Decentralized payment processing platform BullaNetwork has integrated the Fuse Network blockchain, leveraging blockchain and NFT technology to empower users with the ability to manage future cryptocurrency payments.
Fuse’s vision defines the genuine mass adoption of cryptocurrency payments and decentralized finance. Blockchain technology has and continues to radically transform the way people conduct transactions, but its application in the financial world is confined mainly to recording past activity.
To bring users a comprehensive alternative to the current all-encompassing centralized financial system, Fuse determined early on that it would need to deliver decentralized options corresponding to each component of a financial transaction.
Throughout DeFi’s maturation, the technology — and with it, protocols — has progressed, permitting users to conduct and perform more complicated transactions than merely swap tokens, for example.
While many protocols do this by allowing users to do things like stake tokens and receive the equivalent of interest, most have failed to realize the significance of empowering users with the ability to manage claims and, more practically, facilitate the adoption of cryptocurrencies as a medium of exchange for goods and services.
Since an overarching goal of Fuse is to empower the many currently unbanked with access to financial tools the current politico-economic arrangement has failed to deliver, we recognize the significance of bringing this to our network and, by extension, our sphere of influence within the DeFi world. For this, we are happy to announce our latest partnership with BullaNetwork.
Bringing Future Transaction Management Tools to DeFi
BullaNetwork believes credit is a fundamental human interaction — it has been practiced for essentially as long as there is a record of human civilization. Because of this, BullaNetwork aims to bring Web3 decentralized accounting and contingent payment tools to the world, particularly by leveraging blockchain to serve as the third party between creditors and debtors in recording triple-entry accounting-inspired transaction commitments.
It does this primarily through its permissionless dashboard style dApp, BullaBanker.
The convenient dApp allows for the immediate creation, sending, management, and settling future claims, referred to as Bulla Claims, with another wallet denominated in supported ERC20 tokens. The only thing individuals require to use these tools is simply connecting a wallet like MetaMask.
BullaBanker is particularly useful for DAOs, but individuals who want to access detailed, immutable transaction histories on the blockchain will also draw significant benefits from it.
BullaNetwork utilizes Protocol Labs’ IPFS when files associated with a particular Bulla Claim, such as a timesheet, are stored in a completely decentralized and secure manner. Invoices produced on the BullaBanker dApp are minted as NFTs once the sender produces them and permanently stored on the blockchain. Creditors can have notification of the issuing of the Bulla Claim sent to the debtor via email.
How Fuse Integrates BullaNetwork
BullaNetwork has extended support for the Fuse Network blockchain on the BullaBanker app. This means that Fuse users (including DAO’s) can now make payments and issue invoices (including batch payments and batch invoices) via BullaBanker.
They can also receive and settle invoices to be paid from their public address. Bulla supports several major ERC-20 tokens on Fuse Network, including wrapped FUSE (WFUSE), USDC, wrapped Ether (WETH), wrapped BTC (WBTC), and GoodDollar’s G$.
BullaBanker’s convenient dashboard enables users to track all the pending payables and receivables for the relevant public address on Fuse Network. BullaBanker also offers reporting functionality, making it possible to export information about payments and receivables in CSV. format.
Projects in the Fuse ecosystem are encouraged to explore Bulla Network for their payment processing and accounting needs and make their tokens available on the Bulla platform.
