Most people just weren’t ready to live online. Perhaps most importantly, using the internet was still a novel, infrequent activity. Unlike today, where most of us now spend several hours online daily – back then, it was something you’d “turn on” a few times a week at most.
There are technical implementations for all types of payment services outside of the typical on-chain transaction, from micropayments, which allow video streaming companies to pay for each unit of video transcoded, to state channels that allow two people to agree on a value exchange that only gets executed if something happens, and paid subscriptio... See more
Any product that has a social component baked in has fundamental and asymmetric advantages over competing non-social products in that category: better growth loops, better engagement, better retention, better defensibility.
Of course it would be foolish to believe that you can boil down all this down to just money. There are many other implications on human welfare, and they will be explored as well. So really, the formula for the IoJ is: