How to set and cancel a recurring payment

Authored by @silverstackeruk

Hello, SPIer's. Today we are going to look at 1 of the new toys we got in last week hardfork, it's a good one and something I have always thought would be great but never actually thought it would be added. What else could I talking about other than "recurring payments". As an investment token, this opens a lot of doors for us as we can basically create new things that let and reward users to invest/save regularly on the blockchain. Real game-changer.

Ok so I had planned to do a bunch of snapshots to show a detailed tutorial of how to do this but it's dead simple, just as easy as a normal transfer with a few extra steps. I went ahead and took 20 minutes to make a quick video instead. To be honest, I dont even think a tutorial should be required as it's that easy but just to show how easy,

Obviously, @cublife is perfect for this upgrade based on its monthly distribution model where new CL is minted and issued on the 21st of each month. I can see 1 user @bashadow is the first investor to have a recurring payment set up to @cublife.

This opens the doors to many projects that have been around but never done well. Some projects are heavily dependent on new cash flow to grow and build, ponzi scams will be the 1st thing many will think of but im thinking of projects like lotto's, saving clubs, etc. These sorts of projects start well but receive regular payments to survive. What good is a lotto if people buy tickets once and never again? No good is the answer. Same for a savings club, they start out strong with good intentions but fail because people forget to make payments and then quit. Recurring payments offer the lifeline of regular new funds and that's a big deal when it comes to growth.

Today's post is not a long one as the video took me a little time. LBI will be taking advantage of this upgrade so I thought a quick tutorial to show our share to others would be a good way to say, we're gonna need to know how to do this as we might build projects around it. Should also mention it's HIVE only, no hive-engine tokens. This could be something the hive-engine team might release but if they cant pull a fee from it, we'll probally never it.

Thank you for taking the time to read through this post, if you liked it, feel free to upvote are share it.