Insights
Tokenizing Towards Sustainability - Abstract
Throughout history, humans have worked together to create habitats that support collective life. They have managed resources, defended borders, defined norms, created systems to govern life, and developed civilizations that are capable of lasting for centuries or even millenia. Throughout, technology has played a significant role in allowing towns, villages, cities, and countries to manage resources and support a constantly growing population.
Business Strategy in the Era of the Internet of Value
Whether a business is centuries old or just releasing their first product, the current environment presents a range of challenges. Consumers are increasingly skeptical of the sincerity of legacy brands as well as some of the leading digital service providers. Some might even go so far as to say that an erosion of trust has occurred. At the same time, businesses continue to be enamored by the capacity of digital environments, objects, experiences, and marketplaces to captivate these disaffected – and particularly younger – consumers in order to generate strong returns on investment, while also potentially supporting enhanced sustainability.
Abstract - Tokenization, Blockchain, and Industry 4.0 (TBI) as Medium for Art
Tokenization, blockchain, and Industry 4.0 (TBI) can support complex artworks that are not easily confined to a single medium, that are durational, that are defined through relationships, and that engage the receiver of the artwork as a critical component that, in some cases, may even contribute to the form that the artwork takes on. TBI, in this sense, is the medium from which the meta / physical art object is made.
Industry 4.0 & Luxury Brands
Luxury brands are facing pressure to reach a younger customer base that spends more time online, produce goods in a sustainable manner and combat forgery. Industry 4.0 powered by blockchain technology can support these goals. While this process will begin at the level of production, it will ultimately unlock a new type of consumer environment, way of engaging and marketing to consumers, and ways of remembering and valuing a wide range of objects.
Interoperability & Blockchain
Interoperability is the ability of different systems, devices, applications or products to connect and communicate in a coordinated way, without effort from the end user. Over the last several decades, considerable effort has been placed by software developers, those responsible for managing supply chains and manufacturing, and throughout the business community more broadly to enhance interoperability and reduce the often difficult process of communicating between systems. Blockchain technology has recently been put forward as a tool that can help accelerate these efforts while also enhancing the overall security and transparency of the system. Some initial projects have been developed towards this end, but broad adoption has yet to occur. This is due in large part both to being very early on in the development of the technology and to some broader challenges and concerns that will be discussed in what follows.
Summary of Market and Adoption of Tokenization & Blockchain
The tech sector is growing twice as fast as the global economy and will constitute about 8% of global GDP within 15 years, currently up from 4.5% today and 2% in 1992 (New Directions for Government in the Second Era of the Digital Age). Many organizations who have traditionally operated outside of the tech sector have an opportunity to participate in some of this growth.
Tokenization in the Art World
New technology has affected how art is produced and reproduced since the earliest days of civilization. It has affected how it moves, is accounted for, how it is exchanged, stored, collected, and who collects it. In some cases, this technology affects the structures that support art while in others it affects the content and craft of the artwork itself. In either case, the relationship between art and technology is a dynamic exchange. When that technology has a profound impact on broader society, reflecting this technology in the artwork allows the artwork to form a greater bond and relevance within this societal context.
The Power of Digital / Physical Objects - Pt II
This text is the second installment of the essay “The Power of Digital / Physical Objects.” This section explores the hybrid object and mandate for action through how this objects can be a tool for change and inform temporality dictating behavior, ownership, treatment, and future accomplishments. It goes on to look at contractual relationships, the role of mission-driven organizations, and physical artifacts in driving transformation. Finally, it reflection on how digital objects can be a tool for change that alters socio-economic relations, relationships based on identity, and the overall health of a community.
The Power of Digital / Physical Objects - Pt I
Digital objects are only of value if they are able to affect our habits and habitat. On one hand, this could take the form of a game that one plays that causes one to configure a room in a particular manner. It could take the form of engagement with a social media platform that causes one to dress in a particular manner, attend specific events, and socialize with a select set of friends. On the other hand, such digital objects could lead to more profound affects on the physical world. They could take the form of a ransomware attack that shuts down a pipeline, a social media campaign that results in electing a person to serve in government, or the use of a natural resource such as water, wind, or solar power to maintain digital infrastructure. In what follows, the definition of physical and digital object will be explored, the objects that currently dominate our world will be briefly highlighted, and how new hybrid physical-digital objects with an enhanced capacity to affect change in the world might be created.
Learn how we can help you
We would love to learn about your work and to explore ways of we might be of assistance.