As “crowd-based capitalism” or the “sharing economy” expands, we're taking economic activity out of institutions.
In the established old model, most economic activities were controlled by large companies and institutions like banks.
Now we have a digitally controlled model, a platform that sits between people directly. New technologies based on the blockchain and distributed network make people trust each other enough for these interactions.
The sharing economy is all about people and trust. People are once again being drawn closer together on a global scale.
This is the melding between commerce and community. You could say it is a democratization of opportunities. This will lead to more independent workers and entrepreneurs as the doorkeepers like banks and other institutions are bypassed with favor given to peer-to-peer markets.
In the established old model, most economic activities were controlled by large companies and institutions like banks.
Now we have a digitally controlled model, a platform that sits between people directly. New technologies based on the blockchain and distributed network make people trust each other enough for these interactions.
The sharing economy is all about people and trust. People are once again being drawn closer together on a global scale.
This is the melding between commerce and community. You could say it is a democratization of opportunities. This will lead to more independent workers and entrepreneurs as the doorkeepers like banks and other institutions are bypassed with favor given to peer-to-peer markets.
In the old model, the large companies have a lot of resources. It usually created high entry barriers to their industries.
Hopefully, the new democratization model allows this situation to be changed.