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It is much more likely that they will all end up as makers of interchangeable commodities for the digital home, that the consumer cares little about unless the stuff breaks down.
And some of those loans can be sold even before they are finalized because they qualify for the "to be announced" market that allows fixed-rate mortgage-backed securities to be traded freely as interchangeable commodities.
He argues that for any such "open platform" exchange to work, "you need a truly fungible commodity, and you need liquidity".Unlike, say, treasury bills, he reckons electricity and gas are not perfectly interchangeable commodities: their prices vary wildly by geographical market, for example, and they can fluctuate every few seconds.
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One sees art as "an interchangeable exchangeable commodity", and one is about ideas and aesthetics.
Although desktops and laptops are not a truly interchangeable commodity such as crude oil, the logo on a machine has not really mattered for years now.
The success of Zipcar, the car-sharing company that allows drivers to rent a vehicle locally by the hour, indicates that many drivers have come to view an automobile as an interchangeable commodity, like a refrigerator.
In the USA, multisource drugs administered under a medical benefit typically receive the same drug billing and payment code, reflecting their status as an interchangeable commodity [ 24].
In the USA, multisource drugs are commonly treated as an interchangeable commodity for which a prescriber need not select any particular version (i.e., prescribing by generic name is encouraged), and switching among generic equivalents is commonly practiced at the pharmacy level without prescriber awareness or involvement.
Everything else is relatively interchangeable, a commodity.
But all this was based on the concept of hotel rooms as commodities; interchangeable wares that could be bought and sold in bulk.
"A single metal isn't interchangeable with a broad-based commodities basket," said Martin Kremenstein, chief investment officer at DB Commodity Services, a subsidiary of Deutsche Bank.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com