Trade REQ - REQ Markets, Exchanges, Broker
The Request Network is a decentralized network for payment systems that is built on the Ethereum blockchain. Anyone can request payment from anyone, regardless of location.
The payment can be paid directly by the other party without a third party and within a secure environment. Through the Ethereum Blockchain, payments are unchangeable and secure, making it possible to make accounting safer and easier.
The request network works (in the future) with any currency, which means that the recipient can e.g. request a payment in Bitcoin or Ether and the sender can pay in Euro or US Dollar.
In addition, the Request Network should be compatible with the Internet of Things and with all other systems coming in the future.
The exciting thing about Request Network, which is also called PayPal 2.0, are the different application possibilities. It is not just an ordinary payment system, but offers much more.
Online Shopping
The first, obvious application area is the payment of online services and goods. Instead of "Pay with PayPal" you can "Pay with Request" in the future. This is advantageous for the buyer, as he no longer has to disclose any personal bank details. But also and above all for the seller, who no longer has to pay a third party up to 6%. This could also have a positive effect for the customer, as the price could be lowered.
The team and the supporters
The Request Network team consists of Christophe Lassuyt (Co-founder & CFO), Etienne Tatur (Co-founder & CTO), Vincent Rolland (Lead Developer), Laura Girod (Data Analyst), Julien Devoir (CMO), Elliot Denis (Developer) and other helpers. The team had worked on Monetys before, but realized it was time to revolutionize online payments.
The supporters are better known than the team. The companies Moneytis, Quantstamp, iexec and YCombinator support the team. The support from YCombinator is impressive - this company has already successfully supported reddit and Coinbase in their founding. This is another reason why the Request Netzwork team has high expectations.
Request Network Token (REQ Token)
The request network has its own token, the request network token. The token was created by an ICO that took place from 13 to 16 October 2017. The price per token was 0.0672 USD (0.0002 ETH) and a total of 1,000,000,000 REQ tokens were created. REQ tokens are used to participate in the request network and to reward developers working on the network.
REQ tokens
This means that end users will never have to buy REQ tokens and will never know about the process. For the use of the request network fees of at least 0.05% and at most 0.5% are estimated, the developers are currently discussing the amount. This significantly undercuts current payment processors. PayPal currently charges merchants, for example, 1.9% + 0.35 € for a domestic transaction.
Why an own token?
With many new ICOs, one should ask oneself what one needs one's own token for and whether one could not simply use Ether for the project. Although the request network could also charge ether fees, it was necessary to create REQ tokens. On the one hand, REQ tokens can be transferred to any other blockchain (loose) technology, which makes the network independent from other systems and thus also from their failure. On the other hand, the request network creates its own community that pursues the same goals as the team.
Conclusion REQ Token
Due to the burning of the REQ tokens and their deflationary nature, the low processing fees, the many different application possibilities, the team and supporters and the size of the market for payment service providers, the Request Network is a very exciting project.