Session 2 - RBC Mobile Wallet

Terms tested:

• Digital Platforms
  • What is a digital platform?
  • What kinds of disruptions happen for digital platforms?

A platform is a structure that enables interactions between two or more distinct groups and sets the rules by which they interact.

A digital platform is a platform that uses digital technologies to scale, automate, and govern interactions among participants.

Bitcoin counts as a digital platform.. all blockchains are

Platform Disruption refers to situations where a platform-based business model fundamentally reshapes an industry by:

• connecting multiple sides
• Leveraging network effects
• Shifting competition from products to ecosystems
• Changing value capture, governance, and control patterns — dramatically

Classic Disruption refers to situations where a new entrant introduces a simpler, more affordable, or more accessible product or service that eventually displaces established competitors.

Could a disruption be both platform and classic disruption? Yes.

Everything is innovative, but disruptive innovation is another extreme. Always make your judgement. Just like how Platform and Classic disruption is on a range.

So is Mobile Wallet disruptive innovation? I don’t think it’s even a disruption. They are innovative, but are not disruptive.

• They improve convenience, speed, and user experience, but largely build on existing payment infrastructure (same value chain)