Request Network (REQ) Joins EEA To Improve Its Interoperable Standard For Blockchain Transactions
Request Network, the protocol which provides individuals and corporations with the tools they need to develop blockchain-based financial solutions for processes ranging from invoicing to loans, has just announced today that it has joined the Enterprise Ethereum Alliance (EEA).
The Request Network Foundation team plans to work directly with experts through the EEA to develop an interoperable standard for blockchain financial transactions. This is aimed to be directed towards developing a system for fully-compliant financial flows with non-traditional currencies.
By leveraging the operational Request framework and listening closely to industry leaders within the EEA, the Request Network Foundation team is helping create the interoperable standard for financial transactions that occur on blockchains.
Christophe Fonteneau, Head of Strategic Partnerships of Request Network Foundation, when asked about the new development said:
“We are excited to join the EEA. The EEA offers us the ability to work with leaders in the financial industry to address specific, enterprise-based use cases. We look forward to helping define the building blocks needed to drive the Web 3.0 era of decentralized, connective intelligence.”
Request Network’s code is open source, fully auditable, and allows developers to build their own financial applications. Through a growing number of partnerships with financial institutions like PwC and an investment fund of $30M designed to fund developers building on their network, Request Network aims to become the premier platform for both peer-to-peer payments and business invoicing.
They aim to become the top payment platform across multiple industries. Of particular interest is their focus on next-generation platforms, like virtual reality and cryptocurrency tax payment systems.
More About EEA
The EEA is an industry-supported, not-for-profit established to build, promote, and broadly support Ethereum-based technology best practices, open standards, and open-source reference architectures. The EEA is helping to evolve Ethereum into an enterprise-grade technology, providing research and development in a range of areas, including privacy, confidentiality, scalability, and security. The EEA is also investigating hybrid architectures that span both permissioned and public Ethereum networks as well as industry-specific application layer working groups.