Summary
The article discusses the benefits of using streaming payments with the Lightning Network for various industries, such as streaming services, movie production, transportation services, and other continuous experiences. Streaming payments allow for a more personalized and efficient payment model, where users pay for what they consume in real-time. This creates a direct connection between the creator of the content and the user. The article also explores the concept of split payments, where individuals involved in the production of a movie or podcast receive payments based on their contribution. Streaming payments can also be applied to transportation services, such as taxis and buses, allowing for real-time adjustment of payments based on the number of passengers. The article concludes by discussing the challenges and potential solutions for implementing streaming payments, such as the Breez SDK, which offers a non-custodial solution for developers.
Key Points
1. Streaming payments using sats on the Lightning Network allow for a more personalized and efficient payment model, eliminating the need for monthly subscriptions and allowing users to pay for what they consume in real time.
2. The adoption of streaming payments in the movie industry can revolutionize fair compensation and accountability by allowing viewers to pay as they watch. This incentivizes creators to produce high-quality content and ensures that viewers only pay for what they enjoy.
3. Streaming payments can also optimize transportation services, such as taxis and buses, by enabling instant settlement and fair distribution of payments based on the number of passengers and distance traveled. This improves the user experience, increases driver incentives, and reduces operational costs.