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Digital payments are now commonplace, providing consumers and businesses with a safe and secure way to complete transactions. However, digital payments require the use of payment gateways and middlemen, and are saddled with record-keeping difficulties that ultimately lead to inefficiencies. While blockchains offer a decentralized solution to digital payments and improve efficiency while saving costs, they still fail to provide a detailed context to these transactions.
Request Network closes this gap by providing a protocol for storing payment requests, which ensures that transactions are accompanied by the necessary information explaining why they occurred. By addressing this fundamental deficiency, the Request protocol opens the doors to many new financial use cases within the blockchain space.
Read on to find out how Request Network is revolutionizing how we approach digital payments.
Key Takeaways:
Request Network is a decentralized network for storing payment requests that ensures detailed transaction information accompanies each payment.
Request Network's innovative features revolutionize the digital payments landscape by catering to a wide range of financial applications, all in one place, from payments and invoicing to risk assessment and compliance.
REQ, Request Network’s native deflationary ERC-20 token, drives the Request economy.