The Future of Currency and Transactions<br />Heather Schlegel | @heathervescent<br />image: peasap<br />
Research Methodology<br />Survey<br /><ul><li>220+ participants
23 questions
Oct-Nov 2010</li></ul>Interviews<br /><ul><li>20+ participants
Nov-Jan 2011</li></ul>Research & Scanning<br />7/10/2011|  2<br />@heathervescent<br />image: Blue quare Thing<br />
Usage Today<br />7/10/2011|  3<br />@heathervescent<br />image:  quaziphoto<br />
Offline<br />4/6/2011  |  4<br />@heathervescent<br />Online<br />60% Credit  |  57% Debit<br />70% Credit  |  35% Debit<b...
Economic Participation<br />5<br />7/10/2011|  5<br />@heathervescent<br />
The Trends<br />Alternate Currencies<br />New Currencies<br />Mobile Technology<br />Credit Card Innovations<br />Collabor...
Alternate Currencies<br />Gaming Currencies<br />Corporate Currencies<br />Social Capital Currencies<br />Value-Encoded Cu...
Alternate Currencies<br />4/6/2011  |  8<br />@heathervescent<br />Gaming Currencies<br /><ul><li>WoW, Linden, Facebook</l...
Value-Encoded Currencies<br />The Ven<br /><ul><li>International
Carbon Neutral</li></ul>Bitcoin<br /><ul><li>Peer to Peer
No Banks
Anonymous</li></ul>7/10/2011|  9<br />@heathervescent<br />Image: Tama Leaver <br />
Mobile Innovations<br />Mobile Technologies<br /><ul><li>NFC
QR Codes</li></ul>Smartphone Apps<br /><ul><li>Paypal
Google Wallet</li></ul>Hardware<br /><ul><li>SquareUp</li></ul>7/10/2011|  10<br />@heathervescent<br />Images:csaila<br />
7/10/2011|  11<br />@heathervescent<br />
Credit Card Innovations<br />NFC<br />Multiple cards in one<br />Singlecharge authorization<br />Pin-codeconfirmation<br /...
Collaborative Consumption<br />Shifting Values<br /><ul><li>Recycling
Reusing
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The Future of Alternate Currency and Transactions

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How will we pay for things in the future?

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  • Need to make notes of biases here
  • Online Banking: High PenetrationOnline Banking (91%) and Payments (89%) Top Online Platforms: Paypal, Apple PaymentsOnline Currency: Niche UseOnline (23%) and Virtual Game Currencies (26%)5% bought, 14% earned and 9% used. WoW, Linden, FB Coin top mentionedMobile: EmergingMobile Banking (39%) and Payments (24%)Alternate TransactionsRandom Acts (68%) and Pro-Bono (60%)
  • How do people pay for things?
  • Traditional Economy highestNon-Financial EconomiesGift (54%)Barter (52%)Favor (50%)Networking (43%)Social Capital (40%)Time Banks have little exposure (9%)
  • TodayComfortable with online paymentsMobile payment options are being explored Alternate currencies are used in specific communitiesMobile technology promises muchThree Invisible TrendsCommunities of transactionBonding through non-financial transactionsCommunicate what I value
  • Alternate Currencies are used in their Niche CommunitiesWhether they are corporate currencies, community currencies or currencies of social capital… these are found and used in niche communities.Gaming CurrenciesWoW, Linden, FacebookCorporate CurrenciesFrequent Flyer, Rewards PointsSocial Capital CurrenciesRatings, RecommendationValue-encoded CurrenciesVen, Bitcoin
  • These currencies have values encoded into their “DNA”Ven: international weighed (not dependant on the dollar) and carbon neutral.Bitcoin: peer to peer, no need to use a trusted network (no banks), like cash but can be used online using an encrypted key
  • Finally starting to internalize post-consumer values which is shifting behaviors.Values are shiftingCommunity ExamplesFreecyclerNeighborGoodsCouchSurfingTrade School (NYC)
  • We are increasing non-financial transactions.And these non-financial transactions create stronger bonds between people than a pure money exchange.This becomes a positive feedback loop when these transactions happen in a community – and often a community will form around these non-financial transactions.
  • These alternate currencies, mobile transactions, and non-financial transactions are not looking to replace the current economic system, but to extend into areas currently unserved by traditional methods and channels. Bandwidth to Communicate More: My ValuesThe experienceThe transactionShared ValuesOther Characteristics
  • Build the Technological gap to fulfill the need to track alt currenciesIssues: Definitions, Openness, Cross-SystemSolution: Propose standards organization
  • The Future of Alternate Currency and Transactions

