System and method for performing social media cryptocurrency transactions
A method includes receiving, at a social media software module operating on a user device, input from a first user associated with a payment from the first user to a second user, wherein the social media software module provides a social media interaction which enables communication between the first user and the second user, receiving, in connection with use of the social media software module for the social media interaction, a payment authorization from the first user for the payment to the second user and initiating, from the social media software module and based on the payment authorization, a blockchain-based payment from the first user to the second user. This approach incorporates a cryptocurrency wallet into a social media application to reduce friction and enable easy payments between users of the social media application using a cryptocurrency for at least part of the transfer of value from one user to another.
1. A method comprising:
receiving, at a social media software module operating on a user device, input from a first user associated with a payment from the first user to a second user, wherein the social media software module provides a social media interaction which enables communication between the first user and the second user;
receiving, in connection with use of the social media software module for the social media interaction, a payment authorization from the first user for the payment to the second user; and
initiating, from the social media software module and based on the payment authorization, a blockchain-based cryptocurrency payment from the first user to the second user, wherein the social media software module transmits a payment request to a second software module operating on the user device, the second software module having an application programming interface that defines a protocol for communicating data between the social media software module and the second software module for managing the payment from the first user to the second user.
2. The method of claim 1 , wherein the second user comprises one of a person or an entity.
3. The method of claim 1 , wherein the social media software module is associated with one of a messaging application or an on-line social media site.
4. The method of claim 3 , wherein the messaging application provides a message with which the first user can interact to provide the payment authorization.
5. The method of claim 1 , wherein the payment authorization is provided via a biometric reading associated with the first user.
6. The method of claim 1 , wherein the first user provides the payment authorization via a text in the social media software module.
7. The method of claim 6 , wherein the text identifies both the second user and an amount associated with the blockchain-based cryptocurrency payment.
8. The method of claim 1 , wherein the blockchain-based cryptocurrency payment from the first user to the second user comprises initiating a payment from a first user wallet associated with the first user to a second user wallet associated with the second user.