Author: Erik Aronesty 2016-06-22 17:07:21
Published on: 2016-06-22T17:07:21+00:00
The need for a standardized and secure way for service providers to deliver invoices, receipts, and payment requests was discussed in an email exchange between Andy Schroder and Erik Aronesty. While payment channels may not be the best option for monthly subscriptions, the use of nlocktime could work well. Merchants cannot send requests to users for future payments because users do not run servers that can be connected to. The solution proposed by Aronesty is to keep BIP 75 the same and add advisory subscription info to the payment request. This would allow for support of varying currency conversion needs, and the wallet would handle securing, validating, repeating, converting, etc. as needed for each subscription. The UI described is nice but not unique to the proposed solution. Ultimately, subscriptions are important for Bitcoin to be used as a real payment system.
Updated on: 2023-06-11T18:44:42.928286+00:00