The world is on the verge of the fourth industrial revolution. The adjustments we are facing are historical regarding size and are having a profound effect on production, logistics, and consumption systems. There is uncertainty surrounding these changes, in a sense that we just don’t know how these changes, driven by the revolution, will affect our current behaviors and industries, or how these industries will be reshaped in the future. Changes are monumental due to their velocity—the speed with which they are implemented—as a result of a deeply interconnected world that can support more and more technological adaptations. They build on existing networks and transform industries, sectors, and society as a whole. We are creating radically new ways and approaches via which individuals and organizations or businesses can cooperate, engage, and collaborate. One of the most significant discoveries of the past decade is that of the proof of work (POW) system protocol and its practical application in the creation of the blockchain, which creates distributed trustless consensus and solves the double-spend problem. In the future, it will serve as a registrar for various things, such as licenses, proofs of ownership, certificates, education degrees—virtually anything that can be expressed in programming code.
Online platforms have reduced transaction and friction costs that occur when executing various services and transactions and will do so even more dramatically in the future. They will essentially pave the way for costly transactions or inquiries to be incremented in minuscule fragments, shared among all participants on the network. This will have a profound effect in terms of reducing marginal costs of producing goods, services, or information close to zero. With adaptations of such technologies and platforms, we are ever closer to the economic ideal of perfect information on a competitive market where there are close to zero frictions, and where all participants can participate equally, fairly, and with complete trust. Procurean will support building the future global B2B (business to business) market centered on these core values.