Joshua Henslee understands the big picture when it comes to Bitcoin. This week he posted a video detailing four major companies he thinks Bitcoin will disrupt and why. Watch via the link or read a breakdown of Henslee’s thoughts below.
The first company targeted by Henslee is Spotify. He previously noted how vulnerable Spotify is to disruption by Bitcoin, given that it is under political pressure and has shown a willingness to censor controversial material.
With an increased transaction size limit, entire podcasts could be uploaded to the BSV blockchain. They could be monetized through micropayments, paid reviews, paywalls, and various other methods.
Of course, this does not allow people to download illegal material. This could still be removed by legal order. However, it cannot be randomly removed by a company simply because of political pressure or because the company does not agree with what is stated. This would go a long way to protecting free speech and combating cancel culture.
Henslee also notes that there is no need to upload the audio file to the blockchain. Instead, it could just be the hash. Suppose a service provider decides to “nuke” or censor a podcaster or speaker. In this case, they can simply download their hardware and switch to another service provider with all their data intact.
The ride-sharing app Uber has taken the world by storm and disrupted the rigid taxi industry. However, Henslee believes now is the time for Uber to be disrupted. He says he’s used the service a lot, but he hasn’t since 2020.
Why is Henslee frustrated with Uber? For several reasons. First, he believes it has succumbed to corporate culture and the pressures of being a public company. Second, the cost of fees through traditional fiat payment methods does not allow for short journeys. There is a floor on the fees Uber drivers can charge because of this.
Obviously, Bitcoin SV can solve this problem because it enables micropayments, opening up the possibility for a driver to take someone a mile down the road for 70 cents or less. It can also allow split payments and the flow of money.
Henslee likes the idea behind Patreon, but he sees how Bitcoin could disrupt it. He notes that Patreon is nothing more than a profile page and feed like Twitter. It has many of the same features, such as like and share buttons that micropayments are ideal for.
However, in this case, Henslee sees the option of a subscription model through a wallet like HandCash. With fees this low, Henslee sees a world where the 12% fee that Patreon charges is eliminated, the $3 floor is removed, and hour or day subscriptions are possible, thanks to the reduced costs.
Henslee notes that PayPal is an obvious company Bitcoin should disrupt. He rightly says that the fact that PayPal still exists highlights how little “crypto” has been done. He thinks it’s a joke that PayPal embraced BTC and other altcoins when Bitcoin really should have destroyed it a long time ago.
He notes that BitPay has tried to disrupt PayPal in the past and has even been adopted by Microsoft and others. However, this all fell apart due to the insistence on 1MB blocks and high fees on the BTC network.
Could HandCash be the only one doing this? Henslee hopes so, but some features still need to be implemented to compete with PayPal.
“Paypal is a trusted third party that has embraced crypto. That tells you everything you need to know,” says Henslee.
The common denominator to all of this:
The one blockchain that can disrupt all of these businesses is BSV, and the common thread running through it all is micropayment. Sure, Solana and some other chains can facilitate small payments, but they repeatedly exploded when tested at scale.
BSV can allow payments of 1/1,000th of a cent or less, and it is already scaling up to 50,000 transactions per second. It will take massive scaling and extremely low fees (as Satoshi Nakamoto talked about) for Bitcoin to succeed in disrupting these giant corporations and others like them.
Hopefully blockchain developers will soon realize what Bitcoin really is. It was never meant to be a token used solely for speculative purposes. It was always meant to be a disruptive micropayments platform and an immutable global ledger.
Watch: CoinGeek New York Panel, Micropayments for the World: APIs, Tokens, and Compute
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