NEW: Reputation System Ver. 1.0 + $GRT and ILS

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πŸ‘‹ Request enthusiasts,

It’s time for another update on what the Request team has been working on diligently during the last 2 weeks.

2 more currencies have been added in to our list as means of payment with the Request Invoicing app: $GRT and ILS (Israeli New Shekel)

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The Graph (GRT)

The Graph is an indexing protocol for querying data for networks like Ethereum and IPFS, powering many applications in both DeFi and the broader Web3 ecosystem. Anyone can build and publish open APIs, called subgraphs, that applications can query using GraphQL to retrieve blockchain data.

The Graph Token (GRT) is a work token that rewards those who provide indexing and curating services to the network. Active Indexers, Curators and Delegators can earn income from the network proportional to the amount of work they perform and their GRT stake.

Israel Shekel (ILS)Β 

The Israeli new shekel, also known as simply the Israeli shekel, is the currency of Israel.

 

The Request Reputation System is live (Ver. 1.0)

We are using blockchain to make financial behaviors more fair. Payers now have an incentive to pay on time. One of the exciting features in development is the reputation system for the Request Invoicing app which is currently in use internally and not yet accessible to the public. The main goal here is to build a reputation system that would facilitate a more reliable relationship between freelancers, businesses and organizations.

The main benefits derived from this reputation system are to enable businesses, offering a service, the chance to assess the quality of the people and companies they will work with, based on their reputation score. On the other hand, companies who are buying a service from a business are incentivized to pay their invoices on time to maintain or improve a high reputation score. In the future, businesses will also have easier access to investment and financing by submitting their reputation score as creditworthiness.

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As for how the reputation score will be calculated, in simplistic terms Request takes into account several criteria including:

  • The effective payment (i.e. amount)
  • The timing of payment (being on time or late)
  • The number of payments made and the status of the payments (accepted or declined)

The reputation score is a 5-point rating scale.

While we’re still in the early development stage, this feature will be rolled out soon to a few users for beta testing. The reputation system will add significant value to Request Invoicing with its already other proven benefits such as the ease of sending crypto invoicing, tracking invoice statuses, automated notifications for unpaid invoices, and managing all invoices in one place.

Once again, we’re excited to share the development around the reputation system regarded as an essential feature by our community. If you’re interested in adding new features for the Request Invoicing app or want to see a certain feature that you think should be prioritized first, you can put in your vote here: https://roadmap.request.network/

 

Also in this release:

  • βœ… Improved interoperability with other softwares with a more complete csv export (more data)
  • πŸ›  We commit to providing a smooth experience and fixed 5 bugs, UI & UX improvements

 

Ready to Pay and Get Paid in Cryptocurrency?

πŸ‘‰ Sign Up Now for Request Invoicing

(Free account with 0.1% transaction fee capped at US$ 2 incl. Ethereum gas fees for payers.Terms and conditions apply.)

 

πŸ‘‰ We need you πŸ‘ˆ

Are you an existing Xero user?

We want your help testing our upcoming integration.

πŸ‘‰ Email us at hello@request.network and let’s schedule a time to chat.

Now is better than ever before to take advantage of cryptocurrency for your business.

πŸ––
Julien Devoir

Product Manager at Request