 Welcome everyone to the April 14 capital market special interest group mortgage subgroup update that is a long title. That's a mouthful. Yeah, definitely. We are excited to have everyone here we do have a lot of things that we wanted to talk to everyone about, but we just wanted to welcome everyone we are doing this meeting from Las Vegas Vegas baby. This is at the MBA tech conference that this has been a pretty interesting conference so we'll provide you guys some insights on that from our team and also hopefully from some of the other participants as well so welcome everyone and let's just go ahead and dive right in. Before we start on this presentation, we want to make sure that we let everyone know that this meeting is being recorded. It's under the umbrella of the hyper ledger foundation so we asked that everyone abide by the antitrust policy which is up on the screen. The antitrust policy states that we avoid discussions of company specific pricing products and projects. We don't make negative comments about other companies or products. Also, the code of conduct. I don't have that on the screen but the code of conduct for hyper ledger states that we treat each other with respect, never discriminate and communicate constructively. We support hyper ledgers policy of openness equity and inclusion, and for new participants because I do know that we do have a couple new participants. We welcome you if you'd like to introduce yourself in the meeting chat. Please say hello, let us know if there's any areas of interest you would like to cover and just overall welcome. Okay, here is the agenda for today's meeting. We've gone through the welcome meeting housekeeping will walk through some hyper ledger community information. I'm going to burn that pretty quickly because this is information we like to carry from meeting to meeting James is going to walk through a state of the blockchain in the global mortgage industry. This is a discussion of blockchain at the MBA tech conference where we are presenting at right now. We'll go through future denda topics and then Q&A at the end. We always start off with this slide whenever we go through this because we want to emphasize the fact that we're all on a blockchain journey. If you're on this call, you're somewhere along this path, you may be looking at different technologies. You may already be building a blockchain application. You may be looking for customers for your blockchain app. So we just wanted to underscore that we're all on the same journey. We just may be at different points along this path. The intent of this group is intended to help everyone on their blockchain journey. And our goals demonstrate the feasibility of blockchain technology to mortgage industry use cases. And the potential implementation path for the mortgage industry. And what does a mortgage company need implement blockchain and how difficult is it implement blockchain. Some community information for the new members and as I said I'm going to go through this pretty quickly. Here's a site map and some key links for people that are new to this group, the Linux foundation, the hyper ledger foundation which falls under the hyper ledger foundation. I'm not going to go through all of these but I do want to call out the link to our specific mortgage subgroup. This is the second one from the bottom. This link will get you to our wiki you can get to previous meeting notes to some of the information research information that we've identified in the past, and we'll cover this. Next slides I'm just going to go through very quickly how to create an LF ID to be a part of the subgroup you need to go through this process. I'm not going to go over it. Watch the video. This is a very easy process. Here's some blockchain training. This is free training that's provided by hyper ledger. I think it's very good. It gives you a good understanding. If you're new and need an understanding, please go through this or also reach out to us. We'll walk you through some of this stuff. We're always willing to talk about blockchain and the team knows I can drone endlessly on blockchain. Okay, well with that I'm going to hand it over to James. He's going to give you an overview of the state of the blockchain. Thank you very much. You're always entertaining. Let's go ahead and jump into the first slide Marvin. And so here's just a reiteration of, you know, the timeline of some of the articles we have previously posted since we started these meetings up last year. Looking back in the global space back in 2018, you had a variety of things that were going on in China, Hong Kong, Russia. Really, as you started to get into the last year or two is where we've seen a lot of traction, both at the global level as well as the US level. You know, some of the interesting things we do have all of these articles available on our wiki site. And some of the articles like we previously talked about Redwood Trust announcing the first non-agency residential blockchain MBS, a couple meetings back. We actually met with Fred Matera yesterday from Redwood Trust, he actually did one of the presentations that Marvin's going to be talking about a little bit later. So here in 2022, some of the articles that we've been talking about coming out of Canada, NFTs meet real estate. The state of the blockchain 2021 global data that one is a fantastic white paper it too is available on the SIG site. And then, you know, in the USA space, talking about the introduction of the USDF consortium and the first crypto mortgages being launched. Some of the articles I'm