Clear Junction's report, *Transforming Value*, envisions a future financial system that integrates traditional banks, permissioned platforms, and public programmable networks. The report highlights the current use of programmable money, such as stablecoins, in real-world applications like cross-border payments. It suggests that the future model will not replace existing systems like SWIFT but will integrate them with new technological rails. The report emphasizes the need for financial institutions to adapt to regulatory differences and develop control mechanisms across all channels to remain competitive. It poses critical questions about the role of programmable money in this evolving financial landscape, urging institutions to consider how they can leverage these technologies effectively.