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Blockchain-based media platform Odysee has unveiled further information about its new decentralized payment platform, a significant shift from its previous reliance on Stripe.
This fresh system is powered by Arweave’s blockchain technology, utilizing the AR cryptocurrency through Wander Wallet, and is set to incorporate USD stablecoins as part of its future plans.
With this transition, Odysee will phase out LBC tipping entirely, bringing it to a close by July 10.
Subscribers who support creators through paid memberships are being urged to act swiftly.
They will have a one-week window to renew their subscriptions under this decentralized model.
Failing to do so will result in their memberships becoming inactive. Note that a key feature of the update is the removal of automatic recurring payments, meaning supporters will now need to manually process payments each month if they wish to continue their memberships.
Odysee emphasized the driving principles behind this move in a public statement: “It’s here. After months of development, testing, and iteration, we’re excited to officially launch our new fully decentralized payments system – built entirely on Arweave blockchain technology and designed for anyone to use. Whether you’re a creator, viewer, lurker, or just someone who wants a simple way to send and receive payments online, this system is for you.”
The platform added, “And most importantly, we’re proud to offer you this new payment experience that aligns with the core values Odysee was built on: freedom, autonomy, and resilience. The same values we know you all signed up for.”
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The post Odysee Launches Decentralized Payment System appeared first on Reclaim The Net.
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Author: Rick Findlay
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