My argument is fairly simple. Zero fees are actually inevitable. Like the famous or infamous last words of Thanos in ‘Avengers Endgame’. “I am inevitable.”

Though, if something is inevitable, the question must be, is this the right time for such inevitability? Take the famous startup example of Webvan vs. Instacart. Webvan started more than 10 years before Instacart with the same idea, revolutionizing grocery delivery, but it miraculously failed. Why? It’s clear that timing and technology are deciding factors in the inevitability of these successes or failures. When you start to think of the future filled with spacecraft and flying cars, do you ever think of how money travels? Are humans still paying trillions each year in foreign exchange fees? I think not. My argument for zero fees is supported in 2 main parts. Through the costs of cloud computing and global trends.

Costs of Cloud Computing

We all see buzz words like cloud computing or cloud storage in our daily lives. The only way we have been able to enjoy some of the most valuable services is through services like Amazon Web Services(AWS) and Google Cloud Platform(GCP). From social networks to financial services. We rely heavily on cloud computing and storage to enhance and enrich our lives. Like Moore’s law, Jeff Bezos coined his own law, “The Cost of Cloud Computing will be cut in half every 18 months.” Perhaps one day I could argue for Garrett’s law, “The cost to send payments globally will be cut in half every 18 months.” What many people unconsciously believe is that a tweet or google search costs less than a payment. Using legacy financial systems, this can be true, but harnessing the modern payment gateways, the cost in most cases(regardless of $ amount being sent) is cheaper than a tweet or search. So why are we still paying annoying fees for these services? This is largely due to flawed business models that were implemented before the cloud computing revolution began. Companies are hoping and praying that start-ups don't realize this and upend their maturing markets.

Global Trends

On most of our mobile phones, we have at least 1 app that enables free sending and receiving text and SMS messages. 10+ years ago, when texting first started, you had to pay monthly for your texts. Though the cost to send texts has now come down so much, most plans include unlimited texting as a freebee.

So, with the costs of texting, cloud computing, and payment processing all decreasing rapidly at similar rates, it’s clear there should be changes coming. Paying anyone should be unlimited and free, just as your average phone texting plan has.

Currently, there are no such services. Sending with PayPal gives you high fees.

Bitcoin has high fees, can't scale, and takes too long to complete transactions. Ethereum gas prices fluctuate dramatically causing instability to transact reliably and cheaply. So where do we go from here?

Through the costs of cloud computing and global trends, I believe zero fees are viable. So, the question to close with is, when does the inevitability come? It must be now.

Author’s note: This piece is brief and covers some of the basic reasoning behind my opinion toward zero fees. I plan on writing and explaining my mindset in other interviews or articles and I’m excited to play an integral role in this inevitability. @chadsgarrett on all social media

Disclaimer - The views and opinions expressed in this article are those of the author and do not represent the views of Bit2Buzz.