Blockhive is a company that is aiming to build a sustainable and innovative ecosystem based around blockchain technology. Blockhive’s clients can create partnerships and unlock opportunities and markets and the company also works to incubate projects that they feel can benefit from usage of blockchain technology. Blockhive is striving to create a digital society without borders that encourages collaboration.
Blockhive chose to place its headquarters in Estonia based on the country’s use of technology, including blockchain tech. Specifically, Estonia introduced E-Residency, which is a government-issued system for identification that anyone in the world can use. This ID makes it simpler to start a global business with flexibility.
Although the team is based out of Estonia, many members have roots in Japan. The team includes engineers, mining experts, programmers, designers, financial specialists, and more. They are spread throughout Asia and Europe and have diverse backgrounds.
How Does Blockhive Work?
The Blockhive ecosystem is built on collaboration, just like the bees in a beehive work together to maintain the colony. Instead of charging fees, Blockhive works with its partners to help them develop a blockchain strategy and develops their projects as a team. The project revenue then gets shared between the partners and Blockhive, benefiting everyone who contributed to the project.
What Are Some Key Components of Blockhive?
Blockhive relies on collaboration since it works to develop business models and services based on the blockchain that can help companies in a range of sectors. Blockhive also wants to create standardization by introducing a standard for the future of fundraising via blockchain technology.
Blockhive includes tokenization and digitalization of properties, money, and assets for a digital world. It also involves digital identification, such as E-Residency ID that helps create a digital society that is transparent and trusting.
The team at Blockhive feels that innovation and regulation must move forward together. To work toward this goal, Blockhive works with regulatory authorities, addressing the concerns of authorities and the average person as blockchain technology advances.
The team also wants to democratize the creation of wealth, a goal that many other blockchain-based companies share and feel is possible with the blockchain’s decentralized technology. With the blockchain, values can be pre-distributed or exchanged on a new trust layer and enhance the lives of various individuals.
What Is the Blockhive ILP?
Instead of going with an initial coin offering or ICO, Blockhive opted for an initial loan procurement. The team developed the very first legally binding digitalized loan agreement via the blockchain. The ILP uses the Future Loan Access Token, known as FLAT. The funds raised from the ILP are only used for internal costs, like business management, marketing, and development.
The initial loan procurement strategy is a new fundraising structure Blockhive introduced and sees great potential for. It uses smart loan agreements that are legally binding and helps municipal governments, organizations, and companies get the money they need to build infrastructure or grow. The structure for ILP is legally sound, tax friendly, comprehensive, and simple. It takes place via Tokenote, which is a joint venture of Agrello and Blockhive.
The subscription period for the initial loan procurement will be from May 14, 2018, until June 30 and will be in Euros but paid in ETH. The goal is to raise 6.75 million Euro in the form of ETH. The payment date for the interest will be announced in the future, but the interest rate will be 20 percent of the operating profit that the Blockhive community generates. Blockhive will release a performance summary before the date of the payment. Once the time arrives, the investors will get their loan and interest paid directly to their wallet addresses in ETH. Once the loan matures, it will be automatically extended an additional 10 years unless either party terminates it.
What Else Do You Need to Know about FLAT Tokens?
Since the initial loan procurement method is a new way of blockchain fundraising, questions are unsurprising. FLAT is actually a type of token, not a token itself. The first FLAT token will be Hive, which is what Blockhive will use for its fundraising.
The Hive token makes it possible for creditors to enter that loan agreement with Blockhive and gives them the ability to trade this loan contract with others. The Hive token (HIVE) will have a total of 1 billion tokens that are issuable. Of those, 150 million will be issued in this particular round. A single HIVE will be about 0.045 Euro.
Early participants of the ILP have already lent their funds to Blockhive and received 8 percent of the tokens. Thirty percent of the Hive tokens are allocated to the public ILP. There will be a second public round making up 15 percent of the tokens. The team and management will become eligible to lend Blockhive funds and receive 10 percent of the tokens as an incentive over time. Two percent is for the same function but for the advisors, and the remaining 50 percent is the company reserve.
What Other Token-Related Services Does Blockhive Offer?
Blockhive also has its own smart wallet, eesty, which stores, sends, and receives cryptocurrency. Those who use eesty will accumulate loyalty points in the form of ESTY. These come in exchange for the hash power of the mining facilities within Estonia. Blockhive also has an investment arm, E-Best Venture, which incubates projects with potential for taking advantage of blockchain technology.
What Does the Blockhive Roadmap Look Like?
Blockhive has already accomplished a great deal since the team established Spreadi in May 2012 and charitt in April 2013. It began blockchain development in October 2013 and established Blockhive in April 2017. In the following months, the team established numerous partnerships. In November 2017, it registered E-Best Ventures under Estonia FSA. January 2018 saw the beginning of the ILP and the launch of eesty, with more partnerships early in the year and the E-Best fund launching in March.
In April, the first E-Best investment takes place, and KYC will start for the second ILP, as well. This is also when ESTY tokens will integrate with eesty. The second ILP is scheduled to launch in May with a new Tokenote structure in Autumn. Winter of 2018 will see the integration of eesty with Eesti mining, loan agreements, and FLAT tokens. An airdrop function will be added in 2019.
Blockhive aims to provide its expertise to companies looking to take advantage of blockchain technology. Its most innovative project so far is the development of an initial loan procurement instead of an ICO, which projects will likely want to utilize in the future for fundraising.