going to talk about today come out of Infosys, great white paper on the metaverse, JP, or excuse me, JP Morgan, talking about the metaverse Infosys talking about digital transformation. And here in the US, I've got a couple ones that I want to talk about relevant to, hey, looking at mortgages from an NFT perspective, as well as found a great article on a variety of new startup companies that are jumping up in the Washington area. And we'll talk about those in just a slide or two. Next slide, Marvin. There we go. All right, so coming out of Infosys, they had a fantastic white paper they did it on the global level or study of blockchain in the industry, where are companies in different industries heading, kind of give you some of the insights, the key findings. So, of the mortgage providers that responded 69% of them say that their profits have increased from previous years. So even through the pandemic, they're continuing to be profitable. Post pandemic, the lender say they're starting to prioritize diversification, focus on customers and financial outcomes. 92% of the group claimed to have at least doubled their pace of digital transformation this last year, with 20% of them reporting to have quadrupled that base. And as we all know the more digitally transformed the mortgage provider the greater likelihood of increased profitability. 87% responded back having strong positive sentiment about the industry's ability to transform the customers needs. The biggest issues are insufficient budgets lack of partnerships, only 4% of respondents coming back actually claimed to be fully digital at this point. 85% of those responding do plan on upgrading their technology with nearly 90% talking about making investments in IoT and blockchain over the next year. Respondents who felt their organizations are well equipped to meet these changes for consumer needs are definitely more likely to invest in digital transformation projects. I actually saw a lot of that discussion going on here at the conference this week. We do have this full white paper available under our industry industry research section of the wiki site. So I do encourage go in take a look at it again is from a global perspective. They do have it broken out by industry they have it broken out by country but just some fantastic information to see what's going on out there. Again also in February, they announced they're making a giant leap into the metaverse. So they released a white paper on the metaverse in February estimating that the virtual realm might represent a 1 trillion yearly market opportunity. They've already built a lounge in the central land, it's a blockchain based virtual world. And their lounge that they set up called on X you can actually see a picture of it on the site here. On X is the first global bank to offer a blockchain based platform for wholesale payment transactions mortgages rental agreements loans might all become a reality in the coming years according to JP Morgan. In white paper they noted the average price for a plot of land in the metaverse has been steadily on the rise in the second half of 2021 virtual real estate costs, nearly double climbing from an average of about $6,000 a month month all the way up to $12,000 excuse me $6,000 applied all the way up to $6,000 by the end of last year. A lot of other organizations to have been jumping on this. Mark D'Angelo last month did a great presentation talking about the metaverse. If you haven't had the opportunity to see that go to the wiki site we do record all these sessions and then post them up there afterwards, but highly recommend taking a look at that one. The other organizations outside of mortgage that are jumping into the metaverse include companies like Adidas Atari gap who Nike Walmart horizon just to name a few of them. So you can see the metaverse is actively growing and companies are taking a you know very serious focus on what the future of the metaverse and profitability will be. The last November grayscale which is a digital asset management company actually. Yeah, stay on this one Marvin digital asset management company. They also published a similar estimate for forecasting the metaverse could be a $1 trillion market. While Goldman Sachs actually disclose they think the space is going to be worth several trillion dollars over the next couple of years. The paper also is available under the blockchain information research section of the wiki site so if you'd like to see the details on it, please do go take a look. So moving over into the US sector. The mortgage lender loan snap recently announced they had minted the first NFT mortgages in existence using their bacon protocol to wrap seven mortgage leans into tokens collectively worth $1.5 million. According to loan snap the benefits include lower mortgage rates faster loan approvals and greater flexibility around, excuse me, around repayment terms. As we all know on this call blockchain can permanently record information like applicants credit scores the debt to income ratios home values, where those need for verification through middlemen can be eliminated. In turn that reduces the cost and time involved in the lending process. Financial regulation and capital requirements has historically made it virtually impossible for everyday individuals to get involved in the mortgage, the mortgage industry. This leaves only the financial institutions and the government to soak up what's considered to be one of the lowest risk and consistent yielding assets asset classes available. So tokenizing the housing debt eliminates many