From an interview with our CEO: “Hive Project will be a leading platform for SMEs around the world to get the liquidity they need”

With just a couple of days left until the cryptocurrency conference hosted by Finance, Slovenia’s only daily business and financial newspaper, our CEO Jure Soklic has shared his thoughts about the future of Hive Project and how our platform will revolutionise the way SMEs around the world get the liquidity they need for their businesses. Those of our contributors who understand Slovenian can read the interview with Jure here. However, for the majority who don’t understand the language, we have provided a translation into English below.

­­­­From an interview with our CEO: “Hive Project will be a leading platform for SMEs around the world to get the liquidity they need”

The idea behind Hive Project is to harness the power of blockchain technology to provide a platform for liquidity.

Invoice financing is currently reserved only for large companies, since the process is costly and time consuming, putting it beyond the reach of SMEs. This is where the Hive Project platform steps in: “Imagine you have EUR 3,000 and you want to earn some money. Bank deposit interest rates are low, so why not buy and sell invoices to help the SMEs out there who need liquidity — and make you some profit at the same time”.

Q: This summer, Hive Project won best ICO at CoinAgenda 2017. With your idea, you raised over USD 8 million. How much progress have you made with presenting the platform and when do you think the platform will ready for daily use?

Jure: We are currently putting the finishing touches to the beta version of the platform (the Proof of Concept), which will be unveiled to the public by the end of this month. The platform itself, which will rapidly increase accessibility to liquidity for SMEs, will be up and running in the first quarter of 2018.

Q: Why would someone use the Hive Project platform and why wouldn’t SMEs use other ways to get the funding they need?

Jure: Unfortunately, most SMEs do not enjoy the same advantages as large corporations since they do not have the same mechanisms at their disposal. They cannot afford to take on lots of staff with niche specialisations. With the Hive Project platform, however, none of that will matter anymore. Our platform will provide full automatization of the process to help SMEs get the liquidity they really need. Our platform will be user friendly, fast and transparent, benefits that have until now been kept out of the reach of SMEs in the so-called “old” economy.

Our platform will provide full automatization of the process to help SMEs get the liquidity they really need.

Q: Why did you decide to raise money through an ICO?

Jure: We wanted to achieve two goals. The first was to get the funds required to start our project and the second was to involve all the future users of our platform — companies and contributors — in what we are doing. Hive project tokens (Hive token — HVN) serve as the “fuel” for our platform, and our contributors can trade them on various exchanges.

Q: How will the users of your platform be protected from the fluctuation of token values on exchanges and from fluctuations in the value of bitcoin and ether?

Jure: Trading on exchanges always comes with a risk and there is no way to eliminate that completely. We always advise that all necessary precautions are taken and that any exposure is spread between various areas. I would advise any readers to set aside only a small amount of their asset portfolio for cryptocurrencies.

Q: What is your goal for the number of users of your platform in Slovenia and globally — and when do you believe this goal will be achieved?

Jure: Our goal is to become the number one choice among the companies, or platforms, that provide similar services to us. Our plan is to have a 5% market share of all the SMEs in markets where we have a presence.

Our goal is to become the number one choice among the companies, or platforms, that provide similar services.

Q: Some people are predicting that the crypto world will face the same scenario as the so-called “dot.com” companies in 1999, implying that this is a bubble that will burst. However, despite the difficulties encountered by many companies during this time, some went on to become major international corporations. Do you see history repeating itself here and, if so, do you see Hive Project as being one of these “major international corporations”?

Jure: We are investing all of our time and effort to ensure that the Hive Project platform is up and running as soon as possible and that any potential future issues are overcome quickly and easily. In our opinion, any bursting of any crypto bubble is a long way off and, regardless, there are various ways that companies can protect themselves. One way is by converting most of their cryptocurrencies into their more stable fiat counterparts, such as euro or US dollar.

Q: How do you see crypto world in future and how will it influence in our daily life?

Jure: There is absolutely no doubt that blockchain technology is set to change the world. We will soon be witnessing the rise of new global giants on the market — new Facebooks, new Ubers and so on — all of which will be based on blockchain technology. All new technologies are risky and blockchain technology is new, and I think that some contributors to the other ICOs out there may end up being disappointed by risking too much. However, the Hive Project team is doing everything we can to ensure that everyone who has put their trust in us, and will do so in the future, is happy with our work and won’t be disappointed.

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