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The web of things is built on the web of documents, which is built on the web of computers controlled by Domain Name owners, which itself is build on a set of interconnected cables. This is an architecture which provides a social backing to the names for things. It allows people to find out the social aspects of the things they are dealing with, such as provenance, trust, persistence, licensing and appropriate use as well as the raw data. It allows people to figure out what has gone wrong when things don't work, by making the responsibility clear.
The value of this architecture is that each layer leverages the social components of the lower layer's architecture