THE PLATFORM TO CREATE A TRUSTING ENVIRONMENT BY FACILITATING TRANSPARENCY BETWEEN PARTIES AND REWARDING PERFORMANCE

 

Invox Finance will refer to the invoice financing facilities, where investors advance funds to the sellers against their issued invoices as  invoice lending. In the case of the seller, they will need to find additional funds to effectively finance the buyer until the buyer pays the invoice. The key issue with traditional invoice financing is that the relationship between the seller and the buyer is not completely transparent to the financier and therefore exposes the financier to a considerable risk of the invoice not being paid as agreed, or being disputed. To address issues, financiers will seek services of external parties. This option will usually fix the cash-flow problem but can be expensive as the fees charged by the financier are usually very high.

 

 

HOW WILL INVOX FINANCE PLATFORM SOLVE  THE PROBLEM?

The Invox Finance plans to disrupt and revolutionise the traditional invoice finance industry by implementing a global distributed  peer-to-peer lending platform called the Invox Finance Platform. This platform will completely eliminate the need for a financier’s involvement by connecting businesses that wish to accelerate their cash-flow through selling their invoices (“sellers”), directly with investors who wish to finance these invoices. Invox Finance’s key differences include decentralised platform, direct access to investors, lower rates for sellers, and a new way for investors to diversify.

 


The Invox Finance Platform will comprise of the following

1. Dynamic Invoice Smart Contracts
   Dynamic invoices will store additional information such as invoice verification status, advances made against the invoices and payments received. They will also ensure that the information stored on the ledger is transparent, reliable and secure. This enables all participants of the ledger to view the state of the invoice with respect to time.
   
2. Loans Smart ContractsThey will direct funds to a specific party (when certain smart contract conditions are met) and enable fragmentation of loans  to reduce risk to the investor.
3. User Access and Processing HubThe Hub’s main purpose will be to allow investors, sellers, buyers and other interested parties to have a seamless and efficient way of communicating, exchanging information, and facilitating the initiation and execution of various smart contracts and processes.
4. Bank API IntegrationA linux/python cron job will orchestrate calls from our banking partners’ API to the smart contract.

WHAT IS AN INVOX TOKEN?

An Invox Token will be created on the Ethereum Network. Invox tokens will utilise the ERC-20 token standard. The final amount of Invox Tokens minted will be released on website www. invoxfinance.io. In addition to the tokens sold during the ICO, 20% of the tokens will be set aside for founders and advisors, 20% of the tokens set aside for the operational fund and 5% set aside for bounties and airdrops. There will never be any more Invox Tokens created after the ICO is complete.

TRUSTED MEMBER PROGRAM

To gain access to the Invox Finance Platform sellers will need to pay a yearly membership fee in Invox Tokens. Buyers and investors will not be required to pay any membership fees. The membership program will have a number of tiers: entry tier, mid tier and top tier. The benefits of each tier are as follows:

 

ECONOMICS BUSINESS MODEL

Invox Finance will charge sellers a processing and administration fee equivalent to 1.1% of the face value of each invoice registered on the platform. A large proportion (approx. 91%) of this revenue will be used to reward buyers and sellers for the verification and payment of invoices. That is, 1% of the face value of each invoice will be used for rewards and 0.1% will be utilised by Invox Finance for cost recovery to maintain the system. Invox Finance will charge investors a processing and administration fee equivalent to 1.1% of each advance amount. Third parties who provide value to the Invox Finance Platform (for example, credit rating agencies) will not be charged to use the Invox Finance Platform.

Roadmap

Stage 1

• Invest A$500,000 in cash as capital
• Create an initial community
• Develop the whitepaper
• Prepare to conduct the ICO
• Define the system framework
• Engineer the Dynamic Invoice Smart Contract

Stage 2

• Develop the MVP
• Conduct the ICO

Stage 3

• Complete the MVP
• Start user testing to guarantee the release of a quality product

Team & Advisors

Quik Links

 

 

 

Written by : Elroiy
Bitcointalk profile link : https://bitcointalk.org/index.php?action=profile;u=1890197;sa=summary
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