5 Invoicing Challenges that Request is Tackling with Blockchain Technology

This article was first published on Request - Medium
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đź‘‹ Request enthusiasts,

Small and Medium-sized Businesses (SMBs) presently are stuck in terms of invoicing in the traditional industry. While the world is seeing a growing adoption of digital currencies mainly by end-users, most businesses still can’t make the most out of crypto technology easily. Undoubtedly, blockchain is bringing real-world benefits for transactions in an open and decentralized network. However, there are still risks involved around inexperienced users with the technology and a lingering skepticism from the use of cryptocurrency as means of payment. Businesses are seeking more certainty and transparency with the help of a reputation system and to have access to more financial services. Read further on how Request and specifically its Request Invoicing App are tackling these challenges.

Summary:

  1. SMBs, freelancers, crypto organizations & DAOs need better invoicing
  2. Blockchain is one of the most promising technologies, yet still involves risks due to manual tasks
  3. Despite the attractiveness of Crypto & DeFi, businesses perceive a compliance risk
  4. The invoicing actors are not fighting the risk of not being paid
  5. The financing options for businesses are almost nonexistent

1. SMBs, freelancers, crypto organizations & DAOs need better invoicing

There are problems to solve in the invoicing and payments space. One of the most obvious ones being the lack of openness and interoperability between systems . Opening a bank account or using a bookkeeping software feels like committing forever with a similar feeling as the one we have when facing a choice between Android and iPhone.

Payments can be expensive and slow , especially when dealing with them internationally.

There’s also a lack of innovation . When the best invoicing software charges a premium fee for uploading a logo, that means there’s not much innovation happening in this industry.

The invoicing software relying on the Request core technology can make the most out ...

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To keep reading, please go to the original article at:
Request - Medium

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