The Big Ideas

/The Big Ideas
The Big Ideas2018-01-30T04:00:45+00:00

In Money We Trust

“Because of digitization, because of the internet, and because of the arrival of devices that can act on our behalf, suddenly we are facing this massive shift, 500 years in the making.”

Michael Casey, Senior Advisor, Digital Currency Initiative MIT Media Lab

Payments Deconstructed

Retailers no longer control the customer experience. They lost it when online started to happen. The customer chooses where, when, how, and why they buy. They can buy anything from any place, and they have perfect information
Thad Peterson, Senior Analyst, Aite Group

There’s an inherent volatility in cross-border payments as well as many regulatory issues.

Beric Farmer, Co-Founder, XE

Payments are going to play a huge role in IoT. We always think about payments as mobile wallets, but really we should be thinking about seamless payment experiences across devices

Nana Murugesan, Vice President and General Manager, Samsung Electronics America
Ultimately it comes down to data and insight, how the retailers can understand some of the purchase patterns and behaviors, and what is really relevant and meaningful for the consumer.
Sih Lee, Senior Vice Presdient, Payments Technology & Innovation, Synchrony Financial
Payments are interesting, but if you’re a retailer, you’re worried about the same thing you’ve always been worried about: How do you find the next customer? How do you make sure you can deliver a great experience?
Edward Glassman, EVP, Account Management, Mastercard

Never Talk to a Human Again

“Automated transactions have to be built on top of a foundation of analytics. Today, a large portion of our analytics are around the operations inside the enterprise. I see that really expanding to a retail perspective.”
Jeff Bender, Vice President, Diebold Nixdorf
“You’re always one click away from that next site, so creating a great consumer experience is now more important than ever.”
Matt Minoff, Chief Digital Officer,Meredith Corporation
“Every machine now has the ability to incorporate the payment at the point of sale, freeing up everyone on the back end to have more authentic conversations.”
Amelia Powell, Sr. Director of Marketing and Strategic Partnerships, USA Technologies

“There’s been a longstanding belief in our space that the only customers that want to use a [retirement investment service] are really young and beginning investors. We believed everybody would want something like this, a better customer experience, more transparent, and lower cost.”

Joe Ziemer, Vice President of Communications and Policy, Betterment

Sophia: A Robot Worth Talking To

I don’t want to develop these machines in a cage in a backroom server farm as aliens among us. I want them to inspire our love and to teach them the values that we most cherish, for them to better us ethically.

It’s so fascinating for me to see how different people react to different kinds of technology. I have so much to learn about human emotion and human reactions.

Sophia Hanson, Robot, Hanson Robotics

Convenience vs. Privacy in the Emerging Digital World

“‘Convenience vs Privacy’ kind of implies it’s either one or the other. In an idealized state, we’d like to have both.”

Tim Pawlenty, CEO, Financial Services Roundtable

Leaders in Digital Money

“Financial firms understand their client very well, but they don’t necessarily understand what the client is doing, how they want to interact with them, the kinds of tools and services…and they’re definitely making the investments that are pertinent to that.”

Chris Feeney, President, BITS Financial Services, Roundtable
“If you have to have a manual to understand a conversational interface, something’s wrong. You should just be able to say, ‘This service knows about your spending, go nuts.’”
Dr. Jason Mars, CEO, Clinc

“Blockchain fundamentally solves the issue of time and trust. These two constructs have massive impacts on the way we have created all kinds of markets and infrastructure systems.”

Nitin Gaur, Director of IBM Blockchain Labs, IBM
“The world of virtual, augmented, and mixed realities represents the next frontier for the consumer experience.”
Cleveland Brown, Chief Executive Office and Co-Founder, Payscout

Personalizing Transactions

There’s a fine balance between using data appropriately and overreaching.”
Derrick Carpenter, SVP - Product, Portfolio and Integrated Payments, Bank of America Merchant Services
“It’s up to the consumer. Whoever is earning that consumers loyalty and trust is gonna win.”
Dani Cushion, Chief Marketing Officer, Cardlytics
“In a world where everything is connected and more and more sensitive information is shared over the different communication channels on these devices, it is key that these solutions are secure by design.”
Charles Dachs, Vice President and General Manager of Secure Embedded Transactions at NXP Semiconductors, NXP
“Consumers have a lot of choices these days. I probably have a dozen financial apps on my phone, and there’s probably more that I should have and don’t”
Dan Tynan, Journalist, Improbable Ventures
“Time is the most precious resource our customers have. If we can get them to what they need more quickly, they’re happy.”
Scott Roen, Managing Director, head of Digital, BlackRock

Game of Coins

There’s a fine balance between using data appropriately and overreaching.”
Michael Terpin, Founder & CEO, Transform Group International

“2017 was the year 100 financial institutions signed real production volume, solving real customer problems.”

Asheesh Birla, Vice President, Product, Ripple
“For the industry, 2017 was the year of the ICO. In 2018 I predict we’ll start seeing companies issue equity and standard stocks on the blockchain, and the first world governments will issue their currency digitally.”
Jonathan Johnson, President, Medici Ventures Medici Ventures
“We have to fight for the utility token. Securities already have a well-defined test.”
Philipp Piper, CEO, Swarm Fund
“I love consumer-facing stuff. When you can store data securely on the internet and control your own identity, that’s super cool.”
Bill Shihara, CEO, Bittrex
“The social constructs we’ve created are that this is a security, this is a utility, and there’s nothing else out there. I think that’s wrong.”
Vinny Lingham, Co-founder & CEO, Civic

Cryptocurrencies: The New Asset Class

“The tokenization of things is upon us. This is well beyond money. Every layer of the internet, identity, securities, is gonna get tokenized.”
Matthew Roszak, Co-founder & Chairman, Bloq

Potential Hazards in the New Crypto Marketplace

“Fraud and manipulation must be expelled from the market. Without clean markets, innovations can suffer losses, consumers can suffer losses, and we don’t want that.”
K. Brent Tomer, Chief Trial Attorney, U.S. Commodity Futures Trading Commission

Moving Business to the Blockchain

“Video doesn’t need to live in the data center. It can live across the internet. Smart money can create a real time marketplace so the cheapest assets can get selected and used.”
Halsey Minor, Founder & CEO, VideoCoin Network

Machine to Machine
Commerce

“We know how to lend money to people or companies, how on earth do you lend money to a machine?”
Pindar Wong, Chairman, VeriFi (Hong Kong) Limited
“We should treat personally identifiable information like nuclear material: If you gather it in one space, bad stuff happens.”
Pindar Wong, Chairman, VeriFi (Hong Kong) Limited

100 Uses for a Blockchain

“If we can move the merchant and the consumer closer together by using a blockchain, we really start to create some interesting ideas around liquidity. This becomes really important for the underbanked.”

Tabitha Creighton, SVP iQmetrix Payments, iQmetrix
“I can see the valuable applications of blockchain, but I’m gonna call bulls*** on 90% of applications of blockchain.”
Andrew Vorster, Innovation Catalyst AndrewVorster.com
“There has to be some sort of way to coordinate all these devices, to take some small amount of value from the incremental change of your energy use, translate that back to other users, and facilitate a platform that everyone can trust.”
Scott Kessler, Director of Business Development, LO3 Energy