Hedera18 – Future of Micropayments: Hedera In-Browser Wallet Demo – Patrick Harding

– I've got a demo, and I'm
gonna start with an overview of what we're talking about here. So this is basically the
way we envision B to C micropayments possibly working
on a news or media website. On the left, we have the consumer. They have a Hedera cryptocurrency wallet, likely its own Chrome extension or some such thing in their browser. On the right, we have some
sort of web server or business. They have a cryptocurrency wallet, so they can receive payment. They also, on that side,
have possibly some sort of payments software that we've given them that allows them to embed
that into their website so it can talk to Hedera and
actually handle a payment. So the first step is the
user's gonna request access to some sort of digital asset: a song, a video, an article, a file. The website's gonna
basically tell the user, that this costs something
now, in that response. The user can then decide, "Am I willing to pay for that or not," based on how much it is.

And if so, if they are willing to pay, then in Javascript, in the browser, we'll basically create the
micropayment transaction and sign that fine for
a payment transaction with the private key that's
in the browser in the wallet. That micropayment transaction
now is gonna be sent down to the web server. And the little payment software we have there is gonna turn around and, in step four, send that to Hedera, where Hedera is gonna, essentially, process that cryptotransfer.

So a certain amount of
currency is now gonna be moved from the user or consumer's account into the business's account, in this case. Now, if that payment completes okay, then, in step five, that digital asset can actually be now shared with the user, and they can read the
article, watch the video, whatever it might be. So that's it in a nutshell. Now, I'm gonna basically shift, and I'm gonna sort of show how
we feel this can be adopted by websites and by consumers. If we get the video up, here we go. So, before I get started,
I'll just sort of set this up. This is an example
website newspaper article, sort of a newspaper website. On the top right, you'll see
a tiny, little black HBAR logo that indicates that we have
a Chrome extension installed that supports HBAR. The fact that it's black here
indicates that the Daily Bugle accepts HBAR, if you want
to pay for the articles. I have that Chrome extension. That's my wallet. It's basically a Chrome extension wallet that's been installed.

And obviously, the Daily
Bugle's been enabled to support Hedera or HBAR micropayments, essentially, in the background. So I'm gonna start the demo. So we're gonna highlight the fact that it still has the existing
business models in place. But then, if you pause right there, that shows that the Chrome extension, my browser wallet, has
about $20 of HBAR in it. And if you can see there,
down at the bottom, and I'm actually reading
this in real time.

It basically says that… We're not gonna support any
payments on this domain. It sort of says zero. So that basically means
I've got to authorize or consent to any payments
coming out of my account if one of these articles
costs more than zero. That means that anything that's
on the website that's free, basically I can just read and look at. But if one of those
articles costs something, then I'm going to actually have to consent to that in this situation.

Now, the whole point of this demo is to make it very
transparent to the user. I've done single sign-on
demos in the past, where basically you showed
people starting at one place and moving to another place, and they don't have to authenticate. And they go, "Why doesn't
it always work that way?" The whole point of this is to actually make it very
transparent to the user. There's a few setup
things they have to do.

You'll see in a minute
that it starts to get simpler and easier than
what they're using. So starting the demo again… You can see their public key. You can see there hasn't
been any recent transactions. Now they're gonna click on
an article they want to read. Now we have a little thing at the top. Let's wait a second. Pause right there, actually. That article costs a small
micropayment to actually read. And, in this case… Some Javascript is popping up
to basically allow the user to consent or authorize
that they're willing to pay, in this case it's, I think,
two hundredths of a penny or something like that,
to read that article.

They get to authorize it. They also say, "Hey,
anything on this website, the Daily Bugle, that costs
two hundredth of a penny? I'm okay with basically paying that for all the other articles as well." So, basically, it's consenting to it, and then saying, "Hey. Anything else that's two
hundredths of a penny, I don't want to be prompted again. Just debit me when I read these articles." So, let's keep moving forward. I approve the debit. Now,
I get to see the article. Notice how the ads have
gone, in this case. No ads on this page,
because I paid for it, which would be nice in many situations. Now we're gonna go back to the website. We're gonna look actually
at a video instead. Now, videos, for different reasons… Let's pause right there.

