I have been contempating on what comes next in 2019? Distributed economies is seemingly possible. Distributed economies (DE) is currently best described as a vision by which different innovative development strategies where similar or complementary strategies can be brought together into networks to provide the advantage of scale without the drawbacks of inflexibility. Alongside DE, here is my take on the next 4 big trends to watch out as we march ahead into 2019.

1) Automation crossing over inflection point: Point I am making is progressing beyond task automation. For example, when we call a Bank, it really doesn’t matter whether a bot or a human reply from creating the net new value and better customer experience point of view. In fact, speaking to human can avoid following initial mundane activities alongside a BOT. Having a BOT may save cost and make operations efficient for a Bank, but what’s in it for the customer? Secondly, Automation has to elevate to be more intelligent and process-centric than taskmasters. That is what the inflection point for automation progressing to “creating value for consumers”.

2) Shared to Distributed economies/business models as a path forward: Over the past years Uber, Airbnb, Google and increasingly proliferated shared economy models are been successful use cases that rely on the contributions of users/external resources as a means to generate value within their own platforms. Unlike the Automation, here consumers get direct value from the shared economy models and better experience. But the shared economy model is still centralized and hence prevails risks limiting full potential. The shift is going to be towards a new model of decentralized organizations that are aggregating the resources of multiple people to provide a service to a very active group of consumers. This shift marks the advent of a new generation of “dematerialized” organizations that do not require physical offices, assets, or even employees.

3) The confluence of Digital technologies fuelling the next-level adaption/growth: We make a progress beyond adapting one or two digital forces towards the convergence of the ecosystem of digital technologies that drives the collective benefit of businesses, consumers and all stakeholders.

4) Blockchain Technologies: Due to the lower cost and distributed structure, blockchain is more sustainable for governments, banks, organizations and small business owners to use over the long term. Micro, small and medium enterprises (MSMEs) are the largest employers in many developing countries, yet their viability suffers from limited access to savings, insurance, credit equity and payments services. We may see the following uses of blockchain to further MSME growth:

• New financing business models will emerge based on trust networks. If we begin to transact based on the verification of assets and people on the blockchain, businesses can obtain financing with terms that meet their needs, rather than based on the supplier’s terms, and from new sources as well.
• Use of smart contracts will give micro and small businesses quicker and more efficient access to finance and raw materials. Smart contracts are tiny computer programs that can live on the blockchain. These programs get stored, verified and executed by the same blockchain network. This allows for more advanced functions to take place on the blockchain, such as verifying that an individual meets certain criteria or that multiple parties have complied with an agreement or contract.
• Recording, tracking and verifying trades of virtually any asset will be more secure and less costly, thus it will open new forms of financing for MSMEs that were not possible before.
• Movable property registries can live on the blockchain, against which finance can be accessed. Many countries lack comprehensive collateral registries, and collateral is often used to secure working capital and term loans. If the blockchain were to have a registry of things like accounts receivable, inventory, machinery, equipment and/or real estate, it could be utilized by MSMEs for financing growth.

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