To understand the digital platform economy better, The Internet Village Business Model breaks down the various types of platforms, how data changes from code numbers to raw material and then to monetized good in the digital value chain and how the discussion on digital trade should not be limited to whether or not tariffs are to be imposed on electronic goods and services but rather, more importantly, should include the complex and vast discussion that needs to be had about data – from privacy to ownership to its free or paid flows, and the potential for the misuse of data for monetary gain.
Welcome to the fourth Industrial Internet Revolution...
“Going back to the digital platform economy, as the UNCTAD defines it, “Digital platforms are technology- enabled operations that facilitate interaction and exchange between various groups, built on a shared and interoperable infrastructure and driven by DATA..”
They operate over a range of activities. Transaction platforms enable interaction between individuals who would otherwise not find each other; innovation platforms provide technological building blocks enabling innovators to develop complementary services or products.
DATA Science
First and foremost, digital platforms would not be where they are now without the innovation in information, communication and technologies; and massive infrastructure that support these advancements such as cables, faster processing hardware, smart mobile phones capable of doing most functions of computers and tablets; human imagination and skills, particularly in the science, technology, engineering and mathematics (STEM) fields. The race to innovate was supported by investments but probably equally so by the demand and competition. Suddenly, the “computer and tech nerds” were leading the race. “Big Tech” became bigger than regular traditional companies.
This basically means that even though the ICT companies were booming, this was a specialized field where employment that was at first far and few, were attracting young STEM innovators who brought with them fresh and new innovative ways to even further the ICT field.
One very good example of the beginnings of innovation from hardware to software to digital platforms is when Apple introduced the first iPhone more than a decade ago, the playing field was all of a sudden no longer even. Smart mobile phones could no longer just be able to make phone calls and emails, it had to be able to do all if not more of what the iPhone could do. Photographs, videos, music, and all of that in a high quality display that rivaled some computers. Next time... See you in the Digital Code Book... Coming Soon
let me keep clicking then