Craig Wright says Automated Bitcoin Payments could serve as an Alternative to Patreon

Four days ago, a YouTuber ‘Philosophie Workout’ had taken an interview of Craig Wright about the Bitcoin for Real World.

In that interview, Craig Wright who claims to be the Bitcoin Creator demonstrated that Bitcoin might be used as a noteworthy means of payment for automated payments especially for subscription services like Patreon.

YouTuber ‘Philosophie Workout’ asked Wright that paying for subscription services such as Patreon on a regular basis would be possible or not.

Wright answered positively that for making such kind of payment, the use of Smart Contract would be required.

He said,

“What we need are people creating new apps, new smart contracts, new formats…”

The chief scientist of Blockchain firm nChain, Craig Wright included that automating the payment that subscribers will need to make for subscription services, can be possible with the help of pre-signed transactions on Bitcoin.

Wright also answered those people who were negative about the possibility of such task by saying,

“It can’t be done, people say. Well, of course, it can. You just need to have a different template. I need to have one where it is signed to you, so I pay 0.1 BTC every month. Or I can have a tokenized amount of US Dollars that get paid to you every month or Bitcoin. All these things are possible. But someone just needs to start thinking that they are possible and allowable…”

A month ago, Craig Wright shared his thoughts on how nChain will make every effort to make Bitcoin SV (Bitcoin Satoshi Vision) the prominent version of Bitcoin over the next few years.

Blockmanity’s Take

Centralized services like Patreon and PayPal have been heavily criticized for their censorship. Many content creators, especially in the intellectual dark web like Carl Benjamin, have lost their main source of income. This has led many creators to look for other alternatives payment systems, Bitcoin being censorship-resistant global money is a viable alternative.

Also Read:

Craig Wright Shares Vision and Roadmap for Bitcoin SV

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