Creating credits payable

Michael Revy
3 min readOct 27, 2021


(On payrolls, remittances and language)

I was in a conversation with an investor/incubator person. I told him we had designed a widget that facilitated on-chain invoicing.

He was interested and we chatted. I mentioned that this widget could also make remittances. “Why would you want to do that??”

“Well, I guess, uhhh, if all you are doing is repeatedly sending money to the same person you know — the direct is unbeatable but … “

He cut me off — the interview was over. He probably thought I was adding some sort of layer (with fees) to simple, direct remittances.

I lost the chance to explain and I realized my mistake was in the word ‘remittance’.


I create an invoice and indebt another person or group to me.

I create a credit payable (a remittance) and indebt myself to a person or group.

Each action has a creditor and debtor, the difference is in who creates this widget and what parameters are given.

The best example of a credit payable would be payroll. To create a very simple payroll using the current BullaBanker, I go to create a remittance (I know .. old language)

I use an Account Tag to group my payable credits (remittances) as Payroll: October.

I then tokenize or ‘send’ to be minted this credit payable. Let’s choose ‘Pay Later’ button and collect credit payables.

Lets go to BullaBanker and look at my payables :

You can see that I have already created another ‘ September Payroll’ tag. I also have a Payroll:October account tag. (See Account Tag column)

Let’s open the September payroll tag on BullaBanker.

I have 2 people I regularly pay listed and pending payment for September payroll. I see the total for this tag is a payable of 2.72.

The next step would be to open each remittance and approve & pay.

Let’s approve and pay September salary to 0x5C3…422f

And pay …

Observing my updated September payroll tagged group I can see I have paid one person but not the other …

The function of a ‘payroll’ is encapsulated already in BullaBanker and the Bulla protocol.

I realize the method of doing payroll this way is ‘kludgie’ and we are working already on a MUCH better UX.

But back to my whiff with the investor/incubator — language is so important and it seems financial terms in crypto-land need polishing.

Calling a payroll widget a ‘remittance’ was my bad. Is ‘credit payable’ any better?



Michael Revy