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Disruption: Industry Operating Backbones (or Networks)
Ideally a network solution should both be industry agnostic, yet be tailored to the needs of a particular industry.
To get the most from the “network effect,” you want as many participants as possible onboard, from as many industries as possible.
For example, an electronics components supplier might be on a network supplying parts to an automotive manufacturer. That supplier might also supply an aerospace company and a medical devices manufacturer. They shouldn’t have to connect to other networks in order to do business with all three of their customers.
Logistics providers are in a particularly precarious position, having to serve customers from a wide range of industries. They too should be able to onboard to a single network to serve all their customers.
Functionally, the network needs to support solutions that are industry-specific, so that data models, transactions and workflows are purpose-built for a specific industry, such as retail, pharmaceuticals, food service, automotive, etc.
This is just scratching the surface. If you’d like to learn more, I recommend reading Industry Operating Backbones which covers the advantages of these purpose-built networks in more detail.
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