Platforms are not something new. Essentially, a platform business model is simply a way to connect two groups, whether it’s uniting buyers and sellers on an eCommerce platform or uniting riders and drivers through an app. That business model, though, has revolutionized many parts of the economy.

Digital platforms have been very successful in competing with one another. Matthew Schruers, president of the Computer & Communications Industry Association (CCIA), told PYMNTS that they have been so successful that they disrupted a lot of incumbents, which has brought on the establishment’s discontent.

This business model took off so quickly in the last few years because it can be so effectively deployed with technology. Many of the largest digitally enabled services have platform business models in entirely different sectors of the economy.

Read the full article regarding this interview HERE.