of these barriers to entry potentially making it possible for anyone with a defy wallet in the future to own a fractional share of a mortgage. So it'll be interesting to see where loan snap goes with that and as other mortgage lenders start to take a look. If they jump on board as well but it really opens up a lot of new investment opportunities to the average consumer. I got on here Seattle is really growing. A lot of startups have been starting to show up. The Seattle region has actually become home to several new companies developing a variety of products and services related to crypto digital currency blockchain distributed ledger based technologies. Web three blockchain based internet some quite a bit's going on in that that area well, well this article the list is not exhaustive of all companies it does represent 18 different startups, including information about the year founded what is the company doing, who's the CEO and what was their background before starting the company, along with links to their website and related articles about the company. And then taking a look at it start to get familiar with some of these companies because, you know, some of them are apt to become big players in the industry. Another interesting thing that the article talks about. It discusses the fact that in Washington State last year, they launched a new center for fintech information to help facilitate communication between the fintech department, developers startups, other fintech companies really starting to get into a little bit of, you know, regulation and preparing for that. The Center for fintech it's gathering licensing guidelines, regulations trying to incorporate them all in one place for use by all of these different organizations. We anticipate over you know this year the next couple years, you're going to see a lot of that starting to pop up in a variety of different states as well as the federal level. So I encourage everybody to take a look and read through the articles to learn more about these startups and the direction that we're starting to see from a regulatory point of view. The next slide, Marvin. Just a reminder, this is the CMS IG Wiki site over on the right hand side is where the global mortgage industry research is all of your newer articles you're going to follow over there, including the ones that we talked about today. Over on the left hand side there in the middle, you're going to see links to not only this page you're going to see links to all of our historical recording so please go take a look there, as well as our previous articles that we have discussed. And post it on a separate page as well. Down at the bottom you'll see the URL for the Wiki actually just posted it into the chat again. So if you get a chance click on that link market as a favorite and then you know as Marvin indicated, follow the instructions we'd love to have you sign up so that you start getting notifications whenever we're adding new content, or as meetings we come up and available. I'll pass it back over to you Marvin. Okay. Thanks James. On to our next section. Okay, Vegas baby. I promise Angel I'd say that but I probably had already too much coffee in. I think this has been a great conference. This has been one of the first mortgage technology conferences in a while since the pandemic started so we're really excited to attend this. And as the meeting invitation noted that some of us are actually still here so in this portion of the presentation, we want this to be an open discussion about how the mortgage industry, at least the attendees of the conference view blockchain, and we'll walk through some of the thoughts from that conference. Okay, the are during the course of the conference we collected comments from speakers solicited opinions from attendees on what they thought about blockchain. This slide depicts just a sampling of those comments. We got pros we got cons just starting off with the cons. We've heard a lot of these criticisms before blockchain still fragmented fancy word for database. One point that I thought was really interesting. And we heard something similar to this in the actual mortgage MBA conference that was held in San Diego in October. A lot of companies have built a small blockchain for single transaction, and then stop. I think this is just indicative of where we're at in the lifecycle of blockchain. But now switching over to the left hand side. Now people seem to think now was the time for blockchain just that last bullet, one comment that really opened up my eyes and got me excited. Everyone needs to get together and build a blockchain. We heard people say blockchain blockchain blockchain, someone specifically said the futures blockchain. So I think if you're on this call and you're excited about blockchain as I am. I think this really bodes well and it said, it tells me and hopefully tells all of us that momentum is really starting to build. Angel James was there anything you wanted to add to that. You know, Marvin, you've got some great points. You know, I reflect back on October being at the MBA conference, and you heard blockchain being mentioned, you heard people talking about it. You know, granted, it's the first time that community had gotten together in about a two year period because of COVID. We weren't hearing a, you know, a tremendous amount of it. Then we were really having to go out and talk to a lot of the exhibitors and a lot of the presenters in order to find out, you know what they're doing or what their thoughts are relevant to distributed ledger technologies. This