The digital economy is shifting towards a ‘post-growth’ model, where companies prioritise sustainability over expansion. This approach, known as ‘degrowth’, focuses on reducing consumption and waste, while maintaining high-quality service and customer satisfaction. The idea is to create a circular economy that reuses and recycles resources, rather than a linear one that continually needs more.
Companies like Fairphone and Phonebloks are leading the way in this new economic model. They produce modular smartphones, which are designed to be repaired and upgraded, rather than replaced. This not only reduces electronic waste, but also means customers can keep their phones for longer.
This new digital economy also embraces the concept of ‘open source’ – sharing knowledge and resources to promote innovation. For instance, Wikispeed, a car manufacturing company, shares its designs online for free, allowing anyone to build their own car.
While this approach may seem counterintuitive to traditional business models, it’s proving successful. Companies are finding that prioritising sustainability and customer satisfaction can lead to long-term profitability. This shift towards a post-growth, circular economy could be the future of the digital world.
Go to source article: https://blog.p2pfoundation.net/the-next-digital-economy-why-refusing-to-grow-is-better-business/2016/11/01