The Future of
Exchanging Value
Cryptocurrencies and
the trust economy
Contents
Foreword
5
Exchanging value
6
Technology-driven change
10
Payment trends
12
It’s the system
16
The nature of disruption
18
Short-term vs. long-term change, and the bullwhip effect 20
Competing futures
21
Consumer preference
26
A more secure wallet
28
Potential sources of disruption
30
Moving payments away from the till
34
Showrooming
36
Loyalty
38
Disconnecting payment from product
39
The end of cash
40
Breakout: Digital disruption and exchanging value
43
Rum and cigarettes
44
A store of value
46
A means of exchange
48
Conclusions
54
Near and far future
58
Considerations
59
Managing disruption
61
Endnotes
62
