Today’s property rules don’t work in our IoT world

Property and ownership are among the most basic concepts of a modern society. Our ability to clarify who owns what separates us from savages because property and ownership help us maintain our independence and identity.

The rules of property and ownership have evolved over centuries. There are clear transfer procedures for all types of property, including real estate, cars and even books. The problem is these age-old concepts are not holding up in our connected and digital world.

Cambridge University Press

“Property ownership as we know it is under attack and fading fast,” writes Joshua Fairfield in his book Owned: Property, Privacy, and the New Digital Serfdom. “The Internet of Things and digital property ownership systems are being built on the old feudal model.”

Fairfield makes some important points about the role we are playing our changing world.

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