Robin Holdings
August 16th, 2022
The internet catapulted the relevance of data. The generation, collection and analysis of data impact the performance of global industries and economies. Social interactions, people’s behavior and hyper connectivity alter the way humans are living their day-to-day lives.
Information, generated from data -Big Data-, and the collaborative economy have brought great benefits to world economies by reducing transaction costs, expanding distribution areas, and efficient use of energy and resources.
Collaborative economies are short-term peer-to-peer transactions where they share the use of assets and services that facilitate their work and collaboration. The collaborative economy uses information and communication technologies, mainly platforms – apps – where buyers and sellers are connected. For example, peer-to-peer lending, crowdfunding, apartment or office space rental, resale and trading, talent and knowledge sharing.
The benefits of this economy are not only in the realm of cost reduction, but also in the economic benefits of maximizing the added value of the social agents of an increasingly connected community; however, information security and regulatory safeguards have become critical components of the business models supported by the collaborative economy. Despite this, blockchain technology is an ideal component to address these shortcomings.
Blockchain technology is an information technology term and is, in essence and in simplistic review, the ability to share stored data – which is unforgeable, traceable and accessible – among a network of users. Based on these characteristics, this technology establishes a solid foundation of trust and reliable cooperation between people or companies, with broad prospects for application and growth in the coming years. Consequently, to ensure the progress of the collaborative economy, it is necessary to effectively combine blockchain technology, Big-Data processing and analysis, and sharing economies – those that foster networking between people and/or companies. In such a way that, through innovation, networking and data, it will improve the capabilities of companies and contribute to the healthy development of the world’s economies.
