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.