https://www.invoxfinance.io/ announces ICO where initial participants are invited to join this project and contribute to the lowest possible price.
Blockchain technology provides a digital trust mechanism for humans that increases the efficiency of value exchange and reduces costs, a truly credible and efficient Invox is coming and getting closer.
The Invox Finance platform is an invoice loan platform that enters the invoice financing industry worth US $ 2.8 trillion. Several sellers and buyers test the Invox Finance Platform with ABR Finance as a trusted investor. ABR Finance is a successful invoice finance company and has helped fund business in all over Australia with A $ 30 million in invoicing. Because the team at ABR Finance Pty Ltd is behind Invox Finance and ABR will be the first customer of Invox Finance.
Platform will comprise of the following:
1. The Blockchain or Distributed Ledger (Ethereum Network)
2. Dynamic Invoice Smart Contracts
3. Loans Smart Contracts
4. User Access and Processing Hub
Who is Invox Finance?
Invox Finance Pty Ltd was founded by members of the ABR Finance Pty Ltd team, a successful invoice financing company based in Australia. As our team is currently undergoing an expansion phase, please visit our website (www.invoxfinance.io) for the most up to date information on our team.
What is Invoice Financing?
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.
Platform Overview The Invox Finance Platform will comprise of the following:
The Invox Finance platform is a peer-to-peer distributed invoicing loan platform that will allow sellers, buyers, investors and other service providers to connect, interact, share, and distribute information.
This platform will facilitate an environment system where trust between the parties is developed through a built-in reward system. Implementation of transactions and information flows does not depend on a single centralized service provider, but is governed by a set of transparent rules executed on a fully distributed ledger,visit here https://invoxfinance.io/docs/Invox-Whitepaper.pdf
Dynamic Invoice - Smart Contract
A set of Dynamic Invoice Smart Contracts will be distributed to Ethereum mainnet.
They will facilitate invoices and registration are fully distributed for dynamic. Invoices in the general ledger and dynamic invoices will also be stored as additional information, verification status invoices, advances made on invoices and payments received. They will also make sure the information stored in the ledger is transparent,reliable and secure.Blockchain data structures represent invoices to be used as tamper proof. It allows all major ledgers to view the state of the invoice with respect to the time.
Smart Credit Contract
This smart contract will also be distributed on Ethereum mainnet.This contract will allow the flow of funds between investors, sellers and buyers.The terms and conditions of the loan will be coded into a smart contract and provides assurance to all participants that the terms and conditions will be enforced, this smart contract leads to funds for certain parties (when certain smart contract conditions are met) and activates loan fragmentation to reduce risk for investors.
Access Users and Process Hubs
This is where all parties will meet and interact with each other. Hub's main objective is to allow investors, sellers, buyers and others interested parties to have seamless and efficient ways to communicate, exchange information, and facilitate initiation and execution of various contracts and smart processes.
Integration of Bank APIs
Works cron linux / python will arranging calls from our banking API partners to smart contract.It will be hosted on Microsoft Azure cloud hosting, using "Key Vaults" for key management. Spread in the future can be run in the local data center using HSM Gameloto to facilitate transactions signing.
Advantages Invox Finance
- Transparency Any interested party, which has permission, can view the terms of the transaction on the blockchain ledger.
- Reduced counterparty risk Once the transaction is established between the parties and deployed on the blockchain, the execution of the terms of the smart contract cannot be stopped, interfered with or manipulated.
- Reduced fraud risk Smart Contracts, together with invoice verifications, reduce the risk of fraud and manipulation by any one party - Smart Contracts exist on the distributed ledger and therefore cannot be manipulated or interfered with by a single party.
- Decentralised Smart Contracts eliminate the risk of trusting the centralised service provider to maintain the integrity of the transaction. The service provider does not have any direct involvement in managing the execution of the terms of the smart contract or the flow of funds between parties.
Token Allocation & Sales Structure
Funds Breakdown
Marketing Estimated at 45 %
Ensuring that there is a strong user base and community will be one of the key areas of focus for the management team in the early years of Invox Finance. This includes educating sellers and buyers as to the benefits of being granted Invox Tokens and the value it generates within the Invox Finance Platform itself.
- Community Engagement - The founding team aims to initially build a user-base and community through grassroots engagement and has been doing so in its pre-ICO and ICO campaigns. As the user base scales, more funds will be allocated into community managers as well as building a professional marketing strategy to create brand recognition.
- Third Party Providers - A portion of this allocation will also be used to create partnerships and alliances with third party service providers to the Invox Finance Platform. Third party service providers (such as credit assessment agencies and debtor insurance companies) will play a key role in providing added value to the system, enabling better decision making, reducing administrative burdens and compliance with legislative requirements.
- International Scaling - Once the Invox Finance Platform has a steady user base in Australia, the management team will focus their attention on international expansion and global scalability.
Internal Investment Fund Estimated at 20%
An internal investment fund will be created to ensure that there is sufficient initial liquidity within the system. The return generated by this fund will be utilised as follows:
- 50% of the returns will be reinvested into the Internal Investment Fund,
- 30% of the returns will be set aside to facilitate the costs associated with debt recovery within the system, and
- 20% of the returns will be utilised to set up a debtor insurance fund.
Therefore, the general mandate for this fund is to benefit the system and its users by providing funds for liquidity, debt recovery and risk reduction.
System Development Estimated at 15%
The other key focus for the management team will be executing the Invox Finance Platform’s software and system development. A Proof of Concept System including the Dynamic Invoice Smart Contract was created by the founding team, before receiving any funding, to showcase the system’s core features.
A Minimum Viable Product will be developed. Once an MVP is created and user tested, the funds raised from the ICO will be allocated to build the complete eco system as described within this White Paper.
Professional Services Estimated at 19%
This will cover all legal, accounting, auditing and any other professional services required by Invox Finance as well as the overhead costs.
Miscellaneous Estimated at 1%
This expenditure item allocates funds to all unforeseen costs.
Meet the Invox Finance Team
Roadmap
Q3 2017 - Idea formulated
Q4 2017 - Incorporated as Invox Finance Pty Ltd
Q1 2018 - Proof of concept code and testing
Q1 2018 - Wireframe
Q1 2018 - V1 of the whitepaper
Q1 2018 - V1 of the website
Q1 2018 - Presale began
Q1 2018 - Presale sold out
Q2 2018 - V2 of the whitepaper
Q2 2018 - V2 of the website
Q2 2018 - Complete ICO
Q2 2018 - Distribute Invox Tokens
Q2 2018 - Mockup complete for buyer, seller and investors journeys
Q3 2018 - First invoice issued on alpha platform
Q4 2018 - Initial user testing on beta platform
Q1 2019 - Invox Finance debit cards become available
Q2 2019 - Mobile application testing
Q2 2019 - Integration with Celsius
Q2 2019 - Launch into second region
Q3 2019 - Mobile application release
Q4 2019 - Launch into third region
For more information and updates on the project and its development, including many interesting details about team composition, support and technology, interested parties are invited to join the whitelist by filling out the appropriate forms on their site https://www.invoxfinance.io/
Follow us On :
Official Website : https://www.invoxfinance.io/
ANN Thread : https://bitcointalk.org/index.php?topic=3048498.0
Twitter : https://twitter.com/InvoxFinance
Facebook : https://web.facebook.com/invoxfinance/
My Bitcointalk Name : Ta.Form
My Bitcointalk Url : https://bitcointalk.org/index.php?action=profile;u=1109350
Eth Address Wallet : 0xaFA49103b15834D6bCF6ac5a2664b0c85e379b4E
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