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Payment processors now face the dumb pipes challenge that previously hit cable TV, telcos, and device makers. Patreon is first battleground. Crypto will be the radically dumb-pipe option if you don’t want payment processors to curate cultural opinions on behalf of an audience.
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For sure. I don’t think the lesson here is “now everyone can be their own payment processor!”. It’s that the barrier to entry has been so lowered that new entrants are welcomed and can innovate to create consumer surplus.
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