Request Network (REQ) is a decentralized network for payment requests built as a layer on top of Ethereum block chain. Request network can be used as a means for online payments, and is designed to work with Internet of Things. The Internet of Things is the network of all items embedded with electronics, software, and network connectivity which allows these items to connect and exchange data.
The request is saved on an immutable ledger which acts as a unique source of authenticity. The request can be paid in a secure way and does not require intervention by a third party. Banking information does not need to be shared. This allows Request Network to be cheap by not allowing third parties to take commission. Essentially, currencies are “tools” to complete Request transactions. In this regard, Request is more global than any currency. An important feature to mention is that you can’t be charged by a company without first agreeing to it as no credit card data is given.
Request Network aims to offer an alternative to “Pay with Paypal.”
“Pay with Request” very well may be the Future of Commerce and I am excited to see what Request Network has in store.
More information about Request Network can be viewed here.