About

Request Network is a blockchain-based platform that provides financial infrastructure for Web3 development. It offers a range of services including invoicing products, payment solutions, accounting platforms, and undercollateralized lending services.

History

The traditional invoicing system requires similar invoice information to be stored in two different systems (such as accounting software) for two different companies. The non interoperability between systems, the complexity of invoice data requirements and manual bookkeeping can result in financial mistakes making the system inefficient. Request Network (Request) solves this problem by putting all payment requests in one place, where companies offering services like accounting, invoicing, payment processing, and auditing can access a single source of truth in turn removing efficiencies of the traditional system. Access to information is permission-based ensuring access only for those who need it and since the platform is decentralized, the data has no owner and is immutable.

Request Network V1 (V1) was launched on March 30, 2018, within six months of V1 launch Request Network V2 was launched and on July 8, 2020 Request invoicing was launched. As a strategy, Request focuses on three major apps: payments app, crowdfunding app and accounting app due to their high growth potential as per the network.

On October 13, 2017, Request launched its REQ token on ERC20 raising a total of $33,600,000. REQ tokens are required for creating payment requests, rewarding ecosystem partners, voting and for governance. The token allows Request to migrate, simultaneously run on multiple blockchains or even run its dedicated blockchain, without affecting the network. In turn, making the network independent of both the currency and third party technical infrastructure.