The physical world is being animated – it’s coming alive as physical objects are imbued with the ability to not just sense, process, and communicate information but to think, learn and transact. But if these billions of things are to participate fully in the economy, our institutions and our daily life they need a commercial platform. The Internet of Everything needs a Ledger of Everything enabling it to do business, transact and generate economic value.
Don Tapscott, arguably the world’s leading thinker about the digital age over three decades argues that current Internet is evolving from a platform for information into a platform for value – based on the biggest innovation in computing science in a generation – blockchain. This Internet of Value enables us to animate the physical world and adopt powerful new business models. All this will change the nature of the firm and the way governments operate. It also has profound implications for IT strategy, architecture, and leadership as through it, every business can finally become a digital business.