Automatic payments and shared revenue agreement
As Bitcoin is becoming an increasingly valid currency to the general public, it – or any other cryptocurrency that could take its place in the future – could be used to do automatic payments with a set of smart contracts.
Revenue-sharing models involve taking part in operating profits – or losses – among associated financial actors. This requires the participants to be clear about how the revenue is collected, measured, and distributed. The events that trigger revenue sharing, such as online sales or advertising interactions, and the methods of calculation are not always transparent to everyone involved. Currently, the solution lies in detailed descriptions of the methodology written in the contracts, and the parties in these processes are subject to audits for accuracy assurance.
What Aleph Zero is doing
Aleph Zero could bring transparency and efficiency to revenue-sharing models, removing the need for trust or audits. It could simplify the agreements. The parties involved, after discussing the aspects of their cooperation, could use a simple UI that would allow them to create smart contracts for their own purposes. They could generate such a contract for a given period of time and from that point, they would be able to receive mutual benefits without unnecessary additional work.