 Good morning, everybody. Welcome back for the second day of our fintech conference. I'm really excited for another great day of Panels and conversation. I Like you learned a lot yesterday And I am very pleased that we can start our second day With a guest appearance By our and executive vice president for academic affairs Martin Philbert Martin and I both started in our new gigs this year In August and it's been just a delight to work with him And Martin when he's not Serving as the chief academic officer of the University, which is just a little a little job Running 19 colleges and units around campus Martin is a professor of toxicology. He is the former dean of the school of public health He's an expert in nanotechnology And he is done really exciting and innovative work on policies related to differential toxicology on the basis of Demographics, so He's a serious guy We are Delighted to have him here to welcome you to the second day of the conference and please join me in thanking Martin Philbert for joining us today Thank you Michael. That was part who kind And just before I start with my formal remarks if anyone can help me understand the value of cryptocurrency and running a University I see you outside at the end I'd also like to thank the United States Office of Financial Research for its support in This third annual gathering I want to note with appreciation the contributions of Michigan faculty from at least six different disciplines and Salute the staff at the Center on finance law and policy and in the Ford school and in the law school for attending To the concerns large and small That make this conference a success It's a pleasure to add my welcome to those you've already received I Understand that yesterday's program included stimulating addresses and productive discussions all at the nexus of financial policy and technological innovation Having conference participants from several sectors of the economy has surely led to interesting conversations that mix policy and practice We are pleased that this gathering is being held here at Michigan The university has a long-standing commitment to bringing interdisciplinary expertise to bear on complex challenges disciplinary knowledge is critical to defining exploring and understanding a problem But interdisciplinary work is key to moving forward to solutions The parable of the street light is often cited and sometimes oversighted by academics But I think it's useful as an illustration here the story When told about economists and at least in England we refer to them as inebriated economists Can be told about sociologists biologists or philosophers goes like this a Policeman is out patrolling one night and comes upon The economist in whatever state they may be searching the ground under the street light The policeman asks what are you doing here? Looking for my keys the economist replies. I dropped them on my way home policeman drops to his knees and aids in the search and after Quite a few minutes of elapsed the policeman turns to the economist and says are you sure you dropped them here? Have no idea came the reply. I know I dropped them somewhere between here and the office So the policemen says what why are you looking here to which the obvious reply came back the light has better here The street lights are like disciplines. They illuminate they illuminate defined areas and sometimes well-trodden areas But many interesting questions lie beyond the circle of light between the areas illuminated by disciplines and So we turn to interdisciplinary work a Scott Page a faculty member here in political science Economics and complex systems are shown work drawing on the knowledge of a diverse group of experts is generally far better than work done by experts with similar backgrounds in His book the difference page suggests that progress and innovation depend less on brilliant individuals acting alone and more on diverse groups working together Building on each other's strengths He argues rather convincingly and with data at hand the groups with a range of perspectives outperform groups of like-minded experts As dean of the School of Public Health I learned very quickly and developed a keen appreciation for the value of diverse perspectives Indeed progress in the field depends on them your agenda throughout this conference includes time to consider the delicate balance between research and experimentation and policy My own experience as a toxicologist working in nanotechnology involved similar work How we move from bench science to appropriate public policies on the use of new technologies was the question that we addressed It's critical to have room for innovations in any field, but we have also a responsibility To consider larger questions of public good as we move towards the application of new knowledge Thank you very much for your attention. Thank you for being here. It's a privilege To have you here at the University of Michigan I look forward to hearing great things about this conference and as always go blue