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Lecture 04
Modeling Business Decisions
Dr. Jorge Ramírez Medina
Demo; Power BI Microsoft
Dr. Jorge Ramírez Medina
Team Work
• Prototype your strategy
1. Disrupt your Business
• New bikes ideas and designs
• Improve Customers relationships or Brand recognition using technology
2. Digitize the core business
• Marketing, Manufacturing, Back Office processes
3. Create Value from Data
• How leverage data?, what data?. Specify revenues.
4. Create ecosystem
• The value chain
Dr. Jorge Ramírez Medina
Disrupt your Business
• Technologies that create an entirely new offering can lead to the formation of new industries.
• Instead of competing to capture a share of the value in an existing industry, a new technology can
allow a firm to create and capture value in an entirely new industry.
• According to Philip Evans & Patrick Forth, there are three competitive tech waves namely:
Commercial Internet, Economies of mass and Hyperscaling
Dr. Jorge Ramírez Medina
Digitize the core Business
• Business Intelligence is a set of methods, processes, architectures, applications, and technologies that
gather and transform raw data into meaningful and useful information used to enable more effective
strategic, tactical, and operational insights and decision-making (to drive business performance).
• The 5 Stages of Business Intelligence are; Data, ETL, Data Warehousing:, Analytic Engine,
Presentation Layer (related to BI LifeCycle)
Dr. Jorge Ramírez Medina
Create Value from Data
• Knowledge is the necessary condition for decisión making. Data-Information-Knowledge
• 2 Types of information processing; Transactional OLTP and Analytical OLAP
• OLAP is a function/operation that is optimized to answer queries that are multi-dimensional in
nature
• A Data Warehouse integrates the information generated in all areas of business activity (sales,
production, finance, marketing, etc.) and allows access to and use of the information.
Dr. Jorge Ramírez Medina
Create Ecosystem
• 3 levels of BI; Strategic, Tactic and Operational
• Power BI is a free BI tool
• Gartner Hype Cycles provide a graphic representation of the maturity and adoption of technologies
and applications, and how they are potentially relevant to solving real business problems and
exploiting new opportunities.
• Gartner Magic Quadrant putsTechnology Players Within a Specific Market
Dr. Jorge Ramírez Medina
Align straytegy
• Dominant strategy always works better than any other strategy, this is always the first option of a
rational player.
• Dominated strategy never works better than any other strategy. For this reason there is not the
option of a rational player.
• Nash equilibrium is a solution concept of a non-cooperative game involving two or more players, in
which each player is assumed to know the equilibrium strategies of the other players, and no player
has anything to gain by changing only his own strategy
• Companies data-driven were, on average, 5% more productive and 6% more profitable than their
competitors.
Dr. Jorge Ramírez Medina
Align straytegy
• Intelligence as a process, Intelligence as a product, Intelligence as an organization.
• Intelligence is information that meets the stated or understood needs of policy makers, and has been
collected, processed, and narrowed to meet those needs.
• Elements of Intelligence
1. collection,
2. analysis,
3. dissemination, and
4. covert action
Dr. Jorge Ramírez Medina
Readings control
Dr. Jorge Ramírez Medina
Digital Payment Systems
Credit and Debit Cards
• Consumer Benefits
• Delayed payment.
• Revolving credit.
• Rewards.
• Consumer protection.
• Merchant Benefits
• Fast payment.
• Assurance of payment
• Increased consumer spending
Dr. Jorge Ramírez Medina
Digital Payment Systems
PayPal
Google Wallet
Amazon Payments
Apple Pay
Dr. Jorge Ramírez Medina
History of Money
Dr. Jorge Ramírez Medina
Bitcoin
Bitcoin protocol, “a new electronic cash system that’s fully peer-to-peer, with no trusted third-party.”
No central party was required to verify the validity of transactions. Instead relied on an open,
distributed network of computers and cryptographic algorithms to confirm the validity of transactions.
Dr. Jorge Ramírez Medina
Bitcoin a little history
Before Bitcoin;
e-gold, Beenz, Facebook Credits (virtual currencies)
Ecosystem;
Litecoin, Peercoin, Terracoin (emerging)
Now;
$140 million invested in Bitcoin start-ups and an increasing
Number of mainstream companies are starting to accept payments in Bitcoin (Expedia, Dish, Dell)
Dr. Jorge Ramírez Medina
Business models
at Bitcoin Ecosystem
1. Traditional bank accounts for consumers
Circle, Xapo; focused on digital wallets, which allowed consumers to store and pay
2. Traditional credit card payment processors .
BitPay ; enabling merchants to accept payments in Bitcoin.
