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.
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:
Discuss this news on our Telegram Community. Subscribe to us on Google news and do follow us on Twitter @Blockmanity
Did you like the news you just read? Please leave a feedback to help us serve you better
Disclaimer: Blockmanity is a news portal and does not provide any financial advice. Blockmanity's role is to inform the cryptocurrency and blockchain community about what's going on in this space. Please do your own due diligence before making any investment. Blockmanity won't be responsible for any loss of funds.
Macro guru and Real Vision CEO Raoul Pal shone the spotlight on a rising layer-1…
As the technology landscape transforms at lightning speed, AI Companions has positioned itself as a…
Did you know that 85% of DeFi value is concentrated in six blockchains? DeFi is…
CLAPART - a groundbreaking RWA platform has launched its much-anticipated $CLP token IDO on Gempad…
Join us at BFC 2024 to explore the future of Web3. Use a special discount…
Catch all the updates with Altcoin Observer, official media partner of WebX Asia 2024. Gear…