Taking local commerce off-the-chain
summary
Argues Lightning makes online payments cheaper than in‑store, reversing “payment processing gravity” and cutting out banks and processors; cites US card fees (~2.6%+10¢ in‑store vs ~2.9%+30¢ online) and a $3 coffee example (business pays ~12.9% online, ~5.6% in‑store). Describes tools and pilots: Lightning, Strike, Chivo, Oshi marketplace, programmable sats rewards and redeemable vouchers; reports 18 businesses in Redding and 30% of a main street in Austin onboarded, ranchers/farmers and Texas Beef Initiative pilots showing live local commerce flows.
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chapters (5)
- 0:00Start
- 0:36Taking Local Commerce off the Chain
- 1:26The E-Commerce Paradox
- 4:01Payment Processing Gravity
- 11:25Internet Adoption
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