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Author Topic: Rich data with transactions  (Read 436 times)
szorzi
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April 03, 2014, 10:05:14 AM
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Hi,
this might be an easy question - i tried to search but couldn't find it, so apologise if it is a repetition of other posts.

We are working on b2b payment applications and have started seriously considering bitcoin powered transactions as a solution to offer our clients. It is my understanding that bitcoin supports sending additional data together with a transaction (e.g. date, item number, invoice number, shipping address etc.) a feature that would be highly attractive for b2b and would facilitate reconciliations and other typical business needs.

Is this correctly understood? and if so, how does it actually work?

thank you for your help

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April 03, 2014, 10:39:21 AM
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As far as I know, the amount of data you can put is very small.

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April 03, 2014, 10:44:02 AM
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As far as I know, the amount of data you can put is very small.
I agree, it's not long enought for, for example excrypted messages and so on.
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April 03, 2014, 12:50:15 PM
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Hi,
this might be an easy question - i tried to search but couldn't find it, so apologise if it is a repetition of other posts.

We are working on b2b payment applications and have started seriously considering bitcoin powered transactions as a solution to offer our clients. It is my understanding that bitcoin supports sending additional data together with a transaction (e.g. date, item number, invoice number, shipping address etc.) a feature that would be highly attractive for b2b and would facilitate reconciliations and other typical business needs.

Is this correctly understood? and if so, how does it actually work?

thank you for your help

The better way to handle it is for the payment receiver to generate a brand new bitcoin address for each and every transaction.  When they give the bitcoin address to the payer, they can take note in a database of the date, item number, invoice number, shipping address etc.  Since every bitcoin address will be unique, they can then identify exactly what the payment is for by looking to see which address gets paid.
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