bitcoin nanopayments by satoshipay
TRANSCRIPT
@meinharrd | @SatoshiPay
A new way to pay for digital goods.
Bitcoin?
The Artist Also Known As Blockchain(TAAKAB)
No chain without coin
Digital currency
Money over IP
Decentralised and open source
Programmable money
Very low transaction fees
Micropayments
Micro not small enough
Nanopayments
1c or less
Bitcoin nanopayment shortcomings
Not instant: up to 60 minutes
Blockchain bloat
Relatively high fees
Solution: Smart Contracts
Computer protocol for value transactions
Example: Bitcoin Payment Channel
Sender Recipient
Sender RecipientTx
Sender RecipientTx
Sender Recipient
Escrow
Sender Recipient
EscrowFunding Tx
Sender Recipient
EscrowFunding Tx
Refund Tx
Sender Recipient
EscrowFunding Tx
Refund Tx
Payout Tx
Negotiation
Sender Recipient
EscrowFunding Tx
Refund Tx
SignaturePayout Tx
Signature
Negotiation
Sender Recipient
EscrowFunding Tx
Refund Tx
Payout Tx
SignaturePayout Tx
Signature
Negotiation
Sender Recipient
EscrowFunding Tx
Refund Tx
Payout Tx
SignaturePayout Tx
Bitcoin Network
Signature
Negotiation
Sender Recipient
EscrowFunding Tx
Refund Tx
Payout Tx
SignaturePayout Tx
Bitcoin Network
Signature
Negotiation
Payment Channel
SatoshiPay Nanopayments
Monetise digital content in tiny increments
Paywall
Top up
Pay and read
Next website
Pay and read
No download or sign-up for the user
Happy users = happy merchants
Little willingness to pay?
Future
2-way payments
More top-up methods
IoT: machine-to-machine payments
Public charging stations
Autonomous sensors
Sky is the limit (or is it?)
@SatoshiPay
Thanks!