3. Serving both consumers and merchants.
Coinbase; provided both merchant services and digital wallets, (two-sided platforms)
Dr. Jorge Ramírez Medina
Class question
Is Bitcoin the future of digital payments?
Dr. Jorge Ramírez Medina
Class question
International remittances
Dr. Jorge Ramírez Medina
Class question
International remittances
Pros:
1. Huge addressable market while still staying focused on consumers.
2. Larger fees from consumers by focusing on international remittances than by focusing on domestic peer-
to-peer payments or consumer-merchant commercial transactions.
3. Alternatives available today for international remittances (MoneyGram, Western Union) are vastly more
expensive and inferior (long delays before the money is available to the recipient).
Dr. Jorge Ramírez Medina
Class question
International remittances
Cons:
1. Kipochi and BitPesa have the first-mover advantage and they focus entirely on remittances.
2. Remittances require features that differ significantly from the ones offered by “regular” wallets used for
paying online merchants. Thus, it is not clear there are many synergies in doing both.
3. The direct network effects of international remittance services are extremely localized and thus do not
provide a significant barrier-to-entry
Dr. Jorge Ramírez Medina
Does it meet the requirements?
• Prototype your strategy
1. Disrupt your Business
2. Digitize the core business
3. Create Value from Data
4. Create ecosystem




Dr. Jorge Ramírez Medina
What about strategy?
Prices may be
• High $ 120
• Average $ 100
• low $ 50
1000 clients total Maket
• 300 only buy at BitCoin Market
• 300 only buy at Silver Dollar Market
• 400 buy at cheaper or choose whatever of the two markets, if price is the same
Adaptado del curso Competitive Strategy del professorTobiasKretschmer. Ludwig-Maximilians-UniversitätMünchen(LMU)
Dr. Jorge Ramírez Medina
Game scenario
Players
–BitCoin, Silver Dollar
Actions
–High prices,
–Average prices
–Low prices
Rules
–Simultaneous decision making
Adaptado del curso Competitive Strategy del professorTobiasKretschmer. Ludwig-Maximilians-UniversitätMünchen(LMU)
Dr. Jorge Ramírez Medina
Game scenario
Reward (Payment)
Case of
Bitcoin average price and
Silver Dollar high Price
Then
Bitcoin sells 300 loyal customers, plus 400 who go for the lowest price (300 + 400) * 100 = $ 70,000.
Silver Dollar Sells 300 loyal customers. (300) * 120 = $ 36.000
Adaptado del curso Competitive Strategy del professorTobiasKretschmer. Ludwig-Maximilians-UniversitätMünchen(LMU)
Dr. Jorge Ramírez Medina
Matrix
BitCoin
Dollar
High Average Low
High 60/60 36/70 36/35
Average 70/36 50/50 30/35
Low 35/36 35/30 25/25
Adaptado del curso Competitive Strategy del professorTobiasKretschmer. Ludwig-Maximilians-UniversitätMünchen(LMU)
Dr. Jorge Ramírez Medina
Dominant strategy
1. A strategy that always works better than any other strategy.
2. Because of that, this is always the of a rational player’s first option.
3. A rational opponent plays to select the dominant strategy.
Tomado del curso Competitive Strategy del professorTobiasKretschmer. Ludwig-Maximilians-UniversitätMünchen(LMU)
