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?

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￼

Context for my bias, I oversaw the working group of all of the different merchants trying to except Libra payment. The hardest part was to integrate into peoples multinational payment stack, not the fees

Two good bad examples:

Square drives so much extra $$ in the form of tips that it earns it’s keep (smb)

Starbucks is able to break out of the monopoly bc it’s needs were so specific (and scale big enough)