blockhive will raise debt using a new structure it has developed jointly with Agrello, called Initial Loan Procurement (ILP), a legally binding loan agreement.
Once creditors enter a loan agreement with blockhive through ILP, they receive Hive tokens. The token allows creditors 1) to trade their contracts with others, 2) for new token holders to enter into a loan agreement with blockhive.
Creditors are entitled to receive, as interest on the loan, 20 percent of the annual operating profits generated by blockhive from the platform. As the company incubates more projects, it expects revenue to grow potentially.
The debt raised will be used on new resources such as hiring as blockhive expands its ecosystem.
blockhive is an Estonia-based blockchain company with roots in Japan. We use blockchain technology to create practical and innovative solutions for companies, helping them unlock new markets. blockhive is developing an ecosystem for the incubation of projects that have the potential to benefit from blockchain technology.
blockhive’s four core businesses include a smart wallet called eesty, a mining operation in Estonia, ILP fundraising solution that is under Tokenote, and e-Best Ventures, an investment arm.
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