Layered Modular Architecture (LMA) has emerged as a fruitful foundation for studying digital innovations, particularly digital platforms that built their business models on a select set of layers tightly controlled by the platform owner while strategically opening other layers to heterogeneous third-party complementors. As these platforms continue to grow in size and scope, we observe negative consequences of these platforms. In this essay, I explore these negative consequences of LMA-based platforms through the lens of the unique nature of value creation in LMA-based platforms and the critical roles that a class of digital assets, referred to as lateral value transfer channel, and the property rights and residual values of those digital assets. In so doing, I posit that LMA will further evolve into a decentralized structure with additional layers of identity, personal data, and models. I discuss the theoretical, methodological, social and policy implications of the emergence of decentralized LMA.
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