Digital Formations: IT and New Architectures in the Global Realm: Edited by Robert Latham and Saskia Sassen.
Digital Formations is a fascinating look into the growing world of online communities. While we toil away in our corner of the blogosphere on the topic of employment, other groups are making their presence felt in the realsm of politics, social movements, finance, technology, disparate cultures and in some cases, revolution.
The book is a series of academic essays on the growth and nature of digital formations, which are defined as the network formed by online relationships. A common criticism of online relationships is they lack the "realness" of face-to-face interactions. What the books presents is examples of how these self-organizing communities are a natural outgrowth of a connected world, as people seek self-determination in whatever manner it is offered.
p.12
"Community, especially as thought about in electronic terms, is a complicated matter, but we take it to mean that configurations of spcae, organization and interaction sustain a common identity around shared goals and reciprocal relations among participants, and that such identity, goals, and reciprocity are an important and substantive aspect of each of [the] participant's life, professional or personal."
In short, what it means is online community is not a fad, not a time-waster, and though internet polls and Friday joke videos may seem to lack the importance of say, booking business through cold-calls, they are important to the community members.
The importance of digital formations are financial markets, where electronic networks have created explosive growth in trading, but only as a result of the trust relationship of that network.
p.58
"Foreign exchange transactions were ten times as large as world trade in 1983, but seventy times larger in 1999, even though world trade also grew sharply over this period."
We wouldn't consider this volume of mone insignificant, but the underlying structure of the digital formation is similar to that of all online communities. The digital relationship, in this case, enables trade at the speed electronic communication because virutal trust has been established.
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