#4 Untangling: Micropayments

Join hosts Alec and Jack on an exciting episode of "Untangling Web3" as they explore the world of micro-payments and their transformative impact in the realm of Web3. Discover the origins of micro-payments, their fascinating history, and the challenges they face within traditional payment systems.Delving into history, our hosts trace the roots of micro-payments from Web1 to the groundbreaking introduction of the "payment required" status code (402). They uncover how traditional payment systems often hinder micro-payments due to fees and unnecessary intermediaries. It's time for a change!Enter Web3, where Alec and Jack reveal the immense potential of micro-payments. Thanks to peer to peer transactions through blockchain technology, Web3 offers an ideal environment for micro-payments to thrive, unlocking new economic models and opportunities.Exploring the opportunities within Web3, Jack focuses on micro-incentives, where gamification takes centre stage. Micro-payments can motivate positive behaviours, such as health improvement or recycling plastic bottles. Alec explores payment streaming, envisioning real-time payments for energy consumption and pay-per-minute media streaming.Join Alec and Jack on "Untangling Web3" as they unravel the mysteries and opportunities that lie ahead.