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ICO Review: Hive Project

|This article was posted on Steemit on 26-June-2017|

From Hive Project page: “Hive provides new financial liquidity to small businesses by leveraging blockchain technology, giving them a range of crypto-currency based financing options.”

1) Solution: This is long time coming. I am glad to see this taking shape as part of BlockChain revolution. It is one of the biggest issues for Small and Medium Enterprises (SMEs) to collect cash after a sale has happened.

Typical invoices have a 60 to 90 days terms of payment. That means, SMEs struggle with cash flow and that impedes their chance to leverage the business opportunities.

The Hive Project website lays out good details including the 3 year plan with potential geographic expansion.

This project has the first mover advantage (for being the first in this space on the blockchain) as well as aiming at the SMEs that most blockchain projects seem to ignore. Any project that aims at helping businesses has a great potential to prosper (think of Stratis).

This project also has potential to turn into a full-fledged credit rating system for SMEs that participate on the Hive Project invoice platform. This, if pulled off, is an excellent project in itself.

Given that this project has first mover advantage, serves businesses (especially SMEs) and has a decent business blueprint, including expanding into a credit rating source for SMEs and giving them a better chance at accessing their $s, I offer it 30 points..

I have to take 10 points away because of the fact that most SMEs have not yet looked into BlockChain technology and it would be interesting to see how Hive encourages SMEs onto its platform.

2) Team: Jure Soklic, CEO of Hive Project has over 13 years’ experience (according to his LinkedIn profile). Dejan Jovanovic, CTO comes with 25 years of experience in the technology and Oliver Muldoon strengthens the team as Finance Lead from UK.

Domen Ursic, CMO has experience with ICONOMI ICO and brings that knowledge to this ICO.

Richard D. Titus, who was named Wired magazine’s top 100 people, was pulled on board of Hive Project, which should do good in terms of getting market’s attention to this ICO.

I have a pet peeve about the profiles on Hive webpage. I don’t care if the pictures posted on the official profile page are casual or suited up, what bothers me is the poor quality.

3) Active presence in the Market: Hive Project’s website is refreshingly professional and filled with useful information. They have a decent whitepaper that discusses the issue they are solving and their general game plan with a 3 year vision.

The Medium page is brimming with lot of buzz and social media is generally active.

One of the key aspect to measure market activeness is the rate at which the responses on social media boards like Bitcointalk, Twitter and Slack are posted. I have seen an active participation by the Hive team on the message boards.

Although their plan lays most aspects, it would have been more assuring to the investors if they included a detailed game plan as to how they hope to bring SMEs on to Blockchain platform. Probably, bringing Richard on board is to help with that aspect? Only time will tell.

This is a big uncertainty and with any new idea, this kind of uncertainty lurks. For what Hive team brings to the table, I am assigning 15 points.

4) Acceptable crypto currencies to participate in the ICO: Bitcoin and Ether. Of the maximum supply of 500 million coins, 375 million will be offered in the ICO. Not available for US citizens or residents. For the lack of choice (whether it is because of technology restrictions or otherwise, I simply don’t care (call me naïve) and have come to expect more options, because it was done before) I am assigning 0 points.

5) Author’s Bias: Of the 100s of ICOs that are sprouting like wild mushroom, there are some projects that I have been studying. Hive happens to be one of them and a project that I was happy to study because of the SME market that they are targeting. Potential advantage of being first mover, branching out into credit rating arena and solid team now joined by Richard D. Titus, all lead me to offer 15 points.

Verdict: I am in.

I don’t say that lightly. If I were allowed in US to participate in this ICO, I would jump on Hive Project at once.

As I mentioned in the beginning of this article, I am small investor who is divesting small part of my salary into Crypto universe. I am hoping that I am on the verge of the next Internet boom, however, the fact that no more than 1% (approx.) of the world population is currently part of crypto financial system and in the event of an unlikely clamping down by bureaucratic suits, all my investment may go bust or if more and more people join the revolution, my small investments could mean something in few years.

And in such a potentially speculative space, my speculation is subject to known and unknown errors.

Possible hurdles:

1. Not a lot of SMEs are on BlockChain at the moment.
2. Identifying the ‘genuine’ SMEs from scammers.

Go through Hive Project’s site, whitepaper before deciding to invest.

You can use their Investor guide to understand the method in which you can contribute.

If you would like for me to review an ICO that you are looking into, drop a note in the comments. I cannot promise that I will be able to review all requests but it will try to if my schedule permits. Your comments will also help keep me in the know about the ICOs that I may have missed.

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Do your own research before investing. Crypto space is very volatile, don’t invest more than what you can afford to lose.  Opinion, not an advice.

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