IIC Journal of Innovation 21st Edition January 2023 | Page 6

CONTENTS 1 Introduction ...................................................................................................................... 3
2 Machine economy ............................................................................................................ 3
2.1
What is the machine economy ? ........................................................................................... 4
2.2
Key enablers of the machine economy ................................................................................. 4
2.2.1
The internet of things ( IoT )................................................................................................. 4
2.2.2
Distributed ledger technology ( DLT )................................................................................... 5
2.2.3
Token economics ................................................................................................................ 5
2.3
Key success factors of the machine economy ........................................................................ 5
2.3.1
Technology perspective ...................................................................................................... 5
2.3.2
Business perspective ........................................................................................................... 6
3 Machine economy-oriented business models .................................................................... 7
3.1
Machine-as-a-service ( MaaS ) ............................................................................................... 7
3.2
Sensing-as-a-service ( S 2 aaS ) ................................................................................................. 7
3.3
Asset tokenization ............................................................................................................... 8
3.4
Pay-per-use ......................................................................................................................... 8
3.5
Trusted Data and Data oracle ............................................................................................... 9
4 Use cases and opportunities – the machine economy in action .......................................... 9
4.1
X-to-earn ............................................................................................................................. 9
4.2
Fractional ownership ........................................................................................................... 9
4.3
Trusted and transparent asset tracking in Supply Chains ..................................................... 10
4.4
Industrial Metaverse ......................................................................................................... 10
5 Conclusions ..................................................................................................................... 10 6 References ...................................................................................................................... 11 7 Acknowledgements ......................................................................................................... 12
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