27 minutes | Mar 24th 2021

Open versus Closed Standards

What3words provides its users with an easy way of referring to any geographic location, but nobody knows how the three word reference is generated. Is this the right approach or should all standards be open? This podcast looks at how open and closed standards work, investigates the pros and cons of both and considers their economic consequences. We explore existing examples of open and closed standards and delve into the relative levels of control and investment value that both models offer. We also look at the rights of users, such as the right to repair. A few things we mentioned in this podcast: - What 3 Words https://what3words.com/daring.lion.race - Why bother with What Three Words? https://shkspr.mobi/blog/2019/03/why-bother-with-what-three-words/ - Vendor lock-in https://en.wikipedia.org/wiki/Vendor_lock-in - Prisoner’s Dilemma https://www.investopedia.com/terms/p/prisoners-dilemma.asp#:~:text=The%20prisoner's%20dilemma%20is%20a,expense%20of%20the%20other%20participant. - Right to repair https://repair.eu/ - A list of format wars https://www.mentalfloss.com/article/65305/winner-takes-all-8-most-dramatic-format-wars For more information on Aleph Insights visit our website https://alephinsights.com or to get in touch about our podcast email podcast@alephinsights.com Image: Wiyada Arunwaikit via Getty Images/ iStockphoto
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