Word of the Day: Tech Definitions from WhatIs.com

Oct 28 2013   2:32PM GMT

Word of the Day: sharing economy

Margaret Rouse Margaret Rouse Profile: Margaret Rouse


“There’s this sea change and mind shift happening around the American dream. It used to be about ownership, but now it’s about access and convenience.” — Brian Harrington


Today’s WhatIs.com Word of the Day is sharing economy, a trending business concept that highlights the ability (and perhaps the preference) for individuals to rent or borrow goods rather than buy and own them. The most important criteria for a sharing economy is that it allows individuals to monetize assets that are not being fully utilized.

Related terms:

mobile point of sale (mobile PoS)
peer-to-peer (P2P)
sea change

Quiz Yourself

What does direct mobile billing allow you to do?
a. charge merchandise to your mobile phone account
b. share your data plan with family members

Related Reading

CEO mindset: To grow where no one has grown before
Gartner probes the CEO mindset and sees ‘economic defiance,’ an appetite for digital growth and lots of work for the ambitious CIO.

Why companies must rethink data sharing
GE CEO Jeff Immelt explains to customers the benefits of sharing machine data in an industrial Internet.

Understanding PCI mobile payment processing security guidelines
Mike Chapple discusses the new PCI Mobile Payment Acceptance Security Guidelines and explains what merchants must do to comply with these standards.

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