<div dir="ltr">I hope this can impress some people that are still on the sidelines of this major earthquake, to understand the significance of what is occuring right now, a fundamental re-ordering of the capitalist economy under new models:<div><br></div><div><div>first of all, see this article, that shows successfull blockchain trials for supply chains, <a href="https://which-50.com/commbank-and-logistics-giants-complete-blockchain-trade-from-regional-victoria-to-germany/">https://which-50.com/commbank-and-logistics-giants-complete-blockchain-trade-from-regional-victoria-to-germany/</a>?</div><div><br></div><div>and what it all means in terms of industrial structures see the article quoted below,</div><div><br></div><div>but in fact, I don't think their analysis goes far enough, because in the ethereum networks, corporates are already subsumed to a eco-system consisting not just of companies, but of a multitude of other players, including lots of single individuals:</div><div><br></div><div>QUOTE</div><div><br></div><div><h1 id="gmail-firstHeading" class="gmail-firstHeading" lang="en" style="color:black;background:none;font-weight:normal;margin:0px 0px 0.25em;overflow:visible;padding:0px;border-bottom:1px solid rgb(170,170,170);font-size:1.8em;line-height:1.3;font-family:"Linux Libertine",Georgia,Times,serif">Blockchain-Based Corporate V-Networks</h1><div id="gmail-bodyContent" class="gmail-mw-body-content" style="line-height:1.6;font-size:0.875em;color:rgb(37,37,37);font-family:sans-serif"><div id="gmail-contentSub" style="font-size:11.76px;line-height:1.2em;margin:0px 0px 1.4em 1em;color:rgb(84,84,84);width:auto"></div><div id="gmail-jump-to-nav" class="gmail-mw-jump" style="overflow:hidden;height:0px;zoom:1;margin-bottom:1.4em"><a href="https://wiki.p2pfoundation.net/Blockchain-Based_Corporate_V-Networks#mw-head" style="color:rgb(11,0,128);text-decoration-line:none;background:none"></a><a href="https://wiki.p2pfoundation.net/Blockchain-Based_Corporate_V-Networks#p-search" style="color:rgb(11,0,128);text-decoration-line:none;background:none"></a></div><div id="gmail-mw-content-text" lang="en" dir="ltr" class="gmail-mw-content-ltr" style="direction:ltr"><p style="margin:0.5em 0px;line-height:inherit"><b>= "V-form networks consist of a number of fully independent companies that effectively operate as one vertically integrated company through blockchain technology".</b> <a class="external gmail-autonumber" href="https://medium.com/cryptoeconomics-australia/outsourcing-vertical-integration-introducing-the-v-form-network-78e1aa93a814" style="color:rgb(102,51,102);text-decoration-line:none;background-color:initial;padding-right:13px">[1]</a></p><p style="margin:0.5em 0px;line-height:inherit"><br></p><div id="gmail-toc" class="gmail-toc" style="border:1px solid rgb(170,170,170);background-color:rgb(249,249,249);padding:7px;font-size:13.3px;display:table;zoom:1"><div id="gmail-toctitle" style="direction:ltr;text-align:center"><h2 style="color:black;background:none;margin:1em 0px 0.25em;overflow:hidden;padding:0px;border:none;font-size:13.3px;display:inline;line-height:1.3">Contents</h2><span class="gmail-toctoggle" style="font-size:12.502px"> [<a href="https://wiki.p2pfoundation.net/Blockchain-Based_Corporate_V-Networks#" id="gmail-togglelink" style="color:rgb(11,0,128);text-decoration-line:none;background:none">hide</a>] </span></div><ul style="list-style-type:none;margin:0.3em 0px 0.5em;padding:0px"><li class="gmail-toclevel-1 gmail-tocsection-1" style="margin-bottom:0.1em"><a href="https://wiki.p2pfoundation.net/Blockchain-Based_Corporate_V-Networks#Contextual_Citation" style="color:rgb(11,0,128);text-decoration-line:none;background:none"><span class="gmail-tocnumber">1</span> <span class="gmail-toctext">Contextual Citation</span></a></li><li class="gmail-toclevel-1 gmail-tocsection-2" style="margin-bottom:0.1em"><a href="https://wiki.p2pfoundation.net/Blockchain-Based_Corporate_V-Networks#Description" style="color:rgb(11,0,128);text-decoration-line:none;background:none"><span class="gmail-tocnumber">2</span> <span class="gmail-toctext">Description</span></a></li><li class="gmail-toclevel-1 gmail-tocsection-3" style="margin-bottom:0.1em"><a href="https://wiki.p2pfoundation.net/Blockchain-Based_Corporate_V-Networks#Example" style="color:rgb(11,0,128);text-decoration-line:none;background:none"><span class="gmail-tocnumber">3</span> <span class="gmail-toctext">Example</span></a><ul style="list-style-type:none;margin:0px 0px 0px 2em;padding:0px"><li class="gmail-toclevel-2 gmail-tocsection-4" style="margin-bottom:0.1em"><a href="https://wiki.p2pfoundation.net/Blockchain-Based_Corporate_V-Networks#The_IBM_and_Maersk_TradeTech" style="color:rgb(11,0,128);text-decoration-line:none;background:none"><span class="gmail-tocnumber">3.1</span> <span class="gmail-toctext">The IBM and Maersk TradeTech</span></a></li></ul></li></ul></div><h1 style="color:black;background:none;font-weight:normal;margin:0px 0px 0.25em;overflow:hidden;padding:0px;border-bottom:1px