    1. 1. The Future of Currency and Transactions<br />Heather Schlegel | @heathervescent<br />image: peasap<br />
    2. 2. Research Methodology<br />Survey<br /><ul><li>220+ participants
    3. 3. 23 questions
    4. 4. Oct-Nov 2010</li></ul>Interviews<br /><ul><li>20+ participants
    5. 5. Nov-Jan 2011</li></ul>Research & Scanning<br />7/10/2011| 2<br />@heathervescent<br />image: Blue quare Thing<br />
    6. 6. Usage Today<br />7/10/2011| 3<br />@heathervescent<br />image: quaziphoto<br />
    7. 7. Offline<br />4/6/2011 | 4<br />@heathervescent<br />Online<br />60% Credit | 57% Debit<br />70% Credit | 35% Debit<br />46% Cash<br />48% Paypal<br />7/10/2011| 4<br />@heathervescent<br />images: quaziphoto, H2SO4, Andres Rueda, snail’s trail<br />
    8. 8. Economic Participation<br />5<br />7/10/2011| 5<br />@heathervescent<br />
    9. 9. The Trends<br />Alternate Currencies<br />New Currencies<br />Mobile Technology<br />Credit Card Innovations<br />Collaborative Consumption<br />Non-Financial Transactions<br />7/10/2011| 6<br />@heathervescent<br />Images: sevnfloorsdown<br />
    10. 10. Alternate Currencies<br />Gaming Currencies<br />Corporate Currencies<br />Social Capital Currencies<br />Value-Encoded Currencies<br />7/10/2011| 7<br />@heathervescent<br />Image: Todd Huffman<br />
    11. 11. Alternate Currencies<br />4/6/2011 | 8<br />@heathervescent<br />Gaming Currencies<br /><ul><li>WoW, Linden, Facebook</li></ul>Corporate Currencies<br /><ul><li>Frequent Flyer, Rewards Points</li></ul>Social Capital Currencies<br /><ul><li>Ratings, Recommendation</li></ul>Value-encoded Currencies<br /><ul><li>Ven, Bitcoin</li></ul>7/10/2011| 8<br />@heathervescent<br />Image: Todd Huffman<br />
    12. 12. Value-Encoded Currencies<br />The Ven<br /><ul><li>International
    13. 13. Carbon Neutral</li></ul>Bitcoin<br /><ul><li>Peer to Peer
    14. 14. No Banks
    15. 15. Anonymous</li></ul>7/10/2011| 9<br />@heathervescent<br />Image: Tama Leaver <br />
    16. 16. Mobile Innovations<br />Mobile Technologies<br /><ul><li>NFC
    17. 17. QR Codes</li></ul>Smartphone Apps<br /><ul><li>Paypal
    18. 18. Google Wallet</li></ul>Hardware<br /><ul><li>SquareUp</li></ul>7/10/2011| 10<br />@heathervescent<br />Images:csaila<br />
    19. 19. 7/10/2011| 11<br />@heathervescent<br />
    20. 20. Credit Card Innovations<br />NFC<br />Multiple cards in one<br />Singlecharge authorization<br />Pin-codeconfirmation<br />7/10/2011| 12<br />@heathervescent<br />Image: Robert Scoble<br />
    21. 21. Collaborative Consumption<br />Shifting Values<br /><ul><li>Recycling
    22. 22. Reusing
    23. 23. Sharing
    24. 24. Sustainability</li></ul>7/10/2011| 13<br />@heathervescent<br />Images:<br />
    25. 25. Non-Financial Transactions<br />7/10/2011| 14<br />@heathervescent<br />Images: rotokirby<br />
    26. 26. Non-Financial Transactions<br />Freecycler<br />NeighborGoods<br />CouchSurfing<br />Local Time Banks<br />Produce, Clothing, Electronics Swaps<br />7/10/2011| 15<br />@heathervescent<br />Images: rotokirby<br />
    27. 27. Extend, Not Replace<br />16<br />7/10/2011| 16<br />@heathervescent<br />Images: Troy Holden<br />
    28. 28. 4/6/2011 | 17<br />@heathervescent<br />Dinner with Friends<br />7/10/2011| 17<br />@heathervescent<br />Images: Jerry Faykin<br />
    29. 29. 4/6/2011 | 18<br />@heathervescent<br />Other Possibilities<br />Value Score<br />BioMetric Payment <br />Single Point of Payment<br />Financial AI<br />Universal Global Currency<br />7/10/2011| 18<br />@heathervescent<br />Image: epSos.de <br />
    30. 30. How will you participate? <br />Shape? Support? Oppose?<br />7/10/2011| 19<br />@heathervescent<br />Images: abbynormy<br />
    31. 31. One Opportunity<br />7/10/2011| 20<br />@heathervescent<br />Images: heathervescent<br />
    32. 32. One Challenge<br />7/10/2011| 21<br />@heathervescent<br />Images: functouser<br />
    33. 33. Recommendation<br />7/10/2011| 22<br />@heathervescent<br />Images: Silverisdead<br />
    34. 34. 4/6/2011 | 23<br />@heathervescent<br /> Thank You<br />Heather Schlegel<br />heathervescent@gmail.com<br />@heathervescent<br />Image:bdearth<br />

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