Buy Request (REQ)

What is Request?

Request Network is a decentralised, Ethereum-based payment system designed to allow individuals and businesses to request payments in a secure and straightforward manner without the need for an intermediary. It leverages blockchain technology to ensure that all transactions are traceable, efficient, and encrypted for privacy.

How does Request work?

Request Network operates as a protocol for creating and settling payment requests on the Ethereum blockchain. It uses smart contracts to automatically execute and record these transactions, providing security and transparency. Users can issue requests for payments, which are then stored on the blockchain. Once a payment request is confirmed, the corresponding funds are transferred from the payer to the payee through a secure and immutable ledger, using the Ethereum network's Proof of Stake (PoS) consensus mechanism to validate transactions.

What are the potential use cases for Request?

Request Network offers a range of potential applications across various industries. It is particularly useful for:

• Automating auditing processes by providing transparent and verifiable transaction trails.
• Enabling secure and efficient payment solutions for goods and services, beneficial for e-commerce platforms.
• Integrating with invoicing and billing systems to streamline accounts receivable/payable processes.
• Facilitating cross-border financial transactions with its integration capabilities for different fiat currencies.
• Enhancing financial applications with features like automated payments, recurring charges, and debt tracking.

What is the history of Request?

Request Network was founded in 2017 by Christophe Lassuyt and Etienne Tatur, who originally developed Moneytis, a global money transfer service, before shifting focus to decentralised payment solutions. Significant milestones include participating in the Y Combinator accelerator and launching the Request Network protocol. Since then, the network has achieved various integrations and partnerships, including collaborations with Kyber Network for payment solutions and Quantstamp for smart contract auditing. The platform continues to evolve, with ongoing development in areas like PoS integration, compliance with international trade laws, and expanding use cases within the financial sector.