Request Network is one of my favorite altcoins, so beware: I might be biased. The developers have a real project going though, so you might consider investing nonetheless. This is an in-depth analysis.
Request aims to replace PayPal. That is why the developers plan to integrate a trade law system that works across every legislation and with every global currency.
What is Request Network for?
Request Network is for online payments, invoices, and to guarantee budget transparency for city halls, governments and NGOs. Furthermore, Request Network aims to provide a strong framework for the Internet Of Things to interact financially.
It can handle advanced payment conditions (late fees, down payment, taxes), and makes data available without trusting a third party. This means that a self-driving car could possibly pay at the charging station all by itself.
When it comes to online payments and invoices, one advantage is that no third parties will be taking commissions. Thus, both parties will be profiting. This affects companies as well as individuals. Furthermore, Request Network can improve billing and accounting software as well as help audit firms and associations and NGOs.
Up to now, the developers completely stuck to the timetable: In Q4 2017, they released the test net, provided 5 possible solutions to integrating fiat integration, and announced a partnership with FundRequest and a collaboration with The Beetoken.
How will the project develop in 2018?
In 2018, the developers plan to launch the “Pay with Request” project. It is an online button which will offer an alternative to traditional methods (Q1). Furthermore, they plan to add management of fiat-currencies (Q2) and deploy a tax extension to automatically pay taxes in real time. The down payment extension to specify an amount to pay and a specific date on which to process it is planned for Q3.
The “Internet of Things framework” will be released in Q4 or later.
Who does Request compete against?
Request Network first and foremost competes against PayPal and credit card companies such as VISA and MasterCard. They announced on their website that Request is a feeless alternative to these traditional payment methods. OmiseGo (OMG) is the decentralized competitor with the biggest market cap (868m, Dec 2017). It is often said that these two projects complement each other though. Other competitors are Populous and MetalPay. In comparison, Request probably features more use cases. You can check their mind map here.
[currencygraph currency1=”req” currency2=”usd”]
Request has developed steady over the last months and has been one of the most fluctuation-prone coins in recent weeks. Its current market cap is $229.596.269.
Request is one of the few altcoins featuring a real project and dedicated developers who stick to their road map. Their whitepaper is easy to understand as to why many people who are interested are also willing to invest. The coin has been more or less fluctuation-prone until now (December 2017). REQ is a long-term investment though, facing heavy competition as it sees itself as an alternative to PayPal, VISA and MasterCard – it has many other use cases, which could help when it comes to competing against big players.
– Real project with many use cases
– Developers stick to their road map
– Easy to understand white paper
– Fluctuation-prone coin
– Heavy competition (PayPal, VISA, MasterCard)
– Long-term investment
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