The internet has wanted for a very long time a system for micropayments: extremely small financial transactions (perhaps fractions of a cent) for small things. Most famously, it could combat spam (possibly with donations to charity).
A financial institution could single-handedly implement micropayments for transfers among its own accounts. To participate in micropayments, both the sender and recipient would have to have accounts there. One could then imagine scaling the system with interbank transfers, or simply have it that most people have accounts with many micropayment banks.
What is the minimum micropayment that an infrastructure can support? What is the actual cost in terms of computing that a financial transaction requires?
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