The document discusses the progression of commerce from centralized to decentralized models, and how technology like the internet, blockchain, and Ethereum can further push trade towards decentralization. Specifically, it notes how early commerce was localized but is now conducted globally online through platforms like eBay, Amazon, Uber and AirBnB, which started as centralized matchmakers but their roles are becoming decentralized with many players. Ethereum aims to facilitate this by enabling trust and transactions without centralized intermediaries.

1. Bazaar Services
Decentralising trade

2. Computing
Isolated (no network)
Mainframe
Server/client
Peer-to-peer

3. Software Development
Individual coders
Strict hierarchy “cathedral”
Open-source hackers “bazaar”
Clones and forks (Github-style)

4. (Rough) Progression of Governance
Anarchy
Monarchy/Empire/Fiefdoms
Plutocracy/Aristocracy
Bureaucracy/“Democracy”

5. Communication
Word-of-Mouth (close to zero)
Press/Radio/Television
Internet
Mobile Mesh?

6. Distance sales
Back-of-magazine (close to zero)
Amazon
One Matchmaker, One Merchant
eBay/Amazon Marketplace
One Matchmaker, Many Merchants
…
No Matchmakers, Many Merchants

7. General Theme
Nothing
...strong individual imposes order; progress to...
Centralisation
...order enables cooperation; progress towords...
Decentralisation
Efficient
Resilient
Scalable
...or natural order?

8. “Uberisation”
Trade will suffer the
same fate

9. eBay was a trailblazer
eBay: Decentralised marketplace
Amazon Marketplace: same
Uber: Decentralised taxi
TaskRabbit: Decentralised labour
AirBnB: Decentralised hostelry

10. Matchmaker or Merchant?
Merchants is decentralised
...but…
Matchmaking still centralised.

11. Why?
In a word,
Trust

12. Ethereum
Trust as a commodity
Provides a strong uncorruptible link between real-world and digital
Programmable value
“smart contracts”, guaranteed semantics, ...
Interoperability
ICAP/KYC/AML/decentralised reputation/…

13. Enables...
“Uber” without Uber, Inc
“eBay” without eBay, Inc
“AirBnB” without AirBnB, Inc

14. “Inclusive, globalised, village bazaar”
Bazaar Services

15. Bazaar Services
Decentralising trade
Questions