solid rgb(170,170,170);font-size:1.8em;font-family:"Linux Libertine",Georgia,Times,serif;line-height:1.3"><span class="gmail-mw-headline" id="gmail-Contextual_Citation">Contextual Citation</span><span class="gmail-mw-editsection" style="font-size:small;margin-left:1em;vertical-align:baseline;line-height:1em;display:inline-block;font-family:sans-serif"><span class="gmail-mw-editsection-bracket">[</span><a href="https://wiki.p2pfoundation.net/index.php?title=Blockchain-Based_Corporate_V-Networks&action=edit&section=1" title="Edit section: Contextual Citation" style="color:rgb(11,0,128);text-decoration-line:none;background:none">edit</a><span class="gmail-mw-editsection-bracket">]</span></span></h1><p style="margin:0.5em 0px;line-height:inherit">"A blockchain economy will have more, smaller firms linked together by protocols. ... It’s worth pointing out that these networks are inherently global, and any regulatory questions global as well."</p><p style="margin:0.5em 0px;line-height:inherit">- Chris Berg, Sinclair Davidson and Jason Potts <a class="external gmail-autonumber" href="https://medium.com/cryptoeconomics-australia/outsourcing-vertical-integration-introducing-the-v-form-network-78e1aa93a814" style="color:rgb(102,51,102);text-decoration-line:none;background-color:initial;padding-right:13px">[2]</a></p><p style="margin:0.5em 0px;line-height:inherit"><br></p><h1 style="color:black;background:none;font-weight:normal;margin:0px 0px 0.25em;overflow:hidden;padding:0px;border-bottom:1px solid rgb(170,170,170);font-size:1.8em;font-family:"Linux Libertine",Georgia,Times,serif;line-height:1.3"><span class="gmail-mw-headline" id="gmail-Description">Description</span><span class="gmail-mw-editsection" style="font-size:small;margin-left:1em;vertical-align:baseline;line-height:1em;display:inline-block;font-family:sans-serif"><span class="gmail-mw-editsection-bracket">[</span><a href="https://wiki.p2pfoundation.net/index.php?title=Blockchain-Based_Corporate_V-Networks&action=edit&section=2" title="Edit section: Description" style="color:rgb(11,0,128);text-decoration-line:none;background:none">edit</a><span class="gmail-mw-editsection-bracket">]</span></span></h1><p style="margin:0.5em 0px;line-height:inherit">"The Nobel laureate Oliver Williamson distinguishes between U-form companies and M-form companies.</p><p style="margin:0.5em 0px;line-height:inherit">Traditional U-form companies are unitary — their units are divided by business process (for instance, accounting, human resources, component manufacturing, assembly) and are not treated as separate cost centres.</p><p style="margin:0.5em 0px;line-height:inherit">M-form companies are multidivisional — their units are self-contained divisions that report profits and losses to an umbrella central body. They’re fully owned by a parent company, but they tend to have their own business services (accounting and human resources departments, for instance) and even market relationships.</p><p style="margin:0.5em 0px;line-height:inherit">But now we see a new corporate form — the V-form network — made possible because thanks to the application of distributed ledger technology to supply chain problems.</p><p style="margin:0.5em 0px;line-height:inherit">These V-form networks consist of a number of fully independent companies that effectively operate as one vertically integrated company through blockchain technology, coordinated and supplied by a third party.</p><p style="margin:0.5em 0px;line-height:inherit">This is a big change to the nature of the firm. We can already see V-form networks in the real world. They date as far back as January. It is surprising the economics community haven’t noticed them yet.</p><p style="margin:0.5em 0px;line-height:inherit">...</p><p style="margin:0.5em 0px;line-height:inherit"><br>Blockchains can work to coordinate supply chains without the need for either (traditional) vertical integration or regulation. The vertical integration is outsourced to a distributed ledger. The blockchain provides the managerial service that coordinates each ‘unit’ (that is, firm) in the supply chain.</p><p style="margin:0.5em 0px;line-height:inherit">Regulators in any country can deal any firm in the supply chain as if it was a small unit of a larger, global company.</p><p style="margin:0.5em 0px;line-height:inherit">Each firm in the supply chain get the benefits of vertical integration through a network rather than a hierarchy.</p><p style="margin:0.5em 0px;line-height:inherit"><br>...</p><p style="margin:0.5em 0px;line-height:inherit"><br>In the V-form network, the blockchain’s token establishes the consortium, and incentivizes cooperative behaviour.</p><p style="margin:0.5em 0px;line-height:inherit">The token also serves to move rents around the network. In this way, the blockchain provides a market mechanism to solve the sort of bargaining problems described by another Nobel laureate, Ronald Coase, that may occur as the network operates.