Real Time Micro Marketplace Using IoT, AI/ML, Blockchain 2021

On my garage shelf is  a quart of special brake fluid that was very expensive,  still have a lot of it left, and it is close to expiring. Seems like a waste for it to sit on the shelf, expiring away, when someone nearby can use it. And by nearby, I don't just mean living nearby. It can also be a person who just happens to be passing my neighborhood,  broadcasting passively that he is in need of that special brake fluid.

That led me to think about the world of supply chain. In a simplified view the supply chain world, we can categorize actors as 1) producers of stuff & services 2) deliverer of stuff & services 3) consumers of stuff & services. Stuff are usually tangible assets, like cars, TVs, furniture. Services are usually intangible, such as hospital care, lawyer consultation, financial services. But that model of the world is changing.  The production of stuff kicks off with a plan. A demand driven planning is aggregated from sales forecasts, marketing activities,  foreseen competition movement, expected geo-political events, anticipated seasonality, production capacity, historical records, etc. A supply driven planning is aggregated from factory capacity, supplier capabilities, expected geo-political events, competition. But these plans usually don't just line up. Resulting in excess inventory or stock outs of products.

But there is a new world, where stuff & services are available on-the-fly (that is, without planning). It can be excess inventory - stuff that was produced but no on bought, an idle car passing by that is going exactly where you need to go,  a half quart of special brake fluid. A new marketplace is needed : a real time micro market. And to be able to create a marketplace that is so efficient that event a quart of the special brake fluid can be shared.

A trusted (blockchain) realtime (IoT) network so easy and valuable (AL/ML) to join, everyone will want to join.

So back to the special brake fluid example. I post on the real-time-micro-marketplace that I have a particular brand, product, amount, and price to offer. It is broadcast on the marketplace. It is accessible to not only those living close to me, but also to car passing by. What technologies are needed to make this work?

Internet of Things : real time sensors providing location, brake fluid level, squeal level,

Blockchain : asset and financial data stored here is authenticated, collected in real-time, cannot be altered, and trusted because it is distributed

AI/ML : predict demand for special brake fluid, recommend to those who might also own a similar car, suggest pricing in accordance with expiration date

Cloud : to provide IoT, Blockchain, and AI/ML as a services (meaning you don't  need to buy hardware, plug the hardware into a power socket,  install software on it, connected it to the network, and maintain it 24/7)

In conclusion, current products & services are built on traditional planning and fulfillment systems. But in a world there is much value left on the table for products & services that became available on-the-fly, a new system is needed to connect the producers to the consumers. A real time micro marketplace can make this happen, thanks to the power of IoT, blockchain, and AI/ML.