This article was first published on Request - Medium
Today we are beyond excited to announce we have launched v2.0 of the Request Protocol on the Ethereum mainnet! V2.0 acts as the fundamental infrastructure of Request moving forward.
Learn everything you need to know about the redesigned Request Protocol, what’s included and changed since the beta in the article below!
First — why did Request need a new version of the protocol?
V2 of the Request Protocol is the second major iteration on the protocol. While working on the first version of the Request protocol, market insights made us realize that important features needed to be integrated into Request technology for the protocol to be adopted by industry professionals. The release of v2 and further development of this new version addresses these requirements, such as the need for high scalability and data privacy options. V2 was originally introduced in October of last year. The initial release, v2.0-alpha, was shipped in February for internal testing, followed up by v2.0-beta in June for external beta testing.
What does the Request protocol allow me to do?
The Request protocol enables companies to create, exchange and process invoices and requests for payment through a global network.
By connecting transaction receipts (invoices for B2B, purchase receipts for B2C and transaction receipts for C2C) together with information flows from the payment industry, Request opens a wide range of new automation possibilities in corporate finance, particularly in invoicing, payments, tax collection, accounting and bookkeeping activities.
Request is the blockchain backbone of Supply Chain Finance, where buyers and sellers share trusted information which is immutable and time-stamped for accounting purposes. Based on set permissions, financing institutions may be granted access at some stages of the transaction lifecycle in order to provide short-term credit options. This optimizes working capital and increases business efficiency for both the buyer and the seller
To keep reading, please go to the original article at:
Request - Medium