</p><p style="margin:0.5em 0px;line-height:inherit">Outsourced vertical integration could be applied to many industries that are now integrated. Energy firms that currently integrate the exploration, production, generation, and retail of electricity might be better decomposed, with blockchains and tokens taking the place of head offices. The token economy, rather than energy regulators, could make decisions about the distribution of rents around the network." (<a class="external gmail-free" href="https://medium.com/cryptoeconomics-australia/outsourcing-vertical-integration-introducing-the-v-form-network-78e1aa93a814" style="color:rgb(102,51,102);text-decoration-line:none;background-color:initial;padding-right:13px">https://medium.com/cryptoeconomics-australia/outsourcing-vertical-integration-introducing-the-v-form-network-78e1aa93a814</a>)</p><p style="margin:0.5em 0px;line-height:inherit"><br></p><h1 style="color:black;background:none;font-weight:normal;margin:0px 0px 0.25em;overflow:hidden;padding:0px;border-bottom:1px solid rgb(170,170,170);font-size:1.8em;font-family:"Linux Libertine",Georgia,Times,serif;line-height:1.3"><span class="gmail-mw-headline" id="gmail-Example">Example</span><span class="gmail-mw-editsection" style="font-size:small;margin-left:1em;vertical-align:baseline;line-height:1em;display:inline-block;font-family:sans-serif"><span class="gmail-mw-editsection-bracket">[</span><a href="https://wiki.p2pfoundation.net/index.php?title=Blockchain-Based_Corporate_V-Networks&action=edit&section=3" title="Edit section: Example" style="color:rgb(11,0,128);text-decoration-line:none;background:none">edit</a><span class="gmail-mw-editsection-bracket">]</span></span></h1><h2 style="color:black;background:none;font-weight:normal;margin:1em 0px 0.25em;overflow:hidden;padding:0px;border-bottom:1px solid rgb(170,170,170);font-family:"Linux Libertine",Georgia,Times,serif;line-height:1.3"><span class="gmail-mw-headline" id="gmail-The_IBM_and_Maersk_TradeTech">The IBM and Maersk TradeTech</span><span class="gmail-mw-editsection" style="font-size:small;margin-left:1em;vertical-align:baseline;line-height:1em;display:inline-block;font-family:sans-serif"><span class="gmail-mw-editsection-bracket">[</span><a href="https://wiki.p2pfoundation.net/index.php?title=Blockchain-Based_Corporate_V-Networks&action=edit&section=4" title="Edit section: The IBM and Maersk TradeTech" style="color:rgb(11,0,128);text-decoration-line:none;background:none">edit</a><span class="gmail-mw-editsection-bracket">]</span></span></h2><p style="margin:0.5em 0px;line-height:inherit">Chris Berg, Sinclair Davidson and Jason Potts:</p><p style="margin:0.5em 0px;line-height:inherit">"Two weeks into 2018, IBM and the shipping giant Maersk announced a joint venture to develop a digital supply chain management system on their Hyperledger blockchain platform. Hyperledger is a private blockchain which requires permission to access.</p><p style="margin:0.5em 0px;line-height:inherit">In a previous Cryptoeconomics piece, we described how international trade is an information problem. As goods are shipped around the world, they are accompanied by information — really stacks of paperwork — that describe their provenance, destinations, regulatory and tax liabilities and so on.</p><p style="margin:0.5em 0px;line-height:inherit">In the IBM-Maersk system, each firm and bureaucracy in the supply chain — producers, shippers, port authorities, regulators, importers, retailers — will access and update a shared blockchain ledger containing all the information needed by each organisation.</p><p style="margin:0.5em 0px;line-height:inherit">And each organisation would have access to that information everywhere, ensuring complete visibility on where goods are in the world and which economic and regulatory hurdles they next need to overcome." (<a class="external gmail-free" href="https://medium.com/cryptoeconomics-australia/outsourcing-vertical-integration-introducing-the-v-form-network-78e1aa93a814" style="color:rgb(102,51,102);text-decoration-line:none;background-color:initial;padding-right:13px">https://medium.com/cryptoeconomics-australia/outsourcing-vertical-integration-introducing-the-v-form-network-78e1aa93a814</a>)</p></div></div></div><div><br></div>-- <br><div dir="ltr" class="gmail_signature" data-smartmail="gmail_signature">P2P Foundation: <a href="http://p2pfoundation.net" target="_blank">http://p2pfoundation.net</a>  - <a href="http://blog.p2pfoundation.net" target="_blank">http://blog.p2pfoundation.net</a> <br><br>Connect: <a href="http://p2pfoundation.ning.com" target="_blank">http://p2pfoundation.ning.com</a>; Discuss: <a href="http://lists.ourproject.org/cgi-bin/mailman/listinfo/p2p-foundation" target="_blank">http://lists.ourproject.org/cgi-bin/mailman/listinfo/p2p-foundation</a><br><br>Updates: <a href="http://del.icio.us/mbauwens" target="_blank">http://del.icio.us/mbauwens</a>; <a href="http://friendfeed.com/mbauwens" target="_blank"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