Digital revolution in business relations (part 4)

Transactional nature of goods and services.

As you learn how to manage transactions, you will learn how to manage the world…

Today, we are witnessing how things are transformed into digital functionality. Nowadays we are already buying not simply an aircraft engines, but guaranteed functionality with maintaining service of this functionality in a certain period which is included in price. Moreover, we don’t pay for engine as a whole thing at one time - we rent its functionality and constantly pay for engine while it works.

Needless to say that in this new world of leased functionality of goods transactions play a key role. Within the framework of transactions it will be possible to certify availability of goods’ functionality and pay money for this. An what if money will be tied to goods’ functionality, would mean this functionality? In this case we will have tokens of different functions: i.e. for food preparation, for laying stone, etc. And by transferring these tokens, you will pass the right to use these goods and in a more precise sense - to use their functionality, which would be implemented within the framework of smart contracts.

Imagine that networks of firms which produce functionality of goods or services will initially focus on money flows ensuring the right to use these goods. How would that transform the world of cash flows we know? It's hard to imagine but the outlined idea explains the vision behind our project and the functionality that our tokens bring.

Nomination of business transactions in “Rocket ICO” - tokens

In what way can a dollar be good for a currency user? Maximum production’s quantity is nominated in it. How many kinds of bananas can you buy for Belarusian rubles? 5 - 10. And how many kinds of bananas can you buy for American dollars? - A big amount. That is why, when buying dollars I get access to all this variety of bananas.

Now let's talk about business relations. If you get access to smart contracts that support a huge pool of various types of transactions, networks, combinations, then transaction systems fundamentally improves your efficiency. And not only in terms of relations with partners, but also with customers who buy functionality of goods. If you follow the thought, you’d feel that such a system of transactions is doomed to success.

It is this functionality i.e. transactions pool that will be nominated in tokens on “Rocket ICO” platform.

A journey of thousand miles begins with a single step

In the article, we have described what we want to build. Transaction’s networks and generally coherent joint actions is not something new to an offline business. Vertically integrated holdings, groups of companies, financial-industrial groups, cooperatives and various interaction and organization forms of business work in such a manner.

Smart contracts, idea of temporary functionality of goods, services and production units (described in cost-functional analysis) are not new themselves. However, in our opinion there is a fundamentally new idea, namely to create business environment where all transactions and resources will be digitalised in order to further optimise their systematic relations.

Nevertheless, this novel approach will certainly face many challenges. At the beginning you never know what problems you will face but we are already taking all necessary steps to bring our ideas to fruition:

  1. We are able to "transform" firms into a pool of real functional business units (assets) and relations that are implemented in transaction’s complex. We have a methodology for recombining existing firms' assets into new business models.

  2. We are able to figure out optimal production relations between assets.

  3. Our smart contracts are developed in such way that on their basis we could move to contract's chains, take into account terms of contracts, including all participants that really effect transaction’s success and consequences.

  4. We’re forming model of our smart contracts in the way that data could be fixed and stored. This will allow us to use them in the future not only for evaluating results of counterparts’ interaction, but also for further analysis of counterparts’ optimal interaction formats in new production networks.

  5. At first stages of platform’s development we are focused on creation of professional decentralized community base which in the future will decide how to use tools that we've developed, establish their limits and their purpose.

  6. We have a concept of how to form value’s creation networks out of already existing firms, both on the level of centralized management as well as in case of self-organized business community.

  7. We clearly understand what level of functionality tokens must have (transactions between platform’s participants).

  8. We understand that very often individualism, plans' concealment from own counterparts perspective becomes basis for many entrepreneurs. But on the example of crypto community we’ve learned that when a majority of community adheres to principles of openness and mutual benefit, then negative consequences of deception can be avoided.

There are many more advantages our project has, however I have touched upon the few that will form methodological and technological basis for implementation of our plan.

I hope you enjoyed the reading and invite you to join the community!


Digital revolution in business relations (part 3)

Digital revolution in business relations (part 2)

Digital revolution in business relations  (part 1)


Article by Andrey Miroshnichenko, Translated by Elena Krasovskaya.