Dr. Jorge Ramírez Medina
Dominated strategy
1. A strategy that never works better than any other strategy.
2. For this reason there is the option of a rational player.
3. A rational opponent never plays to select the dominated strategy.
Tomado del curso Competitive Strategy del professorTobiasKretschmer. Ludwig-Maximilians-UniversitätMünchen(LMU)
Dr. Jorge Ramírez Medina
Solving
Identify dominant
BitCoin
Dollar
High Average Low
High 60/60 36/70 36/35
Average 70/36 50/50 30/35
Low 35/36 35/30 25/25
Adsaptado del curso Competitive Strategy del professorTobiasKretschmer. Ludwig-Maximilians-UniversitätMünchen(LMU)
Dr. Jorge Ramírez Medina
Solving
Identify dominant
BitCoin
Dollar
High Average Low
High 60/60 36/70 36/35
Average 70/36 50/50 30/35
Low 35/36 35/30 25/25
Adaptado del curso Competitive Strategy del professorTobiasKretschmer. Ludwig-Maximilians-UniversitätMünchen(LMU)
Dr. Jorge Ramírez Medina
Solving
Identify dominated
BitCoin
Dollar
High Average Low
High 60/60 36/70 36/35
Average 70/36 50/50 30/35
Low 35/36 35/30 25/25
Adpatado del curso Competitive Strategy del professorTobiasKretschmer. Ludwig-Maximilians-UniversitätMünchen(LMU)
No Dominat Strategy
Dr. Jorge Ramírez Medina
Solving
Identify dominated
BitCoin
Dollar
High Average Low
High 60/60 36/70 36/35
Average 70/36 50/50 30/35
Low 35/36 35/30 25/25
Adaptado del curso Competitive Strategy del professorTobiasKretschmer. Ludwig-Maximilians-UniversitätMünchen(LMU)
No Dominat Strategy
Dr. Jorge Ramírez Medina
The key
Dr. Jorge Ramírez Medina
Class exercise
Dr. Jorge Ramírez Medina
Modeling Business Decisions
Business Process Model and Notation (BPMN) is the
global standard for process modeling.
You have to use a BPMN standardized symbols in order
to align the meaning of symbols and their attributes.
Dr. Jorge Ramírez Medina
List process steps
1. Decide which business process in your organization you'd like to diagram.
2. Then record each step that occurs in that process.
3. Make sure to take into account all factors, decisions, and possible relationships that contribute to
the workflow.
Dr. Jorge Ramírez Medina
Class exercise, Lucidchart
1. Start with the first event. For example, you might be representing a process triggered by a
customer's actions.
2. In this case, the customer's initiation of the process is the first event.
3. In Lucidchart, you can simply drag a Start Event shape from the toolbox to the canvas.
Dr. Jorge Ramírez Medina
Class exercise, Lucidchart
4. Draw lines and add symbols to build out the rest of the process. To ensure that you're covering
every step, consider questions like,
• What happens when the customer initiates this process?
• How do the customer's actions affect other parts of the organization, like the help desk or
the sales department?
• When do other factors and people enter the flow? Which options or new paths do they
provide?
Dr. Jorge Ramírez Medina
Class exercise, Lucidchart
5. BPMN diagrams can become unnecessarily complicated when they are disorganized.
6. While BPMN has many symbols and options, it's still possible to create an attractive, easy-to-read
chart.
7. Generally, the main process is aligned horizontally, with associated symbols added vertically.
8. Keep your formatting preferences consistent, since unnecessary fonts, explanations, or colors can
be confusing.
9. Try to add new elements only if they add to the overall understanding of the business process.
Dr. Jorge Ramírez Medina
Class exercise, Lucidchart
Dr. Jorge Ramírez Medina
Modeling Business Decisions. KPI
Dr. Jorge Ramírez Medina
End of session

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AD4026 BI Sesión 04

  • 2. Dr. Jorge Ramírez Medina Demo; Power BI Microsoft
  • 3. Dr. Jorge Ramírez Medina Team Work • Prototype your strategy 1. Disrupt your Business • New bikes ideas and designs • Improve Customers relationships or Brand recognition using technology 2. Digitize the core business • Marketing, Manufacturing, Back Office processes 3. Create Value from Data • How leverage data?, what data?. Specify revenues. 4. Create ecosystem • The value chain
  • 4. Dr. Jorge Ramírez Medina Disrupt your Business • Technologies that create an entirely new offering can lead to the formation of new industries. • Instead of competing to capture a share of the value in an existing industry, a new technology can allow a firm to create and capture value in an entirely new industry. • According to Philip Evans & Patrick Forth, there are three competitive tech waves namely: Commercial Internet, Economies of mass and Hyperscaling
  • 5. Dr. Jorge Ramírez Medina Digitize the core Business • Business Intelligence is a set of methods, processes, architectures, applications, and technologies that gather and transform raw data into meaningful and useful information used to enable more effective strategic, tactical, and operational insights and decision-making (to drive business performance). • The 5 Stages of Business Intelligence are; Data, ETL, Data Warehousing:, Analytic Engine, Presentation Layer (related to BI LifeCycle)
  • 6. Dr. Jorge Ramírez Medina Create Value from Data • Knowledge is the necessary condition for decisión making. Data-Information-Knowledge • 2 Types of information processing; Transactional OLTP and Analytical OLAP • OLAP is a function/operation that is optimized to answer queries that are multi-dimensional in nature • A Data Warehouse integrates the information generated in all areas of business activity (sales, production, finance, marketing, etc.) and allows access to and use of the information.
