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I 'm reflecting on this since a while.
On markets today: on one hand we're seeing ultra-specific domain models (marketplaces) and on the other end very generic/horizontal contracting platforms, such as Haier's rendanheyi and its supporting software
On markets today: on one hand we're seeing ultra-specific domain models (marketplaces) and on the other end very generic/horizontal contracting platforms, such as Haier's rendanheyi and its supporting software
Haier's EMC (self-managed and self-defined multi-sided smart contracts aimed at creating a certain outcome) is a kind of *evolution* of a transaction: as transaction cost plummets complex (smart) contracts can become the new transactions, reducing the need to rely on scale.
In terms of evolution:
1. We started with complicated and dumb contracts = bureaucracies: amassing suppliers, contractualize them for the long term, the only part of the transaction that was left on the market was purchasing (consumer);
1. We started with complicated and dumb contracts = bureaucracies: amassing suppliers, contractualize them for the long term, the only part of the transaction that was left on the market was purchasing (consumer);
