The creation, capture and transfer of value is increasingly, and irreversibly occurring in a multitude of digital forms. When you add to that the value driven by digital presence, the move from customer centricity to empowerment and the exponential pace of change in technology – the future of value transfer will have a profound and lasting effect on the future of financial services.
Digital currencies, crypto, stable coins, fungible and non-fungible tokens are just some of the ways that the very fabric of commercial and social transactions is being transformed. But that is just the beginning – in a world where we increasingly see the creation and representation of value in digital form, we believe that the future of value transfer will encompass the exchange of value derived from customer activity, in addition to digital representations of currencies, real and digital assets, fractions of assets, and entitlements to those assets.
Creating value from data ownership will be subsumed by the immensely more valuable concept of data access – value will not be about who has the data but rather about who can get the data. Customers will look to combine the value of their digital presence with their other digital stores of value and will ultimately demand to be empowered to create and capture value from their choices. Success in the new world will go to those that best empower and enable the simultaneous creation, capture, and transferability of value – in any, and all, digital forms.
The future of value transfer will foster a change in mindset from market taking to market making—from seeking market share by meeting current needs to creating a world of new opportunity by redefining what future wants are going to be.
The articles below deep dive into key aspects of the future of value transfer along six key dimensions: trust, identities, inclusion, responsibility, sustainability and platforms.
In future value webs, where financial services will be increasingly decentralized, trust will need to be cultivated in real-time and digital identities will move from a static to fluid concept – attributed not only individuals but virtually all goods and services. Connecting our physical and virtual worlds and capturing the value of nearly all consumer choices.
Explore how this shift will impact financial institutions, regulators and consumers, and consider how financial services might be reshaped to support the simultaneous creation, capture, and transfer of value within a global value web.
The future of value transfer trust and identity
Considering digital identity and digitally-enabled fractional ownership, we believe that future value webs will create new opportunities for advancing financial inclusion. On one hand, they will pave the way for ubiquitous platforms to trade goods, services and other value between people and businesses without the need for physical cash, resulting in enhanced trade opportunities, increased incomes, and growth. On the other hand, the shift to the digital economy can make formal financial services accessible to the billion adults worldwide who still live without them.
Explore how the evolving nature of digitized value webs will augment technology’s ability to boost inclusion. It is our belief that these ever-expanding value webs can already deliver the basis for increasingly sustainable financial services, where profit and purpose converge – provided by many for the benefit of many.
Interoperability between ecosystems is necessary to effectively transfer value, create liquidity, drive sustainable growth and opportunities for new business models in a truly interconnected value web. Closed-loop systems will need to evolve into interconnected systems to facilitate decentralization and customer empowerment.
We expect the future to increasingly exist within open value webs, supported by platforms that consolidate interoperable nodes for value creation, capture and transfer between regulators, customers, creators and intermediaries on a global basis.
The future of the web and metaverse is evolving continuously. Organizations are investing a lot of resources to be a part of the next generation of the internet. Along with this, value webs are also evolving and are becoming more ubiquitous. But how can businesses achieve mutual value generation in value webs?
In our journey to unpack the Future of Value Transfer, this report highlights the similarities and overlap between the metaverse and the emergence of value webs, and how it can create opportunities for mutual value creation. The report also focuses on how the underlying entry points (trust, responsibility, sustainability, identity, platforms, and inclusion) can drive mutually realizable and transferable value, within and between the ever-expanding value webs. It explores how businesses can realign their strategic positioning and monitor their transition to achieve mutual value generation.