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Production methods used in office automation and electronic payment system platforms in the networked era have unrivalled superiority over traditional production methods; in real life, however, they are just series of 0s and 1s. When digital commodities display the characteristics of assets, they are digital assets. Digital assets have the following characteristics:
These are job-specific applications that involve relatively high research and development costs, and they are more highly priced than goods manufactured in factories.
Application software must be supported by computer hardware and system software to function; it cannot function in a standalone mode.
Even the simplest application software has certain interactive functions, for example, error messages to alert the operator. This is the most basic superiority of IT products.
Digital commodities are scarce as digital assets (not all enterprises or individuals can create digital assets), and yet they are infinite in output. Tangible commodities are limited in output because of the enterprises’ finite financial resources and storage space.
The production cost of tangible assets increases with the quantity produced. The costs of digital assets are mostly the costs incurred in the early production stage of research and development, and sales and other operating expenses during the sales process. On the other hand, the output of digital products is infinite. The development cost of a digital product is amortised across the production quantity according to traditional financial accounting methods. Therefore, the cost of digital products diminishes with increase in sales volume.