Platforms

Question 1

Digital Platforms

Answer 1

The sharing economy also thrives on Digital platforms. Digital platforms further contribute to blurring the boundary between the digital and physical worlds.

Question 2

What it is with examples

Answer 2

A platform is the type of computer system or the software that is used.
Examples of digital platforms include:
Social media platforms such as Facebook, Twitter, Instagram, Weibo, Linkedin, etc.
Gaming platforms such as Steam, Xbox 360, etc.
Search platforms such as Google, Bing, etc.

Question 3

The emergence of digital platforms has contributed to the advent of digital marketplaces.

Answer 3

Marketplaces enable different parties to trade goods, products and services in exchange for payments creating value economically.

Trading on these platforms decreases the cost of transactions while increases the reach to customers at a global scale.

Question 4

Two-sided markets are platform marketplaces which enable interactions and transactions among its users.

Answer 4

Having facilitated the connection between users, it charges both sides of this connection.
For example Spotify
Charges listeners (subscriptions or ads) and musicians (streaming fees).

Question 5

The concept of network effects on platforms means that the benefits a user gains from a platform increase as more people join and use it.

Answer 5

For example, on Spotify, listeners benefit from more artists offering variety, while musicians gain income as more listeners stream their songs.

Question 6

There are three types of digital platforms:

Answer 6

transaction platform/ facilitate exchanges of goods, services, or information between users. For example, eBay connects buyers and sellers, enabling transactions through auctions or fixed-price listings while earning fees from sellers.

Question 7

Innovation Platforms

Answer 7

Innovation platforms offer tools for users to create new products and services, driving network effects through quality and usage. For example, Android OS lets developers build apps using its shared infrastructure, fostering innovation and growth.

Question 8

Hybrid Platforms

Answer 8

Combine features of transaction and innovation platforms, supporting trade and the creation of new offerings.
Amazon serves as a transaction platform by enabling buyers and sellers to trade goods and as an innovation platform through its AWS services, which provide tools for creating new applications and technologies.