Request Network, a Y-Combinator backed project, has officially launched a financial applications technology that allows anyone to request and send cryptocurrency payments for goods, services, or conduct money transfers between friends, family and businesses.
Request Network acts like a management hub to handle invoices, with everything stored on an immutable blockchain ledger to allow for formal accounting and auditing. This opens cryptocurrency invoicing and payments to be used more easily in a business setting. The technology offers a wide range of use cases including but not limited to: sending payment requests, invoicing, auditing, accounting and fundraising. Network usage cost of the Request Network are between 0.1% – 0.005% with a maximum of 1.50$ per transaction, a fraction of banks and money transfer services.