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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Are there any resources you'd suggest for someone like me seeing dumb pipes as a concept for the first time?
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google should turn up some hits... common industry jargon
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People said the same thing about the internet. If the past is any guide (tv, radio, telephone, internet), the world (sadly) bends toward centralization.
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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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I like a dissociative/elliptical mashup of industry meme + cultural concern as much as the next guy, but this makes no sense at all.
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