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we've done something with a Bitcoin exchange but so separate blockchain is technology could be used for multiple thing including cryptocurrency you could be used for digital dollars and there are digital dollars already like a lot of the dollars held in our bank or digital and so I'm not so separate the technology but I've said about bitcoins at countries former currency you have a wonderful currency when you form the nation in 1947 when the first thing you did is create a central bank with the currency and that currency is part of your national heritage because I'm the back has got you know the 17 and 19 languages of the languages here countries form their currency they like to control their currency so right now I say these crypto things are kind of a novelty people think they're kind of neat but the bigger they get the more government's going to close them down and the more and they're also used a lot for illicit purposes so you've seen China just go after them so that's why I've said and you can like or not like by my own view is that eventually government's gonna close it down they like to control the currency like to know who has it where it goes why it goes when it goes they'd like to see it and you know the cryptocurrencies the opposite so again you might not again I prefer digital you might have a crypto dollar I would prefer that than a crypto currency was not a fiat currency Soufan no it's just that you know ultimately all currencies are created or Austin air and York there is a central bank backing there is a sovereign backing but it is still critter or sinner and this currency at least has a stable quantity whereas other currencies backed by central banks have for detective I know but those central banks did that you're it says legal tender you have to take this as payment it's very cheap to do it's very easy to move back and forth we move JP Morgan moves six trillion dollars around the world every day very efficiently very quietly very effectively and very cost-efficient it's all digital money move around the world so you guys say what is the problem we're trying to solve and so again I'm not against the technology but but creating money out of thin air without having a government backing is very doing the creating money happy to going back in Guinea and like I said it is it's not unlimited so Bitcoin has that you know no more than 21 million so maybe that kind of does something there but there's a cerium there ICO their crypto currencies everywhere it's creating something out of nothing to me to me is worth nothing you think they could end badly that is that if you will in the other yeah oh okay and then oh and when governments when people lose a lot of money the government's gonna come down when people say they use it as an investment or it becomes too big where government say we want to control it now and I've had many people say well how can you control a Bitcoin very simple if I said there in this room if you buy yourself a bet the bias of the corner or a bet anywhere I'm gonna put you in jail it's over and so watch this could happen in China you know it doesn't mean people won't do it it just means you'll be the black market which is a whole different thing with six trillion dollars around the world every day very efficiently very quietly very effectively and very cost-efficient it's all digital money moving around the world so you guys say what is the problem we're trying to solve and so again I'm not against the technology but but creating money out of thin air without having the government backing is very doing the crazy money happy to go and backing me like I said where it is it's not unlimited so bitcoin has that you know no more name and you look there is a central bank backing there is a sovereign backing but it is still created out of thin air and this currency at least has a stable quantity whereas other currencies backed by central banks have for detective I know but those central banks that you're it says legal tender you have to take this as payment it's very cheap to do it's very easy to move back and forth we moved JPMorgan blue central bank with the currency and that currency is part of your national heritage because on the back has got you know the 17 and 19 languages of the languages here countries form their currency they like to control their currency so right now I say these crypto things are kind of a novelty people think they're kind of neat but the bigger they get the more government's going to close them down and the more and they're also used a lot for illicit purposes so you've seen China just go after them so that's right we've done something with a Bitcoin exchange but so separate blockchain is a technology it could be used for multiple thing including cryptocurrency it could be used for digital dollars and there are digital dollars array like a lot of the dollars held in our bank or digital and so I'm not so separate the technology but I've said about bitcoins a country's former currency you have a wonderful currency when you form your nation in 1947 when the first thing you do is create as I said I mean you can like or not like my own view is that eventually governments going to close it down they like to control the currency like you know who has it where it goes why it goes when it goes they like to see it and you know the cryptocurrencies the opposite so again you might again I prefer digital you might have a crypto dollar I would prefer that than a crypto currency was not a fiat currency so no it's just that you know ultimately always currencies are created or
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