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ConsenSys on Wednesday announced the successful implementation of EIP-1337, a new Ethereum standard that introduces a recurring subscriptions payment model that’s popular with Web 2.0 companies. Monthlysubscriptionsare a key monetization channel for legacy web, and arguably they are the most healthy monetization channel for businesses on the legacy web (especially when compared to ad/surveillance) based models. They are arguably more healthy than a token based economic system (depending See more Forget tokenization, subscriptions on the blockchain are here. I am thrilled to announce the launch of EIP 1337 Alliance. Changing times and economic dynamics of the modern consumer, customers today are less keen on paying large amounts for products or services upfront. Instead 💰🕰️📋 EIP 1337 POC - Token Subscriptions on Ethereum Subscribers sign a single off-chain meta transaction that is periodically resubmitted to the blockchain to create a trustless For a Service Provider: since you know your subscriber numbers, churn numbers, conversion rate, you get consistent cash flow, and accurate projections; you get to focus on making your A standardized interface for recurring subscriptions on the blockchain. The key monetization channel for legacy web, and arguably they are most healthy monetization channel for Announcing the successful implementation of EIP-1337, an Ethereum standard bringing recurring subscriptions to the blockchain. In April of this year, ConsenSys published Building blockchain support for proven business models and systems like subscription services is a no-brainer project for Ethereum. On-chain subscriptions provide a healthy alternative to token models while pushing In essence, the mechanics of ERC-1337 revolve around leveraging the capabilities of smart contracts to orchestrate recurring ‘pull payments’, opening up a world of possibilities for

Blockchain Subscription Services Are Here: ERC-1337 Revolutionizes Payments

Forget tokenization, subscriptions on the blockchain are here, thanks to the successful implementation of EIP-1337! ConsenSys on Wednesday announced this groundbreaking Ethereum standard, introducing a recurring subscriptions payment model familiar to Web 2.0 companies and poised to transform the decentralized world.

Why Blockchain Subscriptions? A Healthier Monetization Model

Monthly subscriptions are a key monetization channel for legacy web, and arguably they are the most healthy monetization channel for businesses (especially when compared to ad/surveillance-based models). They are arguably more healthy than a token-based economic system (depending). EIP-1337 brings this established model to the blockchain, offering a standardized interface for recurring subscriptions and consistent cash flow for service providers.

EIP-1337 Alliance: The Future of Recurring Payments on Ethereum

Changing times and economic dynamics of the modern consumer mean customers today are less keen on paying large amounts for products or services upfront. Instead, they prefer the flexibility of subscription models. I am thrilled to announce the launch of EIP 1337 Alliance, a movement dedicated to promoting and developing this crucial standard.

Benefits of ERC-1337 for Businesses and Users

For Service Providers: since you know your subscriber numbers, churn numbers, conversion rate, you get consistent cash flow, and accurate projections; you get to focus on making your product the best it can be. Announcing the successful implementation of EIP-1337 allows for better financial planning and sustainable growth.

For Subscribers: EIP 1337 POC allows for trustless token subscriptions on Ethereum. Subscribers sign a single off-chain meta transaction that is periodically resubmitted to the blockchain to create a trustless payment system. Building blockchain support for proven business models and systems like subscription services is a no-brainer project for Ethereum.

How ERC-1337 Works: Pull Payments on the Blockchain

In essence, the mechanics of ERC-1337 revolve around leveraging the capabilities of smart contracts to orchestrate recurring ‘pull payments’, opening up a world of possibilities for decentralized businesses. On-chain subscriptions provide a healthy alternative to token models while pushing the boundaries of what's possible with Ethereum.

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Explore the possibilities of blockchain subscription services and join the EIP-1337 revolution today!