Episode 35 | Michael Revy from Bulla Network on NFT Invoicing

Jul 29, 2022

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The future of decentralized commerce will transform traditional commerce, as instead of being built upon siloed systems, it intends to be interoperable between its network participants.

One of the foundations to achieve interoperability for commerce lies in tokenizing an invoice.

In other words, having an invoice minted as an NFT provides an immutable document of ownership for commerce, resulting in a single source of truth to check the credit worthiness of its parties, thereby allowing invoice financing & factoring use cases, not only for large corporations, but also for retail needs.

To discuss NFT invoicing, I spoke to Michael Revy, the founder of Bulla Network, an open source protocol to mint credit relationships and facilitate on-chain commerce.

Topics covered;

Michael’s story with blockchain and founding Bulla Network (2:15)
The origin of a Bulla, being used by the Sumerian civilization (3:54)
What is Bulla Network (5:28)
What is an NFT invoice (7:01)
Example of using invoice financing with an NFT invoice (9:29)
What is Bulla Banker , and a walkthrough of the dapp for invoicing & payroll (13:28)
How to prepay NFT payments, in the case of salary payments (16:23)
Pain points with batch payments that Bulla solves (18:28)
Use cases of NFT invoicing (25:55)
Transferring transactions from Bulla Banker to accounting ERPs (29:31)
Missing features in web2 accounting softwares that web3 could offer (30:35)
Protocols working on credit reputation systems (33:03)
Challenges to transition from web2 invoicing to web3 invoicing (34:31)
Value proposition for DAOs with using Bulla (36:01)

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