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  • Writer's pictureMarina Planas

Pipelines to platforms to protocols: Reconfiguring value and redesigning markets

by Sangeet Choudary

"What if the real shift was much larger than just a shift from Web1 to Web2 to Web3

A wonderful article to understand the transition from traditional business to the future ( that is currently the present)

What’s next as per Sangeet

"While it’s now undisputed that there was a significant shift from pipelines to platforms, I believe we are now in the early innings of a similar shift from platforms to protocols. Much like the arrival of platforms didn’t signal the end of pipelines, the emergence of protocols will not end the era of platforms. Instead, pipelines, platforms, and protocols, will co-exist as different mechanisms to organize and configure value in the economy. Some parts of the economy will be best managed through platforms, while other use cases will lend themselves to decentralized protocol-based management.

In the last two years, we have seen a number of tipping points that will herald the arrival of protocols. Two factors, in particular, the need for interoperability and the attractiveness of new reward sharing mechanisms, will be key determiners of the speed of this shift. Decentralised finance and the rise of tokens now provide the financial machinery for new reward sharing mechanisms. Similarly, the need for greater interoperability in the design of virtual worlds is another factor that could spur the adoption of protocols.

Finally, for all the talk about decentralization, this shift is less about equity and more about value.

We will undoubtedly see the major platforms, with their advantage of scale, leverage this new set of technologies in a way that best reinforces their current economics. Facebook (now Meta), after experimenting with Libra, is now investing heavily in protocols more broadly. It would be naive to assume that protocols themselves will also not attract new modes of value capture and control.

We’re still in the early innings of a massive shift. One thing remains certain — the new value will be created, configured, and captured differently from the old."


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