What does every successful start-up, venture capitalist and savvy designer know? It’s that “value exchange networks” have the power to ignite massive human potential to grow business and delight consumers through connected services. If you’ve checked in with Foursquare, rated a seller on eBay, or answered a question on Quora, then you’ve participated in a value exchange network. So what are value exchange networks? They are networks in which the value is co-created and exchanged in a decentralized and distributed way by all participants – consumers are transformed into creators, promoters, problem-solvers, and even co-owners. Today most industries are being transformed by leveraging these value exchange networks. Services are shifting from an era in which companies created and delivered monolithic offerings to passive consumers, to an era in which services exist as networks of value co-creation. In this new landscape, lines separating consumer and company are dissolving, and companies are acting as enablers of value creation, discovery, and exchange rather than solely creators and distributors.
From a design perspective it means service design must evolve into networked business design – enabling all actors to gains trust in other participants and the system itself; encouraging the creation and sharing of valuable connections, resources, knowledge, and capabilities; and recognizing and supporting people’s short- and long-term goals so that networks are vibrant and businesses are truly sustainable. We will share:
• The potential of value exchange networks
• Several disruptive industry examples
• The building blocks of value exchange networks
• Principles for designing value exchange networks.