Re:Cloudflare's Ethereum Gateway
by langitbiru on Wednesday June 19, 2019 @01:05PM
(#20225074)
Ethereum is a more flexible programmable money compared to Bitcoin.
For example, I can create a smart contract where I can send money (say 10 ETH or USD2600) to my cousin every month. But I want my cousin to use this money to better him/herself. I want her/him to spend it on education (buying books, subscribing to programming course) not on something else (buying alcoholic drinks, etc). With PayPal, I can only send him/her money. But with smart contract, I can create a whitelist of merchants easily. And I can be very creative. I can create a condition on which on Sunday only, my cousin can spend some money to buy ice cream.
Re:Cloudflare's Ethereum Gateway
by therein on Wednesday June 19, 2019 @01:52PM
(#20225437)
Not as easily as you make it sound to be. Whitelisting merchants surely will require, a whitelist. Given merchants generate brand new addresses to receive transactions, that'll be tough.
For example, I can create a smart contract where I can send money (say 10 ETH or USD2600) to my cousin every month. But I want my cousin to use this money to better him/herself. I want her/him to spend it on education (buying books, subscribing to programming course) not on something else (buying alcoholic drinks, etc). With PayPal, I can only send him/her money. But with smart contract, I can create a whitelist of merchants easily. And I can be very creative. I can create a condition on which on Sunday only, my cousin can spend some money to buy ice cream.