This is a PR that contains the Pending standard for recurring payments on the blockchain (subscriptions) coming from the ERC 948 Working Group
Monthly subscriptions are 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 upon the vesting model of the ICO) because
For a user:
you don't have to read a complex whitepaper to use a dapps utility (as opposed to utility tokens)
you don't have to understand the founder's vesting schedules
you can cancel anytime
For a dapp founder:
since you know your subscriber numbers, churn numbers, conversion rate, you get consistent cash flow
you get to focus on making your customers happy (as opposed to having two actors: speculators & users)
For these reasons, we think it's worth creating a standard way to do 'subscriptions' on Ethereum.
A standardized interface for recurring subscriptions on the blockchain.
How / Logistics
This PR is not ready to be merged yet. It will be updated as the working group comes to consensus on the EIP standard.
Architecture's we are considering
Github Account for the Working Group
We have weekly calls where we discuss and get aligned. Go to the Gitcoin Slack and join #proj-subscriptions to join the chat / ask for a calendar invite.