In his article "Implications of the transition towards library services platforms", Librarian Paul Derscheid compares the architectural makeup of a library services platform (LSP) as opposed to an ILS. He explores the implications of open-source systems like FOLIO and opportunities for innovation:
"The introduction and widespread adoption of open-source LSPs or at least LSPs that embrace the platform model could lead to a radical shift in interactivity between not only institutions and their patrons but also lead to the creation of entirely new services that are not commonly associated with libraries, e.g. social networks that are scoped locally or regionally and tightly integrated with core library services. Cooperation within library associations could enable competitive products like book cover or patron review APIs, which companies like Amazon or Thalia could subscribe to, to enrich their own product descriptions. Patrons could profit from blockchain-based tokens that could function as a reward for generating content for the just mentioned APIs, and this are just some quickly envisioned examples."
Read the whole article here.