Published: 01 July 2024
Money is a form of bookkeeping that is underutilized by financial services companies. This research presents a view of money as a utility, and challenges financial services leaders to rethink the way they move it. By thinking differently, they can offer cheaper money movement and lending services.
This Maverick research contradicts the prevailing wisdom that moving money has a cost associated with it. Its findings and advice should therefore be treated with caution.
The future of money is not decentralized finance but centralized fiat currency that is leveraged by financial service firms.
Financial services companies are attempting to monetize payments by charging fees for them. This is leading to a fragmented market where businesses invest in layers of technology to minimize the cost of getting paid.
Stablecoins and other privately issued digital assets do not preserve their value and are unsuitable for smart contracts.
Banks have
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