Grant awarded to Basenode
The HUMAN Protocol Grants Committee has awarded a grant to Basenode.io to provide a fiat on-ramp for HUMAN Protocol. The fiat on-ramp will allow Requesters to pay for work with fiat currencies, making it easier than ever for companies to request work through HUMAN Protocol. The service will also provide both Workers and Requesters with tax-compliant invoices.
Basenode is an invoicing and accounting platform that is aiming at financial inclusion through blockchain technology. The project's focus is on areas in which access to traditional financial infrastructure has often been problematic, such as Africa, South America, and South Asia. At present, freelancers can make use of their tax-compliant crypto to crypto invoicing feature to ensure they get paid for their work in crypto.
Basenode is currently supported by Bitcoin, Ethereum, Polygon, Ronin, Fantom, and Binance Smart Chain.
Currently, Basenode offers only crypto to crypto invoicing. Using this grant, however, they will enable crypto to fiat invoicing, meaning Workers invoice and receive crypto, while Requesters pay in fiat. Significantly, Basenode’s invoicing will provide Requesters and Workers with a tax-compliant invoice.
The creation of a fiat on-ramp massively increases the ease of requesting work through HUMAN Protocol. This does not replace the ability to pay for work in crypto, but merely adds options for Requesters. While some projects would want to pay for work in crypto, there are many for whom this would be an added layer of complexity.
Given that the use cases of the Protocol are vast, and are already resulting in a wide range of companies on the Requester side, having multiple payment options is a natural addition to the request for work. A fiat on-ramp makes the request of work through HUMAN Protocol more frictionless and appealing.
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The HUMAN Protocol Foundation makes no representation, warranty, or undertaking, express or implied, as to the accuracy, reliability, completeness, or reasonableness of the information contained here. Any assumptions, opinions, and estimations expressed constitute the HUMAN Protocol Foundation’s judgment as of the time of publishing and are subject to change without notice. Any projection contained within the information presented here is based on a number of assumptions, and there can be no guarantee that any projected outcomes will be achieved.