The rise of collaborative or sharing economy is one of the examples of this trend. With Uber and AirBnB being its frequently quoted current successes, the proliferation is expected to intensify. The resulting rise in the opportunities for new business models and the transformation in the relationship between the stakeholders – from producers to consumers – will increase the need to inspect the elements and to manage the impact by the stakeholders, including governments.
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The emergence of Blockchain technology closely reﬂects this accelerating transformation into digital economy. First appearing as the technology underlying Bitcoin, a cryptocurrency, the development came to be known as Bitcoin 1.0, which involves the deployment of cryptocurrencies in applications related to cash. The second phase or Bitcoin 2.0 revolves around contracts, including the better known smart contracts applications, while Bitcoin 3.0 targets blockchain applications in other areas, including industrial applications in the ‘collaborative economy’.
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