There are lots of reasons to want a peer-based transacting system.  As a starter – it would greatly reduce the complexity of managing our affairs, since a peer-based system would be consistent.   It would reduce the cost, since a peer system would necessarily be or become open source.  It would allow a far broader group of contributors to participate in making things better.  It could reduce the concentration of information (and power).  Done well, it could greatly increase data security by eliminating the need to share data broadly.

Europe has not been the home of as many of the internet winners as other areas.  It has, of course, been the home of many of the most impactful technologies, such as the web (Berners-Lee) and Linux (Torvalds).  And many of the ideas and people who built the internet eco-system started someplace and found their their way to Silicon Valley, Seattle, Boston, Austin, etc.

In a piece here, we argue that Europe, perhaps precisely because it has been more a source of ideas, data and customers than an home for hubs, may well lead the P2P transformation.  This will also be part of a transformation of the “business model” of much of the web from a for-profit model to a for-purpose model.  This is an extension of the dynamic of open source.