Request is a decentralized payment system powered by Ethereum that allows for direct currency conversion. Users of the Request Network can send and/or receive payments in digital currencies from many other networks, and all transactions are immutably recorded.
The speed and stability of the request network were guaranteed with the introduction of the Request Network (REQ) utility token in 2017. This network is a decentralized payment system built on Ethereum that allows anyone to send and receive money safely. It does away with the need for third parties to deliver a more cost-effective and secure payment solution that targets all world currencies.
The address to which the price must be allocated and its amount are specified when a user initiates a payment request. Additionally, the user can add payment terms and conditions, enhancing a straightforward request in an invoice. The user can communicate their request to be compensated by their counterparty once this process is complete. Everyone involved can simply keep track of all the bills and payments for the accounting proposals because every step is recorded and saved on this network. To continue to comply with the trade rules of every nation, this network is also integrated with global legislation.
Request is used to allow decentralized payments by over 1,000 businesses and decentralized autonomous organizations (DAOs). According to Request's whitepaper, the system also automates real-time worldwide accounting, substitutes an entire audit branch, gets rid of manual tax collection, and makes international payments simpler. Additionally, according to the whitepaper, Request "replaces payment systems like PayPal." Request's major value offerings are automation and effective invoicing.
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