Oh that blockchain huh… Sometimes it seems straight out of some poor TV commercial. “It can cut, grind, juice, squash, grate, twirl and when you’re not looking it might just walk your dog for you!”. Supposedly the blockchain will tackle just about any problem you throw at it.
Untrue I dare say, as some projects seem mighty vague to me. At the moment ICO’s seem to fall over one another rushing out the door claiming new ‘revolutionary’ ground: “The Blockchain and DNA!”; “The Blockchain and workspace!”; “The Blockchain and peanut butter!”. Sorry I’m fine with peanut butter just the way it is, and don’t quite need a blockchain to help me with it.
Yet on the other side of the spectrum there are projects simply oozing possibility. Such as Hive (https://hive-project.net). A project so delightfully practical you can’t deny its viability, if not inevitability. So let me tell you a bit about it.
Hive addresses something simple enough, invoicing. Don’t be fooled by the humble appearance though. Invoicing is a multi-trillion dollar business! Not only has Hive recognized a blockchain possibility which makes it highly competitive in the market, even if it only obtains a minor share… We’re still talking a multi-trillion dollar market!
So what does Hive do exactly? And I mean the not-so-boring, hell, the-cool, and dumb-downed version of it!
Ok, say Superman just saved Jane from a horrible horrible death that just looked awesome in 3D. But Superman and Jane have broken up, and since there are no freebies for ex-lovers that I’m aware of, Superman sends Jane an invoice to get paid for his services. Here a problem appears, even Superman has got to eat, yet Jane has 90 to 120 days to pay her bill! That’s what we call a liquidity problem, and Hive is here to fix it.
Superman can now sell the invoice to the Hive Project Fund and will get paid immediately. He can get his cape to the dry-cleaners, buy some eye-liner and stock up BLT sandwiches, so he’s ready for the next show of heroics that’ll look awesome despite of wearing underwear over his outerwear. This effectively solves the liquidity problem, which is especially problematic for small- to medium enterprises. They will have the finances to continue their business, despite of invoices which would otherwise delay the payments they require.
A ‘little’ bonus in all of this too. When Superman gets audited or requires a credit check — I’m not aware of any rules that exempt you from taxes just because you defy gravity — Hive allows for real-time and rapid insight in company finances.
That’s it, simple enough. Don’t let it fool you though, the honey in this hive is real and every SME (small & medium enterprise) wants a taste. Meaning Hive will get a taste, or in due time perhaps a spoonful, of a multi-trillion dollar market.
You can have a taste as well by joining in Hive’s ICO (initial coin offering). A little disclaimer here is that I am in no way affiliated with Hive, just sharing my enthusiasm, and have nothing to gain from you joining. Furthermore, US citizens are not legally allowed to participate in the Hive Project crowdsale.
Even though I started out with sharing my scepticism, how the silliest blockchain projects get created, and how in the current climate even these silly projects obtain millions to invest (i.e. waste). Hive strives to achieve something obtainable and, despite its humble appearance, grand. They won’t launch SkyNet or colonize Mars, but they will be 1) the first to address 2) a real and widespread problem 3) in a huge market.
The Hive project will have an ICO running from Monday, 3 July 2017 (8.00 UTC) until Monday, 14 August 2017 (20.00 UTC).
You can read more on this on their website: https://hive-project.net
Superman might just be facing more challenges apart from fighting alien invaders or developing a fashion sense. But when it >comes to the invoice liquidity problem, Hive will be its Kryptonite!