Videos, for different reasons, cost more. In the case of the video, it's gonna be five hundredth of a penny. So, in this case, because
I've only approved previously up to two hundredth of a penny, now I'm gonna approve
five hundredth of a penny is okay as well. Let's click forward, keep moving. So in this case, I'm gonna approve it… and say yes. And we can now watch the video. Very nice. Now, obviously, in the background, I'm seeing stuff debited out
of my account, basically. This is all happening in real time. Now if we go look at my wallet, or my Chrome extension, if we pause right there, you'll see now that the Chrome
extension has gone to green. And that's meant to be
a signal to the user that this website not only supports HBAR, but you've actually approved sort of auto-debits for this website.

So basically if it's green,
you know that if you're clicking on things, it's
highly likely you're gonna be basically paying for
things behind the scenes when you read them and access them. So, in this case, my fiat
amount hasn't changed, because the amount the HBAR we were talking about was so small. So, essentially, even
though I've done two things, in dollars, it really hasn't
moved the needle at all, but obviously, my HBAR
amounts have been debited.

If you move forward here a little bit now, you can also see that
my defaults have changed on what I'm willing to pay on the site, and also my transaction history for the two transactions I've seen. So now we're gonna skip forward, and I'm gonna start to
interact on this site. I hope you don't get seasick here. Lots of things are gonna happen. Watching videos, reading articles, doing all sorts of things. Let's slow it down a second now. If you pause right now… So, seven hours later, I've finished reading the Daily Bugle.

And I've spent all of 58 cents now for all those things that
I've seen and read online. Happily paid for them, preferably without any advertising coming at
me and stuff like that. This all happened, transparently, in the background, in real time. This is good. Let's move forward a second. You can see all the transaction history, everything that occurred,
while you're doing it. So I changed to a slightly
different news case.

Let's pause right there. So I've always been
frustrated that I get sent really interesting
articles to read via Slack, via email, via text, stuff like that, and I click on them, and I
get put up against a paywall, and I can't actually access that article that I'd like to read. And, to be honest, I'd just
like to read the article. I actually don't want
to sign up, as I said, for that service, just
to read that one article. So this is sort of an example of how we might be able to address
that with micropayments. So if you click forward a second here.

If you move forward. The users gonna click on
this interesting article they want to read. Pause there actually. So now, I'm back at the Daily Bugle. This is a different user in this case. So they haven't been to
the Daily Bugle before. They've been told by a
friend to read this article. Now, rather than signing up for that $19.99 a month thing to
actually read it, guess what? Because I have my Hedera micropayments Chrome extension installed,
and this website supports HBAR, I can actually approve now
just a one-time payment for two hundredth of a penny
just to read this article. And maybe never go back
to this website again, because I didn't like it. But that's okay, because
I paid to read it. I was okay paying to read it, and I'm good with it, moving forward. So if you move forward, you can see I've paid, and there it is.

I get to read the article now. I would love to be able to do this today. Now, maybe I might uplift myself to a subscription service at a later date. Maybe it's less expensive, if
it's a subscription service, because I actually am okay with that. There's all sorts of business
models that can merge. So in summary, I think
micropayments are gonna be one of the main differentiators
of the Hedera platform.

We definitely think that
decentralized micropayments can disrupt some of the Web 2.0 business models that are out there. We can handle smart contracts. We're gonna give you a file system, but we're really excited about
the micropayments models here and basically the fact that it's gonna be economically viable. It's in runtime, ad-hoc, decentralized micropayments between parties. Really, really excited about that. And I think that's a thank you very much. I appreciate it. (applause).

You May Also Like