Bulla Offers Hybrid Invoices, Enables More Privacy

We are thrilled to share that Bulla now offers Hybrid Invoices, presenting businesses and individuals with a unique ability to customize the transaction details shared on-chain while still leveraging the speed and transparency of blockchain technology.

“Not everything belongs onchain,” says Mike Revy, CEO, Bulla

One of the biggest challenges with making payments and creating invoices onchain is how to include enough information so that the transaction can be recognized and tracked by both the sender and the recipient, without exposing, or making public, proprietary organizational details.

Consider a contractor invoicing their employer; they may want to include specific information such as their mailing address or employee ID number within the invoice details. This inclusion aids in verifying the identity of the invoice sender, providing a layer of trust in the transaction. However, sharing such personal and sensitive details on-chain poses a serious risk for the sender, as it can lead to unwanted exposure and data breaches.

Companies forced to use account-based apps

To protect sensitive data, web3 companies, and anyone issuing invoices onchain, has been forced to use expensive third-party account-based Saas services to issue their invoices and make payments.

The problem with using these third party apps is that the company’s transactions are executed through a third party wallet, and so users are not able to leverage fundamental advantages of the blockchain, like self-sovereignty, transparency and earned wallet credibility.

With Hybrid invoices, Bulla users can now leverage the blockchain in a fully native, p2p capacity and maintain the highest privacy standards.

Enter Hybrid invoices

So, how does it work? Users can create a one-step invoice as soon as they connect their wallets, and there are now three distinct types of invoices available:

1. Bullet: This consists of just an amount and a public description that exists on the blockchain, making it straightforward and easily accessible.
2. Hybrid: With Hybrid Invoices, only the transaction amount appears on the blockchain. The additional details are “keyed” in such a way that only the sender and the recipient are able to read them. This adds a layer of security while still allowing necessary information to be shared privately.
3. Off-Chain: In this option, only the sender address and amount are entered. The recipient has the freedom to choose the wallet they prefer to pay with. Off-Chain invoices can be created in either the Bullet or Hybrid format, offering even greater flexibility.

By introducing Hybrid Invoices, Bulla is addressing the specific needs of businesses and contractors alike, providing a secure, efficient, and customizable invoicing solution.

Bulla believes in the power of the blockchain to make transactions efficient, low-cost and transparent, without the use of third-party intermediaries.

We believe Hybrid invoices will enhance user experience significantly while maintaining the integrity and confidentiality that users expect from blockchain transactions. Whether you are a small business or an independent contractor, Bulla's Hybrid Invoices are designed to meet your needs efficiently and securely.