Big Idea 2015: The Coming Micropayment Disruption

TIME

The innovation that will shape the coming year, I think, will be the consumer use of digital currencies, such as bitcoin and its derivatives. Companies such as ChangeTip, BitWall, BitPay, and Coinbase – as well as other digital wallets that make use of cyber currencies or loyalty-points/miles currencies – will empower creators and consumers of content and wrest some power from the Amazons, Alibabas, and Apples. This will upend our current kludgy financial system and ignite an explosion of disruptive innovation.

Our current way of handling small transactions is a brain-dead anachronism. Even Apple Pay and other NFC systems, alas, require that payments go through the current banking and credit card systems. This adds transaction costs, both financial and mental, that make small impulse payments less feasible, especially for digital content online.

Likewise, instantly transferring money to friends, even those who have PayPal or Popmoney accounts, is…

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