BTCexplicitly

BTCexplicitly refers to a theoretical framework for attaching explicit, machine-readable metadata to Bitcoin transactions to improve provenance, compliance, or consent tracking in discussions and hypothetical scenarios.

Under this framework, users could opt-in to include metadata fields such as purpose, recipient consent, or asset origin. Metadata would be cryptographically bound to inputs or outputs, designed to be verifiable by intended auditors while preserving fungibility to the extent possible.

BTCexplicitly might rely on a metadata layer outside the core consensus, using standardized data formats (e.g., script-embedded hints, off-chain registries) and attested data with revocation capability. The design would contend with privacy and scalability trade-offs; validators would see additional data, and wallets could implement controls.

Use cases include regulatory compliance (KYC/AML), supply chain provenance, charitable donations transparency, and digital asset provenance.

Criticism centers on privacy risks, potential surveillance, blockchain bloat, fragmentation, and threats to Bitcoin's fungibility.

As of now, BTCexplicitly remains a hypothetical concept without formal standardization; no widespread deployment, discussed in academic or industry contexts.