Invox finance — transparent and secured lending transaction .

5 min readApr 8, 2018

A lot of people start their business without the proper knowledge on how finance work.It is important that you understand finance for it will help you out personally and can be a real benefit when it comes to business success as well.Business need finance for it helps them start up,run ,and expand the business.Invoice finance is a common financing option for businesses that get paid long after they deliver their goods or services.Traditional invoice financing is based on a financier purchasing invoices from the seller.In return, the financier agrees to advance monies to the seller against each invoice. The buyer who purchased the seller’s products must pay the invoices directly to the financier.But lots of problems occurs in traditional invoice financing that make the seller, buyer and financier lost trust with each other.

These are the following issues in traditional invoice finance:

The seller and the buyer may collude or conspire together to defraud the financier.
The seller may issue an invoice for a service that has not been fully completed or a product that does not comply with agreed specifications or requirements. The buyer may dispute the payment liability.
The buyer may become insolvent and unable to pay for the invoices.
The seller, in breach of its agreement with the financier, may instruct the buyer to pay for the invoices directly to them and not return the funds to the financier.
There are also issues with the complexity of the processes and the legal documentation involved. The preparation and execution of legal documents is laborious and costly and may involve a number of third party providers.

Overall invoice finance lacks transparency and transactions are not secured which leads to doubt of the financier to the buyer and seller.

With all these problems finance facing Invox finance plan to disrupt and revolutionise the traditional invoice finance industry by implementing a global distributed peer-to-peer lending platform called the Invox Finance Platform.

Invox Finance platform

Is a decentralised, peer to peer lending platform that will allow sellers, buyers, investors and other service providers to directly connect, interact, share and distribute information.The platform can be used by an investors whose seeking higher rates of return and diversification of their investment portfolio.Sellers who have invoices they wish to sell to accelerate their cash-flow.And buyers who will receive extended invoice payment periods and be rewarded for verifying invoices.It will benefit both seller and investors, for it gives lower interest rate for seller and provide investors with exposure to loan products that will comprise of loan fragments from a large number of diverse businesses across various industry sectors.This platform will facilitate an eco-system where trust between the parties is developed via an in-built reward system. The execution of transactions and flow of information are not dependent on one single centralised service provider, but are governed by a transparent set of rules executed on a fully distributed ledger.

With the help of blockchain technology Invox Platform users will enable to view and deployed data structures representing invoices.They will also ensure that the information stored on the ledger is transparent, reliable and secure.Smart contracts,processing hub,and Bank API Integration will also help Invox platform perform.Smart Contracts provide solution to issues of transparency and automation as they govern the interaction between parties, the interaction of the various parts of the platform, and the flow of funds between parties.Invox platform have 2 sets of smart contract and these are:

Dynamic Invoice Smart Contracts —

This set of smart contracts will facilitate the creation and registration of dynamic invoices to promote authenticity and transparency to all parties involved — the buyer, seller, investor and other interested parties such as debtor insurers. It will also act as a safeguard against data manipulation by any one party.

Loans Smart Contracts

These contracts will enable the flow of funds between investors, sellers and buyers. They will also direct funds to a specific party (when certain smart contract conditions are met) and enable fragmentation of loans to reduce risk to the investor. The loan terms and conditions will be coded into the smart contracts, providing all participants certainty that their terms and conditions will be enforced.

Each Smart Contract will contain a set of terms and conditions and will be written in the blockchain programming language Solidity.User Access and Processing Hub will 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.And through Bank API Integration linux / python cron job will orchestrate calls from banking partners’ API to the smart contract. This will be hosted on Microsoft Azure cloud hosting, using “Key Vaults” for key management. Future deployments may be run on local data centres using Gameloto HSMs to facilitate transaction signing.

These technologies will make the platform more innovative and will give solution to the underlying issues of traditional invoice financing.

Whitepaper: https://www.invoxfinance.io/docs/Invox-Whitepaper.pdf

Check out their white paper for more information about Invox finance.You will get to know more how the platform works and the benefit it will give to the users.

Also visit their website at https://www.invoxfinance.io/ .Meet the team behind the platform ,see future development on the road map and get to know their partners that will bring Invox Finance to all Corners of the world.

What’s the use of Invox Tokens?

Invox Tokens will be created on the Ethereum network using the ERC-20 standard.Through the Trusted Member Program each seller will be required to hold a certain amount of Invox Tokens to gain access to higher levels of invoice financing. The system will reward buyers and sellers with Invox Tokens for the verification and payment of invoices.For a seller to gain access to the Invox Finance Platform, the seller will need to purchase Invox Tokens during the ICO at a discount or after the ICO from the Invox Finance platform. The seller’s financing limit will be a multiple of 200 of the amount of Invox tokens they hold. For example if a Seller holds $500 AUD worth of Invox Tokens the seller’s financing limit will be $100,000 AUD.

Initial Coin Offering

Become an early adopter.Take part in the ICO to pre-buy your membership to the platform.

Token Value 1 INVOX = 0.0001 ETH

Pre Sale

Start: March 15, 2018

Bonus: 30%

Ends: March 24, 2018

Pre-sale Max Cap

2,941 ETH

Pre-Sale Minimum Buy

ETH 1.0

Crowd sale

Starts:April 3, 2018

Bonus:20%

Ends:April 17,2018

3 days crowd sale

Starts:April 17, 2018

Bonus:10%

Main Sale Minimum Buy

ETH 0.1

Max Cap

20,000 ETH

Invox Finance Crowdsale is LIVE NOW! You can avail up a 20% bonus from today so hurry and participate here: https://invoxfinance.typeform.com/to/yWkqKC