The lead scientists from the blockchain firm nChain, Craig Wright, is in the latest Bitcoin news for indicating that the most dominant cryptocurrency could one day emerge as a major means of making automated payments for subscription services such as Patreon.
Wright was first asked by a YouTuber named ‘Philosophie Workout’ about whether it would be ever possible to pay for subscription services such as Patreon on a regular basis. He answered in the affirmative, stating:
“What we need are people creating new apps, new smart contracts, new formats…”
The chief nChain scientist also added that with the pre-signed transactions on Bitcoin, it is possible for subscribers to automate the payments that they need to make for subscription services, all in order for content creators to benefit from the work.
Wright also pointed to the naysayers out there, proving them wrong:
“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…”
This news comes less than a month after Bitcoin SV (Satoshi Vision) which is officially backed by Wright, split from Bitcoin Cash. According to Wright, Bitcoin SV will be processing terabyte-sized blocks in two years.
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