An unregulated, decentrally managed market, where most business interactions are expected to be one-off, means some trustless mechanism must be devised. Paying for consumption in real-time seems to be an efficient way of achieving trustlessness. Invoicing along these lines, however, means that any business dealing will generate a very high number of small amounts of transactions, so-called Micro Payments.
Micropayment has not been used historically because they are not financially viable. Although some companies, such as Pay2See or Digicash proposed some solutions for micropayment systems in the late 1990s, none of these platforms proved successful. One major issue with these proposals was interoperability: most of these systems were token-based, but there was never enough liquidity (due to low volumes to start with) to ensure that tokens from one company could be traded for tokens from another.
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🔥🔥 Our premise at Bytes is that if near-instant micropayment is possible, then a number of new P2P markets will open. One such market is a secondary Internet Access market. 🔥🔥
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Topic: Blockchain Micropayments (Read 92 times)
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