  • 7. Dr. Jorge Ramírez Medina Create Ecosystem • 3 levels of BI; Strategic, Tactic and Operational • Power BI is a free BI tool • Gartner Hype Cycles provide a graphic representation of the maturity and adoption of technologies and applications, and how they are potentially relevant to solving real business problems and exploiting new opportunities. • Gartner Magic Quadrant putsTechnology Players Within a Specific Market
  • 8. Dr. Jorge Ramírez Medina Align straytegy • Dominant strategy always works better than any other strategy, this is always the first option of a rational player. • Dominated strategy never works better than any other strategy. For this reason there is not the option of a rational player. • Nash equilibrium is a solution concept of a non-cooperative game involving two or more players, in which each player is assumed to know the equilibrium strategies of the other players, and no player has anything to gain by changing only his own strategy • Companies data-driven were, on average, 5% more productive and 6% more profitable than their competitors.
  • 9. Dr. Jorge Ramírez Medina Align straytegy • Intelligence as a process, Intelligence as a product, Intelligence as an organization. • Intelligence is information that meets the stated or understood needs of policy makers, and has been collected, processed, and narrowed to meet those needs. • Elements of Intelligence 1. collection, 2. analysis, 3. dissemination, and 4. covert action
  • 10. Dr. Jorge Ramírez Medina Readings control
  • 11. Dr. Jorge Ramírez Medina Digital Payment Systems Credit and Debit Cards • Consumer Benefits • Delayed payment. • Revolving credit. • Rewards. • Consumer protection. • Merchant Benefits • Fast payment. • Assurance of payment • Increased consumer spending
  • 12. Dr. Jorge Ramírez Medina Digital Payment Systems PayPal Google Wallet Amazon Payments Apple Pay
  • 13. Dr. Jorge Ramírez Medina History of Money
  • 14. Dr. Jorge Ramírez Medina Bitcoin Bitcoin protocol, “a new electronic cash system that’s fully peer-to-peer, with no trusted third-party.” No central party was required to verify the validity of transactions. Instead relied on an open, distributed network of computers and cryptographic algorithms to confirm the validity of transactions.
  • 15. Dr. Jorge Ramírez Medina Bitcoin a little history Before Bitcoin; e-gold, Beenz, Facebook Credits (virtual currencies) Ecosystem; Litecoin, Peercoin, Terracoin (emerging) Now; $140 million invested in Bitcoin start-ups and an increasing Number of mainstream companies are starting to accept payments in Bitcoin (Expedia, Dish, Dell)
  • 16. Dr. Jorge Ramírez Medina Business models at Bitcoin Ecosystem 1. Traditional bank accounts for consumers Circle, Xapo; focused on digital wallets, which allowed consumers to store and pay 2. Traditional credit card payment processors . BitPay ; enabling merchants to accept payments in Bitcoin. 3. Serving both consumers and merchants. Coinbase; provided both merchant services and digital wallets, (two-sided platforms)
  • 17. Dr. Jorge Ramírez Medina Class question Is Bitcoin the future of digital payments?
  • 18. Dr. Jorge Ramírez Medina Class question International remittances
  • 19. Dr. Jorge Ramírez Medina Class question International remittances Pros: 1. Huge addressable market while still staying focused on consumers. 2. Larger fees from consumers by focusing on international remittances than by focusing on domestic peer- to-peer payments or consumer-merchant commercial transactions. 3. Alternatives available today for international remittances (MoneyGram, Western Union) are vastly more expensive and inferior (long delays before the money is available to the recipient).
