Summary: We need to replace platforms that intermediate transactions with protocols built on a universal trust framework like Sovrin to avoid a future of hostage taking and retaliatory regulations. Platforms service two-sided markets. We're all familiar with platform companies like Uber, AirBnB, Monster, eBay, and many others. Visa, Mastercard, and other credit card systems are platforms. Platforms are a popular Web 2.0 business model because they create an attractive way for the provider to extract service fees from one side, and sometimes both sides, of the market. They can have big network effects and tend to natural monopolies.
Held Hostage
Held Hostage
Held Hostage
Summary: We need to replace platforms that intermediate transactions with protocols built on a universal trust framework like Sovrin to avoid a future of hostage taking and retaliatory regulations. Platforms service two-sided markets. We're all familiar with platform companies like Uber, AirBnB, Monster, eBay, and many others. Visa, Mastercard, and other credit card systems are platforms. Platforms are a popular Web 2.0 business model because they create an attractive way for the provider to extract service fees from one side, and sometimes both sides, of the market. They can have big network effects and tend to natural monopolies.