The Open Trust Fabric Alliance is an initiative sponsored by the European Commission, Directorate-General of Justice. Open Trust Fabric is managed and supported by Exrade, Trakti, World Commerce and Contracting (IACCM), InfoCamere, Macrocosm and CommonAccord, our team is working together to continue ground-breaking research on applying new methods to the measurement of economic value.
This Methodological Study is called “Modelling the EU Economy as an Ecosystem of Contracts”.
How OTF Works
To create a better framework for policy making and monitoring, data should be leveraged and current economic indicators enhanced with network and “contract” information that better models the modern economy and provides a way to test and assess the impact of policies.
Methodologies need to be updated and supplemented with new measures capable of real time mapping and monitoring of the relationships, networks, underlying structures and non-monetised transactions of the economy. The objective is to make measurable and visible the way intangible assets and data should be accounted for in a European ledger of value.
GDP is a mechanism used to measure the wealth of a country but does not factor in the network aspect of the current economy.
Policy and regulatory bodies find that the fragmentation and inaccessibility of data make it difficult to make policy decisions as they are unable to assess the impact of the decisions.