Single Mention of Bitcoin, but the article itself is interesting:
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A return to peer-to-peer interactions?
Could Smith have been right and, aided by modern technology, might there be a return to peer-to-peer interactions, a revival of the outlawed Napster model, so successful for music sharing? Already peer-to-peer money (Bitcoin) has been developed and a black internet economy is emerging. The implications are unknown: peer-to-peer payments with virtual currencies have troubling implications for illegal activities, such as covert drug and arms transactions.
In the near future ubiquitous broadband, inexpensive computing power, smart algorithms, cheap data storage and 24/7 services provided by the crowd might bypass established financial institutions and enable a world of one-to-one transactions. Imagine a sort of Wikipedia model for corporate processes where the company role is merely a curatorial one.
Got a technical issue? Invite the crowd to solve it or share their experiences. Need a breakthrough in R&D? Define the problem on the net and invite solutions in return for peer recognition or a small prize. Need start-up funding for an original idea? Ask online for individual contributions in return for preferred access to the innovative product once produced.
This web-enabled, crowd-sourcing model leverages low-cost access to discretionary effort from the global online community. It hints at virtual companies rather than those hamstrung by depreciating assets, sales and service teams, and real estate. Boards of management might perform curatorial roles of communities within the crowd that contribute to elements of the supply chain in a commercial ecosystem.
As with social media, today’s companies continue to grapple with the possibilities and the risks of peer-to-peer commerce coupled with crowd-sourcing. And in the future the solutions may involve new company forms.
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Full article:
http://afr.com/p/lifestyle/review/know_it_time_to_say_goodbye_to_the_YlRCGO6eaZXReZ0hQ1KXOK
