Value creation, value flows and liability over virtual resources at FIA Poznan

posted 6 Jul 2011 01:40 by Michael Boniface
The FISE working group session on value creation, value flows and liability over virtual resources has been selected by the FIA steering committee for inclusion at FIA Poznan. The session will be combined with topic proposals related to FI business models from Makis Stamatelatos (University of Athens, UNIVERSELF), Artur Nowakowski (Verax Systems), Man-Sze Li (IC Fokus, Co-Chair of FInES Cluster) and Dieter Uckelmann (University of Bremen). The draft motivation for the session is given below. The session scope, agenda and structure is being developed by the community on the FISE wiki and through discussions. Please visit the wiki for the latest information or contact the community through the LinkedIn group or an email to getinvolved@seserv.org.

The creation, distribution, and consumption of virtual resources is a foundation element of Future Internet and the digital economy. Disruptive innovations in virtualised infrastructures has reduced TCO, enabled faster time-to-market for new application and services, and improved business continuity/disaster recovery. Virtualisation is rapidly moving from its roots in computing to encompass all Internet-connected hardware from the network to the Internet of Things. In addition, disruptive innovations in content distribution and business models has moved virtual goods into a major revenue stream for the media and entertainment industry. Consumers are spending real money on intangible virtual goods with the estimated total European market for virtual goods alone in 2010 was estimated at $1.02 Billion which is comparible to the US.

The Future Internet ecosystem is therefore increasingly organised into systems interacting and exchanging virtual resources between infrastructure, application and services that are aggregated into complex integrated communities. This ecosystem is providing the potential and opportunity for new business roles and patterns of value exchange between virtual trading communities, virtual knowledge communities and emerging intermediaries. However, accountability and liability in value networks of virtualised resources remains a challenge due to the opaqueness of contractual relationships and indeterminate distribution of responsibilities between stakeholders.

In this session we will explore value creation, value flows and liability over virtual resources in the FI ecosystem. Key questions that could be relevant include:

  • What are the value structures? What are the activities that contribute to value creation?
  • How does money and knowledge flow between stakeholders? What monetization strategies are working?
  • What technical abstractions have the potential to maximise value creation from physical assets (e.g. Grid vs Cloud)?
  • How should responsibility be distributed between stakeholders?
  • What is the balance between regulation, self-regulation and market forces?

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