Hello Secret community! Today we are excited to feature another Secret Application in our ecosystem: Secret Invoice.
One of the core problems of public by default blockchains is security and usability surrounding sending, requesting, and receiving cryptocurrency on a regular and recordable basis. A lack of transactional privacy on blockchains creates additional barriers of adoption surrounding everyday usage. How can we encourage businesses and users to consistently send and receive recordable payments to and from other users without losing their data privacy or their flexibility?
Enter Secret Invoice – a secure and private system on Secret Network for requesting and sending money to business counterparties. Secret Invoices is the first privacy-preserving payment request secret contracts that have ever been created, empowering users on Secret Network to leverage the power of secret contracts for their everyday transactions.
With cross-chain smart contract calls, Secret Invoices could go Interchain – empowering business and users on public chains to trigger private invoice settlement transactions on Secret Network.
Try it now at https://secretinvoice.com/#
Invoices are used as a source document for business accounting and are helpful for recording all the sales transactions a business makes with its clients. Invoices are used by businesses for a variety of purposes, including:
- To request timely payment from clients
- To keep track of sales
- To track inventory, for businesses selling products
- To forecast future sales using historical data
- To record business revenue for tax filings
With the power of viewing keys on Secret Network, users are easily able to decrypt their past invoice payments for any future audits or tax recording purposes. With the two step process of requesting and invoice and paying the invoice, the risk of accidentally sending funds to the wrong address drastically decreases – an important extra step that both businesses and users can appreciate.
Secret Invoice Metadata
With Secret Invoice, users are able to specify the following invoice metadata:
- Invoice Number
- Payee Name
- Invoice Date
- Receipient Name
- Due Date
- Invoice Description
- Units Charged
- Quantity
Once a user mints their invoice, they are then able to “send” the invoice to a target address that will be able to view the encrypted invoice and pay the invoice request. Note that none of the data is visible on-chain except for the creator and receiver of the invoice – creating a level of privacy and usability that is extremely powerful for everyday users and businesses that regularly send and receive SCRT!
Interested in using Secret Invoice? Check out the website today and begin using this amazing technology on Secret Network today!
What’s Next?
The launch of Secret Invoice is right in line with the reveal of Shockwave in early January of 2022. With more products being funded and built, more creators launching on Secret Network, and more supporters and partners than ever helping to ensure our global growth, the future has never been brighter for Web3 privacy.
If you’re a developer, you can also read through our latest announcements re: the new $225M Secret Ecosystem Fund, which contain details on how to connect with the SCRT Labs team and the rest of our developer ecosystem. Additionally, check out Secret Network grants and get started building today!
Thank you for your support – the Shockwave is just starting! 🤫