Creator of World's First Bitcoin Fuel Pump Plans Lightning Support
The creator of the first ever commercial fuel pump to accept bitcoin has revealed a plan to add Lightning Network functionality to his design.
:format(jpg)/cloudfront-us-east-1.images.arcpublishing.com/coindesk/YLB5TFQWNNDARGMSVWDEJX537Y.png)
The creator of the first ever commercial fuel pump to accept bitcoin has revealed a plan to add Lightning Network functionality to his design.
The original machine, designed and built by Andy Schroder in 2014, allows users to scan a QR code and send bitcoin instead of more traditional means of payment. Schroder now wants to adapt his design to incorporate the Lightning's off-chain payments, he announced on the Lightning-dev mailing list yesterday.
However, Schroder pointed out some issues he has with Lightning – which he hopes will provide "real-time micropayments" – including that its invoice protocol BOLT 11 does not appear to accommodate refunds. Refunds are a necessity for the bitcoin fuel dispenser, because it runs on a fixed prepayment, and immediately returns any unused credit at the end of sale, he said.
Schroder is currently using bitcoin improvement protocol (BIP) 70, a user-friendly payment protocol that creates a receipt for the customer, as well as automatically providing a refund address to the seller.
He stated in the mailing list:
He also speculated about a possible fix for this problem that would involve fitting cars with an onboard digital wallet, though he conceded this is not a short-term solution.
Fuel pump image via Andy Schroder
DISCLOSURE
Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.
Learn more about Consensus 2024, CoinDesk’s longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.