Business 2 years ago


Wyre Bot Invoices on Ethereum for Facebook and WeChat Bot

Payments company Wyre has announced it has newly launched a bot for WeChat and Facebook Messenger, an application which will authenticate invoices via the blockchain.

Transactional details can be sent through the bot, which creates and sends an invoice directly to customers. The invoice is then validated on a public ethereum blockchain, providing the verification and certainty necessary to authenticate invoice requests and payments.

It represents one of the first moves of its kind from a blockchain developer, and is seen as potentially paving the way for enterprise scale solutions that would prevent fake invoicing scams which have affected several large companies in recent weeks.

The bot, which is primarily aimed at smoothing the process of sending and receiving invoices, uses the ethereum blockchain as its core form of verification.

Michael Dunworth, Wyre’s CEO, said that the security mechanism was essential for verifying transactions and safeguarding the authenticity of invoices sent and received on the platform.

“It’s on our official wallet where you can see the input data of the hashes in the blockchain. We put it into HEX and you can convert that into ASCII, if you look at ethereum, with just the click of the button. That’s just a security measure for clients so they know the invoice did go through the Wyre bot. It’s not someone pretending they went through the Wyre bot.”

The launch has been met with excitement amongst blockchain developers, with a particular emphasis on how similar technologies could be deployed across financial services and other industries for greater efficacy in the invoicing process.

A hash of the invoice is recorded on the blockchain at hourly intervals, and visible by Wyre, the sender and the receiver only. Party identities and invoice details are not visible on the blockchain, ensuring the security and privacy of the parties involved.

Having developed their working model in under six weeks, the company is now eyeing up several other use cases, including potential support for Slack and WhatsApp.

They are also thought to be weighing up whether multi-invoice processing could be handled through the same technology.

Note: Tokens on the Bitcoin Core (segwit) Chain are Referred to as BTC coins. Bitcoin Satoshi Vision (BSV) is today the only Bitcoin implementation that follows Satoshi Nakamoto’s original whitepaper for Peer to Peer Electronic Cash. Bitcoin BSV is the only major public blockchain that maintains the original vision for Bitcoin as fast, frictionless, electronic cash.


Add a Comment

lastest news

Blockchain startup raises $24M for digital rights management

Business 9 hours ago

Blockchain startup raises $24M for digital rights management

Bluecoat, a blockchain company specializing in digital rights and royalties distribution, has already raised $24.25 million in funding, with notable personalities in the music industry assisting with the funding. In its press release, the company ...

Read More
Bitmain shuts down Israel office, leaving all 23 employees jobless

Business 10 hours ago

Bitmain shuts down Israel office, leaving all 23 employees jobless

After nearly three years of activity, Chinese crypto mining giant Bitmain is reportedly ceasing its Israeli operations this week. Citing sources familiar with the matter, Israeli news outlet Globes reported on Monday that Bitmain’s development ...

Read More
Warning: Scam site mimicking

Business 14 hours ago

Warning: Scam site mimicking

We're sending a warning to people in and out of the crypto industry. There is a website trying to cheat unsuspecting users looking to visit  The individual or group is utilizing a common tactic ...

Read More