Crypto/web3. Author of Read Write Own

readwriteown.com

Re-reading a lot of early crypto writing from @cdixon.eth and others, and one of the themes is that of micropayments being a sizable use case.

Is this still the case in folks' minds?

If so, why haven't we seen it enabled at scale yet? Or have we?

If no, why not?

leader • reader • taco eater • fly eagles fly • /whiskey • /nativefun • previously addepar, linkedin • https://nf.td/derek

I think payments are a siren song for technologists. 

Problem with payments isn’t actually technology.

Technology doing a better job disrupting/inventing new categories, as usual

Welcoming you to the ￼Far Side. 

Managing Director at Proof Group 

Well, one problem with payments is middlemen. 

With that particular problem, it’s a problem that this particular technology can solve, no?

around the block | prev burrata, chainalysis, circle, & draftkings

Yeah agreed - but that's also why some of the crypto "intermediaries" keep a substantial amount of token in treasury.

Likely stating the obvious, but I think tokens (of all forms) are a great mechanism for aligning incentives between all the players involved.

There is something to be said for intermediaries taking on risk for providing their services. That risk might not be proportional to the rates they charge but it is worth acknowledging at least. Overall I agree with the sentiment of removing financial intermediaries.

Bingo, that’s the siren song right there!

If I had to summarize it, the payments apparatus as we know it today adds more than 3% value to merchants via lock in effects et al￼