📍In the previous post, I’ve laid out the benefits of interoperability and composability, mostly for individuals (or citizens in our case). Today, I'm gonna explore how companies and organisations could benefit as well, and how they might be incentivised in order to contribute as much as possible to the ecosystem.

❓The question is then: How might companies and organisations be incentivised to contribute to the ecosystem (beyond the obvious one of getting more customers)? What would be an example of this?

🎯 There are a few cases that I can think of, where companies would benefit from interoperability and composability.

🔗 The big one, at least in my view, is collaboration.
If you remember from the previous posts, companies in the ecosystem would be given so called “Factory NFTs”, which would enable them to mint credits (tokens, could be NFTs) which they would award to their customers. Customers could join (compose) the credits together, to achieve benefits of greater value, or exchange them in the marketplace.

1️⃣ The Factory NFTs could be utilised in this way as well. If companies were to collaborate with other companies in the ecosystem, or they were to contribute to a shared project through the use of Factory NFTs, they would receive certain benefits that they would not get without collaboration.

2️⃣ However, this could also benefit companies outside of the ecosystem. Let’s look at how this might work:
Say an IoT startup wants to create a new product that uses sustainable materials and manufacturing processes. Let’s assume that (for whatever reason) they are not yet eligible to be included in the ecosystem. Nonetheless, the startup could partner with companies that are in the ecosystem - owners of Factory NFTs.

Imagine two companies, one provides sustainable materials, and the other sustainable manufacturing processes. By using these companies’ “Factory NFTs” together (effectively composing them), a set of credits could be minted and issued to the startup. They could use those credits as a means of offsetting their own carbon footprint, maybe get tax benefits ... They could also choose to issue those credits to their own customers.

The startup could also use the collaboration as a certificate of sustainability - to demonstrate consumers that its product is sustainably made, and to be granted access to the ecosystem.

🏆 It’s a win win win situation, but for it to work, it would require a lot! Most importantly, thoughtful design of the ecosystem, probably much more complex than explained here. 😅

However, the underlying thread here are incentives. Alignment of incentives for all actors in the system is one of the biggest benefits of web3, and one that will drive adoption.

Am I completely off? How you would improve the idea?

(Image: Created with DALL·E. Prompt: "Vast beautiful virtual world. Connections and compositions between many entities. Everyone is a winner. Digital art.")

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I’m Maša Černovšek, and I write about web3, UX and solving real-world problems. *Connect with me on LinkedIn! *