The business model on the internet is broken. With websites that are inten of annoying ads, content hidden behind paywalls and expensive subscriptions and data-harvesting intermediaries that run 24/7 digital monitoring, it is time for a change.
But what would such a change look like? Is one New internet Possible? What would replace ads to make money on the internet? Enter Micro and nano payments. Small payments can drive any ping request, exchange of information and interaction between people, machines and artificial intelligence (AI).
The key to doing this work is a forgotten status code built into the HTTP protocol: 402 – Payment is required. Reserved for a future payment system that was never realized, 402 was supposed to allow websites to charge users for access. However, since there was no scalable micropayment solution, it was left unimplified.
All this can change now when BSV blockchain can make one million transactions per second (TPS) with fees of fractions of one cent. Let’s dive into what the new internet can look like.
What are micropayras, and why do they matter?
When Bitcoin was released in 2009, the smallest possible online payment was about $ 5. Things have changed since then, but make payments for underdollar via most Popular payment methods is still challenging.
Micropyractions can be anything under $ 1, but they can go much lower. Today it is possible to make payments of $ 0.00001 on scalable blockchains as BSV.
Why are micropayras important? As we will explore in this article, the brand new business models make possible, reduces obstacles to entry to trade online and can basically fix the broken internet that we all trust today.
In order for micropayers to be possible on the scale required, they need a scalable tool blockchain like BSV. Slow, expensive blockchains like Ethereum will not cut it, and Layer 2 solutions don’t work.
Real use case for a micropayment -driven internet
Rather than focusing on the purely hypothetical, let’s explore some Real use case for micropymes.
Pay per Item – Have you ever wanted to read an article in a publication like the Wall Street Journal just to be hit with a paywall that asks you to connect you to a subscription? Micropyractions can fix this. Paying $ 0.20 to read an article is much more appealing and can enable many more to access high quality information. It can also significantly increase the revenue from the publications because all the people who only press the back and who will never subscribe would have another way to pay.
Web 3.0 apps on social media – Imagine you pay a penny to post on Facebook (Nasdaq: Meta) or x; Each interaction you receive pays a penny in return. Suddenly, viral posts would resemble gold, and even less hits would be profitable. Demanding a payment by mail would also cause problems for bots and spam networks, as their activities would quickly become unprofitable. Pay-to-messages can also be implemented in e-mail and other communication protocols (it may be free for approved contacts), which dramatically reduces undesirable call, fraud and other inconveniences.
API revenue generation and machines to machines- Like web content, access to APIs can be paid with micropayras. This would not only make them more accessible, but it would end users with low demand that subsidize highly in demand. Micropyractions also enable machine-to-machine payments; look This video on the Internet of Things (IoT) Too little brain food in that substance.
The transformation of games – Micro- and nano payments make Play-to-earn (P2E) game model feasible in scale. They also do to buy assets in the game such as leather, power-ups and other articles that are possible. These would be salable in secondary markets –game as Cryptofights Have already shown how this works. Whole online economies can be created in games and virtual worlds such as Metaverse, thanks to micropayras on a scale.
The economic and social consequences of small payments
Now that we have explored some use cases, let’s look at how a micropayment-driven global network would change the world. As we have learned through the Web 2.0 experiment, what happens online has dramatic consequences for the real world.
Release of the Internet – Right now, the Internet is similar to some walled gardens owned by giant companies. You can play in Zuckerberg, Musk and Bezo’s properties, but they do not interact, and they set the rules and make all the money. A peer-to-peer (p2p) internet Powered by micropayras would remove much of its power, make global trade available to billions of people and provide data sovereignty to every user. These three consequences would have almost incomprehensible consequences for how the world works.
Reduction of censorship – Now we are all aware of how Twitter under Jack Dorsey and Facebook under Mark Zuckerberg engaged in censorship and the impression of information on a global scale. With decentralized P2P communication apps and Web 3.0 Social media platforms, it would be almost impossible to do this because no one would have enough control to deduct it, and the advertisers’ power would be castrated as users would finance the content they want to see. The incentive change would also lead to much better quality content than the clickbait -nonsens we are all used to.
Massively improved integrity – It is obvious that integrity is important. In surveys on the central bank’s digital currencies (CBDC), the Western countries quote it as a Business. In 2013, Edward Snowden caused a political scandal when he revealed how the US government spied on his people. Yet, companies like Meta participate in similar levels of spying every day. An internet built on the foundation of scalable blockchain technology and is powered by micropaymms would be a gaming exchange for integrity: fewer intermediaries mean fewer opportunities to snap, and without ads there is no reason to collect all that information.
A new internet with bitcoin in scale
Unlike 1997, when 402 payment required first was introduced, a truly scalable micropayment solution today can make it function on a scale. After that Teranode -upgradeBSV -Blockchain can process one million TPs for fractions of a cent, making the original dream of the Internet possible and solves the dilemma in how bitcoin miners can remain solvent in the long term.
Being able to pay anyone, anywhere, directly through a browser or QR code would change everything. Contents would receive payment directly, spam would be reduced, fraud would be unprofitable, bot networks would fall and new companies would emerge to offer services based on micro and nano payments.
This new internet is not just a dream; It can become reality faster than many people think. The foundation has already been laid out, and the superstructure gathers slowly. Those who want to see themselves should experiment with some of the great BSV blockchain apps. Have fun and let your imagination run out!
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Listen to early Bitcoin developer Mike Hearn talk about how he would like to work on integrating micropayments into the HTTP protocol.
Look at the IPV6 Forum’s Latif Ladid: We want to combine the use of the end to the end of the Internet
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