API economy

API economy refers to an economy of sharing, transacting, reselling/repackaging and/or consuming value in form of digital services, processes and/or data between software applications via application programming interfaces (APIs) that are typically owned or operated by separate entities.^[1] These API's are commonly made publicly available for others to utilise them, based on predefined terms of use and supported by documentation about API's functions.^[2]

References

↑ Columbus, Louis. "2017 Is Quickly Becoming The Year Of The API Economy". Forbes. Retrieved 2018-09-07.
↑ Tan, Wei; et al."From the Service-Oriented Architecture to the Web API Economy". IEEE Internet Computing Vol. 20, No. 4. July-August 2016. P.g. 64-68. DOI: 10.1109/MIC.2016.74.

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[1] Columbus, Louis. "2017 Is Quickly Becoming The Year Of The API Economy". Forbes. Retrieved 2018-09-07.

[2] Tan, Wei; et al."From the Service-Oriented Architecture to the Web API Economy". IEEE Internet Computing Vol. 20, No. 4. July-August 2016. P.g. 64-68. DOI: 10.1109/MIC.2016.74.