Request Network (REQ)
Request Network is a platform that allows users or anyone to request P2P payments. Being a decentralized platform, the goal of request network is to replace the existing payment system such as PayPal and makes a better and more advanced payment terms for everyone. Request Network is built on the top of the Ethereum. This allows everyone, everywhere to request payments. Some of the benefits of Request network include:
- The request can be detected and paid without the need to involve a third party. The transfers on request Network are paid in a secure way.
- The request is saved on an authentic and immutable ledger which acts as a unique source of trust for auditing process and accounting.
- Every currency globally can be used on request Network since the request works with all currencies.
- Request works across very legislation and integrates law system.
- Request is designed as a flexible, work with IoT, and last hundreds of years. The token is compatible with the future system.
Request Network use cases
There are several ways users can use Request. Some are:
Request enables people to handle advanced payment conditions from taxes, down payments and late fees. Request enables accounting in real time and no third parties that take commissions.
Users can pay with Request meaning they are offering an alternative to traditional online payment platforms such as PayPal and credit cards. Request online payments are secure, give users seamless payment experience and cheap. Sharing banking information is not necessary on the Network.
Accounting and auditing
Request is a unique source of data for auditing and accounting services. The services are in real time and users can switch accounting provider without data migration. The Smart Audit algorithm will replace a part of E&Y, Deloitte, and PWC.
Internet of things
Request provides a clear and strong framework for an internet of things. People can handle advanced payment conditions, universal format and data availability without trusting a third party.
With city halls, governments and NGOs are performing budget transparency is an easy and open way. The Network is a unique source immutable and trusted.
Request Network token
Request network uses the REQ tokens for operations of Request contracts and with advanced features such as late fees, Escrow, Tax and down payment. The cost of REQ is expected to be 0.1 to 0.5 of transactions per extension.
Request network was founded by Etienne Tatur and Christophe Lassuyt who are also the CTO and CFO of the network. Vincent Rolland is the lead engineer.