Bill Protocol

Manages invoices for CBDCs

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Problem

With the advancement of CBDC technology, it is necessary to enable ways to collect money from counterparties (customers, users, etc.) in a simple way, since a lot of work is done with an agreement for a future payment, and it must be ensured that that agreement is fulfilled (for B2B and B2C services).

Bill Protocol

Bill Protocol is a web platform that allows you to manage invoices and payments on the XRPL network, with the idea of simplifying money collection processes through blockchain for fiat, crypto, and CBDCs.

Bill Protocol currently operates on the XRPL testnet.

Options

With Bill Protocol, you can:

  • Generate and receive invoices: You can create several types of invoices to your recipients and enter the payment items. You can approve and reject the invoices received, and pay them when appropriate.
  • Manage recipients: To send invoices.
  • Manage wallets: Where you want to receive the money (without storing the seed code).
  • Manage information: About your person or company, which is used to (in the future) print PDF with the invoice with all the information about its creator.

Invoice types

The types of invoices available are:

  • Regular: The recipient of the invoice can pay it immediately. Use the regular XRPL payment process.
  • Payment to Date: The recipient approves the invoice (a check is generated) and the invoice creator can redeem the money on the specified payment date, as long as the invoice recipient has a balance in their account. Use XRPL checks.
  • Escrows: The receiver approves the invoice (an escrow is generated, where this user must deposit the money) and the invoice creator can redeem the money on the specified payment date since the amount is already available on the network. Use XRPL escrows.

Technologies

Bill Protocol is built with:

For Ripple CBDC Hackathon (winning phase)

For the next phase of the hackathon, Bill Protocol will include:

  • Regular invoices with different currencies (not only XRP).
  • Payment to Date with different currencies (not only XRP).
  • Download proof (PDF) of the transfer.
  • Integration with Ripple CBDC Private Ledger.

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