The importance of standardization

[repo]

 

[repo]

Imagine a place like Somalia where no standardization exists.
You saved money for light in your little hut.
A light socket gets installed and with it comes a light bulb.
2 years later the light bulb went out.
You ask for a new light bulb but it is no longer available.
You must now replace the light socket but you can not afford it.

 

[Ras]

Huge economic catalyst since it's the best form of tangible "value" in goods and services.

Won't only help in industrialization but would it would give value to best practices and hence push us up value chains.

 

[Ras]

Imagine a place like Somalia where no standardization exists.
You saved money for light in your little hut.
A light socket gets installed and with it comes a light bulb.
2 years later the light bulb went out.
You ask for a new light bulb but it is no longer available.
You must now replace the light socket but you can not afford it.

If all the lightbulbs used similar standards then the light bulb salesman would have more opportunities to sell and we could utilize economies of scale and build lightbulb factories because there's a bigger predictable demand.

 

[repo]