Peer is a body of blockchain experts aiming to contribute to the growth of the blockchain industry and blockchain ecosystem. Talented individuals have come together to collectively accelerate the future of the industry based on their years of experiences.
Peer encompasses thoughts and experiences accumulated over a period of time. It is a body of top experts from various fields who learn and grow rapidly, and we gather more people to become our Peer.
[Peer and Transaction Cost]
Peer was conceived through deep reflections and contemplations of business and organizational management, game theory, and distributed economy. We have constantly researched to pull individuals and organizations with the same vision and mission into a cooperative body to communicate and cooperate while maximizing efficiency and synergy. Foundation of a business is to connect under a united mission and converge through consensus to create outcomes and rewards, and this concept has been researched and advanced at work places throughout history. This closely interrelates with the process of blockchain technology; for blockchain is an engine designed to react sensitively to incentives and rewards.
Companies and organizations try to lower transaction costs while increasing efficiency and bargaining power within the market through economies of scale. However according to “The Nature of the Firm” by Ronald Coase, organizations can become too large and reach a limit where marginal costs of organizing more transactions within the firm begins to increase and decreases the return, preventing the firm from growing indefinitely. Such perceptions are usually based on current concept of businesses and organizations. Blockchain networks on the other hand, comprises of organizations and individuals who freely join and contribute to the system for the good of the ecosystem or for each individual’s incentives. Individual associations to groups have less significance in the ecosystem and what each contribute becomes the primary focus because they all are simply nodes within the network.
[Peer and Scalability]
Nodes on a blockchain network act as individual and unique entities and yet are intricately connected to one another, continuously expanding the network as they constantly cooperate and compete with one another. Peer is an attempt to apply the systematic configuration of blockchain and its operations in the form of an organization. Although it is not practical to try to directly implement every aspect of the blockchain into an organization, this is also an opportunity for our generation to adapt to changes to evaluate and exceed the limitations of current perception of a corporation. Each component of Peer efficiently communicates and lowers transaction costs through consensus and mutual understandings while accelerating performance through cooperation. Regardless of the work styles or even geographical limitations, cooperation and communication remain strong. Every component of peer shares a common goal and a unified mission, and they cooperate to achieve it as a group.
Two separate entities with business and revenue models who are unable to create any value individually can often come together and turn into an amazing business opportunity. One entity with sufficient execution capacity with no revenue model could become a great opportunity to create value for another entity. Peer’s collaboration structure incorporates diversity while increasing flexibility, in return establishing scalability through business opportunities and executions.
[Distributed Collaboration and Trust]
When we mention the word “Distributed”, people tend to emphasize individualism over teamwork or relate it to the general concept of contribution within a system. However, though it may seem counterintuitive, distributed collaboration is fundamentally built on the premise of strong mutual trusts; trust in the authenticity and validity of the other party and in the system, trust in the goal and cooperative methods of the technology, and trust in the incentives and reinforcements. Furthermore, the importance of trust between parties is indisputable when it comes to collaboration. Trust between parties is fundamental to overcome economic inefficiency that comes from the prisoner’s dilemma, and reduce communication and transaction costs beyond the extent of blockchain technology alone. At the same time, collaborations are achieved through trust and when the results are satisfactory, collaborative works will be repeated. Continued collaborative works allow long term and valuable mission & vision to be formed, and thus creates perceptions beyond short term results, for long-term achievements. Trust is a fundamental component of collaborations. Distributed collaboration and distributed economy doesn’t understate the need for trust but instead emphasizes it.
The concept of corporations is shifting and optimizing constantly throughout history. The world is becoming more globalized each day and transaction & communication costs have never been lower. Although blockchain technology could be seen as somewhat far fetched at the moment, it has proven itself suffice in new meaningful collaboration procedures and is being noticed across industries for its potentials.
The way to achieve this may be through hard work, improvement, and sincere and ardent implementation. The existing way of organizations and cooperation are constantly evolving and improving.