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in depth

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Because we use immutable, transparent blockchain technology, platform members know they can trust our records without validation by a bank, government, or third party.  Our architecture’s distributed, so data, value and agreements are kept by the customer, reducing the risk of loss of service or money caused by systemic failures. For our financial ecosystem communities, we offer distributed liquidity, reducing the need for connectivity to send payments, and keeping wealth in communities.  

The platform ecosystem helps banks, governments and third parties seeking the confidence to help SMEs (Small and medium-sized enterprises). More than just a cool app, hiveonline is a financial trust platform that builds an unquestionable record of payments made and work completed, including hours, proof of work done and decisions made by the end customer, such as receipts, chat interactions, photographs and certificates. Contracts between businesses and their customers or lenders store rules for payment and connect to a system of e-wallets. This allows us to provide invoice-free payments and microfinancing to bridge payment gaps, instead of the standard and much more time consuming process-based loan applications and invoicing.

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We’re also supporting Danish and Swedish SMEs in the construction, catering and agriculture sectors, busy working onsite instead of sitting at a PC all day. The platform adds business rules, analytics and some AI on top of our blockchain, with partner capabilities managed by third parties and lenders offering a rich variety of administrative services tailored to the market. We support this offering with community events and information, bringing the trust network alive to our core customers.

The opportunity this offers to unbanked nano-, micro- and small businesses in developing economies is enormous: with an estimated 350 million+ of these businesses unable to access banking, and often formal ID, microfinance institutions currently offer loans at astronomical rates, hedging their cost of due diligence and default risk.  Our reputation system, using phone records to validate customer behaviour, slashes the cost and risk of lending, enabling us to reduce the cost of borrowing, while helping to bring micro-businesses into the formal economy, with benefits of land rights and reduced exploitation.

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We’re building partnerships with organisations worldwide to support unbanked communities, with a focus on sub-Saharan Africa and ASEAN.  

We are supporting organisations including banks and innovation agencies in helping their SME customers realise greater potential. We have identified many macroeconomic factors that make Denmark ideal for developed economy SME launch, including single sign-on protocols (NemID), low use of cash and high quality standards, which results in a market eager to embrace a system that proves quality and trust on a digital platform.

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