Author: Corné Plooy 2018-03-15 14:29:30
Published on: 2018-03-15T14:29:30+00:00
In a Lightning-dev mailing list, a member named Corné Plooy proposed an idea of making Bitcoin payments more convenient for various types of payments like salary payments or direct pay-out of cryptocurrency bought on an exchange. The idea involves having a direct line of communication between payer and payee instead of BOLT11-style interaction. He registered bolt #12 for his idea. ZmnSCPxj, another member of the mailing list, suggested that the Web Payments Working Group of W3C, of which Christian of Blockstream is a member, can provide better perspective on various payment use cases as well as their subtleties, which can help inform considerations in the proposed BOLT12. The Web Payments Working Group aims to make Bitcoin payments payable over Web payment protocols that they are working on. The group wants to achieve a generalized "payment instruction" that would be capable of expressing other messages like subscriptions, preauthorizations, refunds, and other sorts of payment-related instructions. However, there is no consensus or standardization yet, and their concept is still very much focused on non-recurring purchases, especially on websites. It is currently impossible to set up recurring payments with bitcoin, making it impractical for subscriptions that renew on a short-term basis. CJP, the member who proposed the idea, wonders if they should wait for the Web Payments Working Group's proposal or push forward some simple version of BOLT 12.
Updated on: 2023-05-24T21:41:52.251684+00:00