Why machine-to-machine payments are the new electricity for the digital age

Core Insights - The evolution towards an economic system where software and devices transact autonomously without human involvement is underway [1] - Machines will not only execute transactions but also make decisions and coordinate with each other in real-time, leading to fully autonomous supply chains [2][3] - Continuous micro-transactions and machine-to-machine (M2M) payments are essential for the viability of this new machine economy, akin to how electricity enabled mass production [3][4] Group 1 - The new economy will rely on billions of tiny, continuous transactions rather than large, infrequent payments [3] - Blockchains are positioned as the critical infrastructure for enabling these microtransactions, similar to how electricity served as the power grid for modern industry [4][5] - Current payment systems are outdated, resembling pre-electricity methods that are episodic and heavily mediated by humans [6] Group 2 - M2M payments combined with micro-transactions will create an ambient value exchange, allowing machines to operate continuously without interruption for payments [7] - The advent of blockchain technology facilitates instant and low-cost value transfer globally, which is crucial for the implementation of continuous M2M payments [8]