The Peer To Peer (P2P) economy is becoming more and more significant in today’s’ world.
P2P economy, for this post, will be the trade or other financial interaction between two ‘end users’ i.e. people or very small companies (and not B2B/B2C/B2B2C).
We can see the movement at every aspect of our life:
- Financial: Bitcoin, crowd-sourcing, and loans just to name a few.
- Hotels: Airbnb
- Eatwith and the like replace at least some of the restaurants
- Manufacturing is using more and more 3D printing
And there are many others
The implications makes iTunes (and the like) which revolutionized the entire music industry) looks like only a small step in the rapid evaluating new economy which who knows where will it take us as people, communities and even counties.
ITunes significantly shortened the value chain from the artists to the consumers.
It has also legalized the option to get some of the songs. If a person would have wanted to legally have a song, he was required to purchase the entire album.
When iTunes gave an easy and affordable option to buy a song a lot of people, who would be happy to pay the artists, used that option.
The implications of iTunes was not just overwhelming, it gave birth to some new ‘out of the box’ thinking about regulations, conglomerates and individual freedom.
However – there’s no one side story. It has also caused people to hear only one song, leaving behind complex work which can be understood only by listening to an entire album.
The implications and options increased over time as more and more disruptive markets innovative ideas took place.
There are already startups for academic literal handling (where an article is equivalent to a song, a publisher to the music company and an album to a magazine).
There’re a lot of issues with the P2P economy, which will require a lot of attention, starting with regulation, copy rights and others.
What I’d like to think about is where will it is leading us?
Here some additional points for thinking:
Almost anyone can have an Estonian e-residence. Will countries or cities become service providers?
3 dimensions printing is here to stay, letting people download a blueprint of the good they liked.
What will be the pillars of economics (materials, time and talent as a close friend suggested?)