Streaming payments is one of the many benefits that come with programmable blockchain. It is a solution to several issues related to scheduled recurrent payments. The applicability of streaming payment cuts across virtually all financial transactions. To better understand this concept, we look at the traditional payment methods (which are service-based) compared with streaming payments (which are time-based). In traditional payment methods, a payment is made to a payee in exchange for time (in an employment situation, for instance). This creates a debt obligation from the payer to the payee; this implicit debt carries no interest, is non-mutual, and favors only the payer. However, in streaming payment, time is measured using block numbers, and the agreed-upon payment rate is streamed continuously to the recipient. This time-based payment system is far superior to the traditional payment system because, unlike the latter, which requires rigorous processes, all the payer using the streaming payment needs to do is to key in the agreed parameters, and all is set. On the other hand, recipients can also receive their salary on demand.
Streaming payment platforms such as Streamflow are the future of decentralized payment. It is a step forward into a future of continuous, scheduled payment with low gas fees and fast transaction time. In the near future, it is expected that individuals will earn yield on streams, use them as collateral and trade them. Future use cases of streaming payments include; simple payments for the recurrent purchase of consumer goods, subscriptions for products and services like cellular services, electricity bills, Netflix, etc., pension payments, remittance and allowances, rent payments, IPOs, ICOs, IEOs, etc.
How Does Streamflow Work?
Streamflow is a blockchain-powered platform that specializes in token distribution by combining token vesting, payroll, and batch payments through a secure and user-friendly multi-signature wallet. The current financial and technological frameworks are not properly built to successfully carry out continuous payments. Such payment processes can only be efficiently handled by blockchain-powered systems. Streamflow presents to us a future where the yield can be traded, broken down into smaller streams, or grouped to form bigger yields. The money never stops but keeps streaming as long as is needed.
According to Malisha, the founder of Streamflow, the advent of blockchain technology brought about a world of possibilities, and streaming payment is one of those possibilities. The founder also highlighted that the currently existing financial system has failed to assure continuous payments. However, blockchain technology not only supports and assures continuous payments but also ensures low fees and fast transaction time. Malisha also revealed that they envision a future where people can yield on a stream, collateralize it, transact with it, organize multiple streams into bigger ones, and break down bigger streams into smaller ones. Malisha sees a future where money never stops, money streams, and flows.
Furthermore, Streamflow is a solution to an issue that is faced by most developers during the course of their projects. Utilizing Streamflow features such as vesting schedules and organizing payrolls, developers can pay full attention to their projects rather than dividing their attention by getting into some time-consuming tasks like structuring custom contracts and sending funds. They can also transparently and securely process large payments to investors, and regular payment to employees.
Great Projects attract Great Investors
Within its relatively short time in the industry, Streamflow has attracted top-tier investors. With Jump Crypto as its major investor, Streamflow is on course to disrupt the payment technology industry. Jump Crypto has a success story, partnering with projects that have turned out to be giants in the cryptocurrency ecosystem such as Phantom, Trade view, BlockFi, Saber Coinlist, etc.
The project has experienced impressive growth with over 150 million dollars in total locked value, more than 2500 streams, and 90+ tokens.
Conclusion
The crypto industry continues to expand, and projects continue to employ more team members. The existing payment structures are not well suited for payment of these team members who are most times remote. Team distribution is on the increase, and projects will have to make payments to members through streams of tokens. Platforms like Streamflow are required in order to meet up with the demands. Also, streaming payment will eliminate the hassles and costs of making frequent payments for goods and services. It offers a better way for subscription payments. For more information and details on how you can seamlessly earn passive income on Streamflow, login to the project website and get started on your journey to financial freedom.
