"Request is a decentralized network that allows anyone to request a payment (a Request Invoice)for which the recipient can pay in a secure way. All of the information is stored in a decentralized authentic ledger. This results in cheaper, easier, and more secure payments, and it allows for a wide range of automation possibilities. To become the backbone of world trade, Request integrates a general ledger (in the accounting sense of the term), which is:Universal because it is designed to support 100% of global transactions, regardless of currency, legislation or language. Request is built to last. Smart because unlike an existing standard accounting book, Request is at the origin of the exchanges and integrates a computerized trade code, as well as the management of a multitude of payment terms. Today, their absence makes the whole system inefficient and absolutely unready for the digital and IoT (Internet Of Things) revolution that is taking place. Request can be seen as a layer on top of Ethereum, which allows requests for payments that satisfy a legal framework.It is also possible to see currencies as tools to complete Request transactions. In this sense,Request is more global than any currency."
What we don't like:
Request Network has a huge climb ahead of them to be taken seriously as a PayPal-type system. Most people who are unfamiliar with crypto will be more comfortable with the apps they’re currently using. Those that are confirmable with the blockchain already have no issue sending money peer-to-peer with nominal fees. They also need major partnerships for online merchants, which are hard to come by.
What we like:
Request Network wants to become a one-stop shop integral payment system. The Request Network platform wants to become the Venmo and PayPal of the blockchain. They plan to be a peer-to-peer payment system as well as direct payment to online retailers. What separates REQ from existing payments systems, is that the blockchain would allow for an in-system audit. Businesses that run on the Request Network would have accurate books without having to bring in a third-party auditing company.