What do you dream of doing to make the world a better place, but have struggled to bring to reality due to technological constraints?
- Are you looking to democratize a centralized, vertical line of business so that more of the global population can participate and benefit – perhaps by opening markets for direct access and improving liquidity?
- Maybe you want to improve the opportunity for businesses to do something for the greater good, such as enabling or participating in sustainability ecosystems – perhaps through globally accepted accounting standards and proven, trusted markets?
- Is it about improving critical existing processes by making them more efficient and transparent – perhaps by digitizing and eliminating the few remaining paper-based bearer instruments, such as bills of lading required to transport goods?
- Or are you simply trying to instill consumer confidence and trust in your new market ideas by following standards that ensure all offerings in your market – regardless of underlying technology – interwork with offerings from other vendors and other markets?
What all of these examples – and many more – have in common is the need to radically improve the experience whenever two or more parties exchange things of value with each other. Millennia-old practices for managing interchange – linear, centralized, transactional processes where each party is responsible for managing trust and maintaining records – are limiting. And the computing systems that emerged over the past 50 years to support these centralized, transactional practices have in many ways now become the masters of the process, forcing limitations and restrictions that cannot satisfy today’s needs. How would your world change if you had at your disposal a means to guarantee trust among all parties without the limitations of today’s transactional systems?
- A mechanism by which all parties can nearly immediately agree on the scope of an interchange?
- A way to ensure transparency in how that interchange was started and agreed-to, and is carried out without chance of being overturned without authority?
The technology to ‘make this so’ exists, enabling you to envision multi-party interchange of value as a set of decentralized digital contracts that manage assets represented by cryptographically trusted digital tokens. Unfortunately, historical fragmentation in the technology platforms on which these tokens live has also fragmented the tokens themselves. With no standard language for defining tokens, interworking across platforms or projects is severely restricted and it’s nearly impossible for unified markets to emerge. The technology stewardship that brought tokens to life needs to be matched with market stewardship in order to give you the power to realize your dreams.
The InterWork Alliance is that market steward – an industry organization of leaders, adopters, innovators, developers, and businesses dedicated to empowering all organizations to adopt and use token-powered services in their day-to-day operations, across use cases and networks, bringing inclusivity to globally distributed applications. The IWA uses real-world projects and market requirements to defragment markets and drive business-level interworking, multi-party interchange, and trust across applications and networks.