Discussing events from the perspective of designing a business network using Composer

We've seen so far that the vocabulary of business networks contains a compact set of inextricably linked concepts—participants, assets, and transactions. Though small in number, these concepts are very expressive—they contain big ideas, with lots of aspects to them, which support and reinforce each other.

It's not that there's something missing, but by adding one extra concept, we're going to significantly increase the descriptive and design power of this vocabulary. This final concept is event—the last ingredient in the mix! The good news is that you've probably heard the term before, and many of the ideas that it supports are quite obvious. But make no mistake, events are a hugely powerful concept, and worth a little time to master—your investment in this topic will be handsomely rewarded.

A universal concept

We think of an event as denoting the occurrence or happening of a particular fact. For example,...