  • 20. Dr. Jorge Ramírez Medina Class question International remittances Cons: 1. Kipochi and BitPesa have the first-mover advantage and they focus entirely on remittances. 2. Remittances require features that differ significantly from the ones offered by “regular” wallets used for paying online merchants. Thus, it is not clear there are many synergies in doing both. 3. The direct network effects of international remittance services are extremely localized and thus do not provide a significant barrier-to-entry
  • 21. Dr. Jorge Ramírez Medina Does it meet the requirements? • Prototype your strategy 1. Disrupt your Business 2. Digitize the core business 3. Create Value from Data 4. Create ecosystem    
  • 22. Dr. Jorge Ramírez Medina What about strategy? Prices may be • High $ 120 • Average $ 100 • low $ 50 1000 clients total Maket • 300 only buy at BitCoin Market • 300 only buy at Silver Dollar Market • 400 buy at cheaper or choose whatever of the two markets, if price is the same Adaptado del curso Competitive Strategy del professorTobiasKretschmer. Ludwig-Maximilians-UniversitätMünchen(LMU)
  • 23. Dr. Jorge Ramírez Medina Game scenario Players –BitCoin, Silver Dollar Actions –High prices, –Average prices –Low prices Rules –Simultaneous decision making Adaptado del curso Competitive Strategy del professorTobiasKretschmer. Ludwig-Maximilians-UniversitätMünchen(LMU)
  • 24. Dr. Jorge Ramírez Medina Game scenario Reward (Payment) Case of Bitcoin average price and Silver Dollar high Price Then Bitcoin sells 300 loyal customers, plus 400 who go for the lowest price (300 + 400) * 100 = $ 70,000. Silver Dollar Sells 300 loyal customers. (300) * 120 = $ 36.000 Adaptado del curso Competitive Strategy del professorTobiasKretschmer. Ludwig-Maximilians-UniversitätMünchen(LMU)
  • 25. Dr. Jorge Ramírez Medina Matrix BitCoin Dollar High Average Low High 60/60 36/70 36/35 Average 70/36 50/50 30/35 Low 35/36 35/30 25/25 Adaptado del curso Competitive Strategy del professorTobiasKretschmer. Ludwig-Maximilians-UniversitätMünchen(LMU)
  • 26. Dr. Jorge Ramírez Medina Dominant strategy 1. A strategy that always works better than any other strategy. 2. Because of that, this is always the of a rational player’s first option. 3. A rational opponent plays to select the dominant strategy. Tomado del curso Competitive Strategy del professorTobiasKretschmer. Ludwig-Maximilians-UniversitätMünchen(LMU)
  • 27. Dr. Jorge Ramírez Medina Dominated strategy 1. A strategy that never works better than any other strategy. 2. For this reason there is the option of a rational player. 3. A rational opponent never plays to select the dominated strategy. Tomado del curso Competitive Strategy del professorTobiasKretschmer. Ludwig-Maximilians-UniversitätMünchen(LMU)
  • 28. Dr. Jorge Ramírez Medina Solving Identify dominant BitCoin Dollar High Average Low High 60/60 36/70 36/35 Average 70/36 50/50 30/35 Low 35/36 35/30 25/25 Adsaptado del curso Competitive Strategy del professorTobiasKretschmer. Ludwig-Maximilians-UniversitätMünchen(LMU)
  • 29. Dr. Jorge Ramírez Medina Solving Identify dominant BitCoin Dollar High Average Low High 60/60 36/70 36/35 Average 70/36 50/50 30/35 Low 35/36 35/30 25/25 Adaptado del curso Competitive Strategy del professorTobiasKretschmer. Ludwig-Maximilians-UniversitätMünchen(LMU)
  • 30. Dr. Jorge Ramírez Medina Solving Identify dominated BitCoin Dollar High Average Low High 60/60 36/70 36/35 Average 70/36 50/50 30/35 Low 35/36 35/30 25/25 Adpatado del curso Competitive Strategy del professorTobiasKretschmer. Ludwig-Maximilians-UniversitätMünchen(LMU) No Dominat Strategy
  • 31. Dr. Jorge Ramírez Medina Solving Identify dominated BitCoin Dollar High Average Low High 60/60 36/70 36/35 Average 70/36 50/50 30/35 Low 35/36 35/30 25/25 Adaptado del curso Competitive Strategy del professorTobiasKretschmer. Ludwig-Maximilians-UniversitätMünchen(LMU) No Dominat Strategy
  • 32. Dr. Jorge Ramírez Medina The key
  • 33. Dr. Jorge Ramírez Medina Class exercise
  • 34. Dr. Jorge Ramírez Medina Modeling Business Decisions Business Process Model and Notation (BPMN) is the global standard for process modeling. You have to use a BPMN standardized symbols in order to align the meaning of symbols and their attributes.
