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Purpose -The purpose of this study is to propose a bearer service, which generates and maintains a "digital doppelgänger" for every financial contract in the form of a dynamic transaction document that is a standardised "data facility" automatically making important contract data from the transaction counterparties available to relevant authorities mandated by law to request and process such data. This would be achieved by sharing certain elements of the dynamic transaction document on a bearer service, based on a federation of distribution ledgers; such a quasi-simultaneous sharing of risk data becomes possible because the dynamic transaction document maintain a record of state in semi-real time, and this state can be verified by anybody with access to the distribution ledgers, also in semi-real time.Design/methodology/approach -In this paper, the authors propose a novel, regular technology (RegTech) cum automated legal text approach for financial transaction as well as financial risk reporting that is based on cutting-edge distributed computing and decentralised data management technologies such as distributed ledger (Swanson, 2015), distributed storage (

The paper investigates the impact the Internet may have in the evolution of telecommunications networks. First, we show why the Internet, emerging from a different cognitive perception of the data communication problem, has led to a new network architecture based on: (i) the distribution of the 'network intelligence' to the user equipment; (ii) the very cost-effective 'statistical sharing' of the network resources (i.e. getting the whole bandwidth of the network fbr short periods of time); (Hi) the establishment of an Internet Protocol (IP) 'gateway' facilitating interoperability between heterogeneous infrastructure facilities-instead of the operator-controlled homogeneity of the telecom networks; and (iv) an 'adaptative' way for open standards-setting. Second, we suggest that two technological trajectories (telecom-'creative accumulation' and Internet-'creative destruction') should dynamically co-exist henceforth and compete for market shares-possibly during later evolutionary stages generating relatively different national or even localized (e.g. local providers) trajectories of evolution (with differing interfaces and standards). Furthermore, we 2 explore the question of whether the Internet's interoperability model may be a useful •* policy paradigm for future information infrastructures, and we start to discuss the I implications of requisite interoperability on the communications industry's structure z itself. Overall, our preliminary observations raise questions about the possibilities of two "2 'technological trajectories' co-existing, and the relationship between the interoperability J and learning conditions in the network industries.

Abstract. In the real world, cities exist because of external economies associated with the geographic concentration of firms within a city. Of course, such a geographic proximity with input providers and consumers, would at first reduce transportation costs. But why cities, information cities, i.e. large agglomerations of people and economic activity emerge in the virtual world? In the Internet, transportation costs are zero. Web sites can easily be reached from anybody and everywhere with no particular cost. In these conditions of equal access distance, one would rather expect a smooth web geography with a relatively even distribution of visitors per site. However, the web economy illustrates strong agglomeration trends with a very small number of web sites capturing a large segment of the web population and the most of virtual economic activity. This paper attempts to provide a sound basis for the dynamics of population concentration in the web under increasing returns.