Smart contracts (Self-executing Agreements)

Bitcoin’s Turing complete script offers a wide range of potential use cases that can benefit all manner of business operations.

For example, it can be used to calculate complex payment problems such as the travelling salesman problem and network routing, enabling more efficient payment processes and guaranteed execution of conditional payments. Bus companies could put up rewards for the public to develop shorter routes for them which can be automatically paid out when a valid solution is calculated in script.

Additionally, Bitcoin’s Script can facilitate video streaming within a payment protocol, creating a seamless payment and content delivery experience for users. Instead of paying $5 for a movie that you might turn off after a few minutes, customers could only pay for the amount of the movie they watched, updating their payment agreement on a second by second basis.

By leveraging Script for logistics purposes, we can enhance supply chain, warranty, and insurance processes while limiting exposure of customer details during transit. An item could be shipped from Amazon with an invoice that has both the logistics company and the customer as payees, and the logistics company will only be paid when the customer signs for the document with the identity that purchased the item, even though the logistics company may never know that identity itself.

Script can also be used for proof of read receipt, providing a secure and efficient method of tracking the receipt of important information. This would be useful for electronic data interchange, project management and for courts to have a method which assures a party has been served correctly.