  • 35. Dr. Jorge Ramírez Medina List process steps 1. Decide which business process in your organization you'd like to diagram. 2. Then record each step that occurs in that process. 3. Make sure to take into account all factors, decisions, and possible relationships that contribute to the workflow.
  • 36. Dr. Jorge Ramírez Medina Class exercise, Lucidchart 1. Start with the first event. For example, you might be representing a process triggered by a customer's actions. 2. In this case, the customer's initiation of the process is the first event. 3. In Lucidchart, you can simply drag a Start Event shape from the toolbox to the canvas.
  • 37. Dr. Jorge Ramírez Medina Class exercise, Lucidchart 4. Draw lines and add symbols to build out the rest of the process. To ensure that you're covering every step, consider questions like, • What happens when the customer initiates this process? • How do the customer's actions affect other parts of the organization, like the help desk or the sales department? • When do other factors and people enter the flow? Which options or new paths do they provide?
  • 38. Dr. Jorge Ramírez Medina Class exercise, Lucidchart 5. BPMN diagrams can become unnecessarily complicated when they are disorganized. 6. While BPMN has many symbols and options, it's still possible to create an attractive, easy-to-read chart. 7. Generally, the main process is aligned horizontally, with associated symbols added vertically. 8. Keep your formatting preferences consistent, since unnecessary fonts, explanations, or colors can be confusing. 9. Try to add new elements only if they add to the overall understanding of the business process.
  • 39. Dr. Jorge Ramírez Medina Class exercise, Lucidchart
  • 40. Dr. Jorge Ramírez Medina Modeling Business Decisions. KPI
  • 41. Dr. Jorge Ramírez Medina End of session

Editor's Notes

  1. http://en.wikipedia.org/wiki/UEFA_European_Football_Championship Year & Final Winner (Country) Nombrar Query
  2. Identidad Digital
  3.  1 de julio de 1944, la localidad de Bretton Woods, los acuerdos, entendidos como un sistema internacional de regulación del capitalismo, 44 países participantes -una cantidad nada despreciable si se tiene en cuenta que la mayor parte de Asia y África eran colonias europeas y que Europa se encontraba partida- la conferencia fue un éxito de EE UU. Este país consiguió imponer su propuesta, formulada por el economista Harry Dexter White, ante la iniciativa británica, cuya paternidad correspondía al prestigioso John Maynard Keynes.  la creación del Fondo Monetario Internacional. De Bretton Woods también surgió el Banco Mundial Otra consecuencia fue la sustitución del patrón-oro por un patrón-dólar. Hasta entonces los países respaldaban las diferentes monedas nacionales con sus reservas de oro que, con el enorme gasto bélico, habían caído en picado en la mayoría de países. La conferencia de Bretton Woods estableció una equivalencia fija entre dólares y oro (una onza de este metal valdría siempre 35 dólares) con lo que la moneda estadounidense se convirtió en la divisa de referencia. Años después esta medida quedó anulada de facto puesto que EE UU, cuyo gasto era creciente a consecuencia de la Guerra Fría, no podía mantener la equivalencia.
  4. Digital (or crypto-) currencies are fascinating because they have the potential to disrupt existing payment systems (credit cards in particular), traditional money remittances, and perhaps even established monetary systems.
  5. Bitcoin’s first six years have been a roller-coaster, but by now the currency has achieved significant traction:.
  6. For instance, some of these start-ups perform some of the functions of, while other start-ups offer the Bitcoin equivalent of for merchants, and yet others aspire
  7. Consultar los documentos para las dos respuestas ; Si y No.
  8. Consultar los documentos para las dos respuestas ; Si y No.
  9. International remittances exhibit direct network effects: if my relative in Kenya uses Circle, then the value to me of using Circle is higher. Thus, the international remittances business is a more defensible business than a wallet-with-enhanced-features business. Note, however, that these network effects are moderate: two relatives might find it more convenient and possibly somewhat cheaper to use the same digital wallet service, but they could use different wallets and still be able to send and receive bitcoin to one another across borders In contrast, the alternatives available for peer-to-peer payments (PayPal, check, cash, ACH) and for consumer-merchant transactions (credit cards) are more competitive.
  10.   . For instance, if an international remittance provider has 10 million users, that is irrelevant for any new user unless it also has the two or three people that user wants to send money to (e.g. aunt or grandmother).
  11. https://www.lucidchart.com/documents/edit/ca587d86-fd76-4f80-8f8c-f7c6cd1b9f57?demo=on#?