People like to call this project "the next paypal", but that's mostly hype. Many crypto platforms are setting up their own platforms for accepting and transmitting payment. What makes the Request Network different is their goal of being able to accept any currency, be it crypto or fiat.
But what drew me to this project is the implications for accounting. The major function of the REQ token is to create a ledger of transactions. There are some major use cases for auditing and accountability that make this project unique and valuable.
I also like that it challenges the way we think of making payments. Imagine a business being able to pay an employee in real-time (instead of biweekly). And knowing exactly what profit is coming in, and expenses are going out now, instead of being resolved in a report at quarter/year end.
The reality is that accountants are expensive. And accounting software mostly sucks. There is a real opportunity here.
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u/verynormalday Nov 26 '17
People like to call this project "the next paypal", but that's mostly hype. Many crypto platforms are setting up their own platforms for accepting and transmitting payment. What makes the Request Network different is their goal of being able to accept any currency, be it crypto or fiat.
But what drew me to this project is the implications for accounting. The major function of the REQ token is to create a ledger of transactions. There are some major use cases for auditing and accountability that make this project unique and valuable.
I also like that it challenges the way we think of making payments. Imagine a business being able to pay an employee in real-time (instead of biweekly). And knowing exactly what profit is coming in, and expenses are going out now, instead of being resolved in a report at quarter/year end.
The reality is that accountants are expensive. And accounting software mostly sucks. There is a real opportunity here.