I entered the blockchain industry for mining in 2017.
I've been thinking.
Scenarios where Blockchain can be applied in the future.
At that time, I fantasized about being able to start a business in the future.
I will start a company with two types of business models.
The first method is to use USDT to purchase assets from all exchanges in the world.
Realizing the encryption, privacy, and decentralization of real assets.
Make it a WEB3 Futu Tiger.
I am very grateful that I happened to be involved as well. And I enjoy it.
Fulfilled a wish.
Another one is the flow payment model.
Flow payment is a type of payment within a certain timeframe.
A payment method that continuously sends funds from one account to another,
This allows payments to flow continuously like water, for example, with a frequency of payments based on seconds or minutes.
Complete the payment when the total amount reaches the agreed amount.
In simple terms, it controls the ongoing payment method of funds through programming.
It was originally a vision formed because of the Bitcoin Lightning Network.
Quickly transfer digital currency through blockchain technology to achieve second-level payments like "water flow".
Flow payment application scenarios
Flow payment can be applied to a variety of scenarios.
For example, listening to music, reading e-books, paying for memberships, renting, consulting, parking, and even investing, financing, gym training, etc.
Xiao Ge believes that Chinese people lack a sense of contract and often run away.
If such a payment method reduces mutual trust.
If you run away, I will terminate the payment.
In the future, flow payments will affect the value flow.
Working capital management, IoT payment
Even the valuation models of large companies have far-reaching impacts.
Both parties to the transaction agree in advance on the total service fee.
and set the payment ratio according to the time,
Through the flow payment program,
Execute according to a fixed procedure,
And when the employer has objections to the service,
You can stop payment and terminate the service at any time.
Reasonably protects the rights and interests of employers.
If you didn't understand, let me give you a few examples.
Salary payment
Typically, companies pay employees' salaries at a fixed time each month. This routine operation has at least two areas that can be improved by using blockchain.
From the company's perspective, distributing salaries at a fixed time each month means that the company needs to prepare a large amount of cash to distribute to employees at that time, which may put some pressure on the company's cash flow management. If a flow payment system is adopted, distributing a large sum of money that is concentrated each month slowly and evenly throughout the month can make the company's cash flow smoother.
Secondly, from the perspective of employees, through flow payment, employees can receive their salaries in real-time based on their labor. Compared to existing methods, flow payment allows employees to access their earned salaries earlier and faster.
Subscription Service & Timed Charging Service
Current streaming service providers charge users on a monthly basis, regardless of whether users use the product or how long they have used it, the fees are fixed.
Streaming payments can provide a more accurate and fair payment method for subscription-based and time-based services and goods.
For example, in the streaming media industry, the fees that users pay for enjoying music or films depend on how long they actually listened or how much content they watched, rather than having to pay for the entire work or for a monthly/annual subscription.
Another example is the point card timing online game, the flow payment can completely replace the point card, the player pays is what he gets, and the amount of money paid is directly calculated and settled in real time according to the online time.
Streaming payments can provide a more precise and fair payment method for subscription-based and time-based fee services and products.
For example, in the streaming media industry, the fees users pay for enjoying music or films depend on how long they actually listened or watched, rather than paying for the entire work or for a monthly/yearly subscription.
In online games that use point cards for timing, flow payments can completely replace point cards, and players get what they pay for. The fees are calculated in real-time based on the online time.
The education and training fitness industry has gone bankrupt, and the membership card recharge has also collapsed.
In China, if you dare to buy a membership card, I dare to run away. With flow payment, on the first day, customer payments will enter the blockchain, and the money will slowly flow to the merchants. According to the flow per second. If you provide service for a year, the payment will be completed within that year. If you provide service for 1 month, then payment will be based on 1 month. This way, if you run away, I can terminate the payment smart contract at any time to minimize losses.
I used to think that calling contracts was very troublesome. No startup was willing to do it.
He said that if Alice needs to communicate with Bob, Alice can find any of Bob's transactions, and then restore Bob's public key, and then Alice uses the ECDH + AES algorithm to encrypt the plaintext information to obtain the ciphertext, and then Alice can send the ciphertext to Bob as calldata. After Bob receives the encrypted information, he can directly use the transaction sent by Alice to recover Alice's public key, and then use the ECDH + AES algorithm to decrypt the information. Using the ox library to write a command-line tool, what is not mentioned above is that the key length obtained by the ECDH algorithm is not compatible with the key length required by AES, so the code uses the hkdf algorithm for key derivation This set of on-chain encrypted communication combined with streaming payment can create some interesting marketplaces, such as buyers can initiate streaming payments to sellers, and after sellers receive notifications of the start of streaming payments, they can encrypt and send some content to buyers on the chain, and buyers can verify whether they can use it after receiving the content, if they can, Buyers can maintain the stream payment all the time, and if they find that the content sent by the seller is not available, they can directly cut off the stream payment
Later, I looked at how Superfluid "streaming accounting" works.
Superfluid's "streaming accounting" divides the user's balance into two parts: one part is the Static Balance, and the other part is the Real-time Balance (. The Static Balance is the actual balance at the time of the last modification timestamp of the account, which is the sum of the Static Balance and the Real-time ) dynamic ( balance. The Real-time (dynamic) balance is obtained through the net flow * ) current time - latest modification timestamp (.
- Static Balance
Static Balance = Initial Current Balance at the latest CRUD timestamp
- Real-time (dynamic) balance
Real-time Balance = Netflow Rate * Time elapsed since the latest CRUD timestamp
- Current Actual Balance
Current Balance = Static Balance + Real-time Balance
When any token flow for this account is created, modified, or deleted, the following variables will be updated on the chain immediately: 1. Netflow rate will be recalculated based on the changes in the token flow; 2. Latest CRUD timestamp will be updated to the moment the change occurs; 3. Static Balance will be updated to Current Balance; 4. Real-time Balance will be reset to zero.
The main advantage of this streaming accounting is the realization of gasless on-chain value transfer. Gas costs are incurred only when a new token stream is created, or an existing token stream is modified or deleted.
Superfluid supports refill deposit, which can alleviate the cash flow pressure on the payer. In the example of payroll mentioned earlier, the company's finance and HR departments need to prepare all employees' salaries on the payroll day each month and disburse them on the same day. This creates a peak in funding demand on that day every month, putting certain cash flow pressure on the company's operations. If payroll is implemented using the Superfluid protocol that supports refill deposit, then the peak funding demand can be effectively smoothed out. Superfluid also supports changing the token flow rate, has no restrictions on the end time of token flow, and other features, flexibly meeting the continuously changing payment requirements of various users.
The vision of Superfluid is not limited to building a flow payment protocol that meets the fund transfer requirements between wallet-to-wallet, wallet-to-contract, and contract-to-contract, but rather to create a readable, verifiable, and programmable real-time finance system composed of numerous real-time finance apps. In this system, funds flow continuously in the form of streams, minimizing idle capital for each user, organization, and company.
I think this concept is completely achievable.
Technology is also not lacking.
Why is no one doing it?
Unfortunately, I am a small person.
If I have above A8.5
If I have resources
If I have connections
I might really start a business with this thing.
Create a truly inclusive payment method for the general public.
Unfortunately, I am a JB.
Several million is probably not enough to hire a team for development.
Make money quietly. Let's see who will come up with this model in the future.