[projectvrm] WikiMarket

["Crosbie Fitch" < >]

Perhaps it might be helpful to do a bit of VRM imagineering?

Perhaps to help others understand about VRM, one could describe a VRM-like
product?

Here's one of the obvious ones. Let's call it WikiMarket.

WikiMarket (or just WM) is a bit like WikiPedia combined with eBay and
Amazon. Every single product in the universe, that is, has been, or may be
available in the marketplace, is described in terms of a specification (a
set of criteria).

For any given specification (or less specific subset thereof) there will be
a few to umpteen products (already existing in the marketplace) that match
it.

NB Vendor and product naming/quality/pricing/delivery is separate from a
product specification.

Like eBay (combined with BetFair perhaps), vendors & customers can bid on a
product specification, either to sell, or to buy (quantity specified as a
number, or criteria such as 5-10). Similarly, the buys & sells for each
specification are displayed continuously. They may not immediately satisfy
each other if there are also criteria as to the ratings of buyers/sellers.

The VRM aspects come into play when you realise that this WM isn't just a
community managed marketplace for existing products, but also one for the
buying and selling of products that don't exist yet. Both vendors and
customers can place offers for specifications of non-existing products, e.g.
there may be vendors interested in the market for wild boar tusk & bristle
electric toothbrushes, or there may be customers for such - either can
create the specification and see if the market responds (in terms of supply
or demand). Moreover, both vendors and customers can (in conjuction with
reputation/rating criteria) make commitments to sell/buy the non-existent
product they've specified.

It can work for anything: perishables, aeroplane journeys, cures for
diseases, movie production, legislative lobbying, perpetual motion machines,
anything.

What's more, there's nothing to stop speculation either. Speculators can
make offers to buy/sell certain specs at one price on the expectation they
can be sold/bought in another (or even the same) market at another price (&
time).

Feel free to flesh out this idea. I'm the last to sue for copyright
infringement on this text, trademark infringement on this name of
'WikiMarket', or patent infringement on this business method.