In our vision, it is civil-society based peer production, through the Commons, which is the guarantor of value creation by the private sector, and the role of the state, as Partner State, is to enable and empower the creation of common value. The new peer to peer state then, though some may see that as a contradictio in terminis, is a state which is subsumed under the Commons, just as it is now under the private sector. Such a peer to peer state, if we are correct, will have a much more modest role than the state under a classic state society, with many of its functions taken over by civil society associations, interlinked in processes of global governance.
The above then, this triarchy, is the institutional core which replaces the dual private-public binary system that is characteristic of the capitalist system that is presently the dominant format.