conference now granted this is a tech conference so it's a you know a little bit different format, but it has been consistent. We have almost every session that I was in somebody was mentioning blockchain asking questions about blockchain. As we walked around the exhibit at Paul floor, you know, a lot more active discussions going on, and still not a lot of movement or advancement. In fact, one of the sessions that we sat in the visions of future of residential mortgage lending, a very well attended session in fact it was standing room only there was well over 100 people and just the, the one session. They were talking quite a bit about blockchain in that one and some of the benefits that we're seeing and potentially can achieve in the industry. But they asked a very interesting question at the end, which is how many individuals in the audience actively were involved in an actual blockchain chain project. And there was maybe four or five of us in the room that raised our hands saying that hey we actively do have something going on so while we're starting to hear more discussion about it. The traction is still a little bit slow to take off. And you know I think your point on the cons Marvin about how a lot of companies went out there okay let me find out what blockchain is. They try and build something and they build it for us one transaction or two, and then they never take it anywhere else. It really needs to be taken to that next level so that you can see and achieve the benefits and the values that will come out of blockchain. Yeah that's, that's great feedback. Hello everybody my name is Angel all bond. I just want to share a little bit. This is more a public service announcement so the mortgage bankers of America is our association in the United States. Remember, definitely get involved. There is a committee that's called the residential technology forum, also known as res tech. So we were at that committee meeting on Monday with all the peers and all the technology and all the, the people that are driving that committee and trying to drive innovation standards, positive changes to the mortgage industry. And we had presented a proposal to start the conversation of blockchain in that committee meeting. That was approved through a series of meetings at the conference so I'm excited to say that going forward the rest tech committee meeting at which is part of the NBA. And if you're a member, you can email Rick Hill, our hill at mba.com, or you can go to the mba.org website and find the residential technology forum and sign up. We are going to be having a three part series, you know, we're going to start off with the very basics right kind of a primer. What is blockchain right let's just get everybody to understand what blockchain is. We're going to part two is going to be who within the mortgage industry ecosystem is doing blockchain. Right. How are they doing it. What's working. And can anybody in the audience or in their community help them. Right. So what we want to do is take a supportive approach. A lot of us are competitors at a lot of different levels but we're all we're all part of this ecosystem. We're all part of the housing fabric part of the housing industry. And so this is a very innovative technology that's very transformative. And if we can help each other that that's going to be very very positive for for blockchain and our industry so we got that commitment so that's really really exciting. The third part is really going to be, you know, hey, if there is a technology out there that is working in some shape or form, let's bring it to this committee. Let's put it in front of them let's do just a short demo. And let's just start getting people to think about blockchain, seeing blockchain in action to help drive that that evolution and revolution of blockchain. So I wanted to give you guys that update I'm really excited. I'm really excited about the industry first. And it's going to help out the entire global industry as well and also help our efforts here at the hyper ledger foundation. And actually, yeah, and I'm really excited that Rick Grant is here so Rick I'd like to get your thoughts on on on this on what we're talking about what were your takeaways from a blockchain perspective at the end. And thanks for having me guys. I don't know if you can hear me very well I'm actually in a stairwell in valleys in Las Vegas because well too long to say my desk is littered with notes from this conference it was one of the best shows I've been at in. Well we haven't been at any shows in the last two years so it's best show I've been in a long time. It was great sitting down with you Marvin was great seeing you at the show angel. I saw at the end, I should preface this for the fact that I'm an old reporter so I've covered this industry since 97 I've been at a lot of NBA tech shows over the years. And this was one of the better ones. A lot of people were telling me that they were actually sitting down with lenders and actually making deals at this show, because lenders have definite needs now and they have the wherewithal to really invest and that's exciting. Don't know how long that's going to last, given what the NBA estimates for the next couple of years are but at least the next 12 months, it should be a kind of a target rich environment for people that are bringing good useful technologies to bear on our industry. And that said, a lot of the conversations I was involved at this show were still, still talking about technologies that we've had for many years, and only recently, fully utilized during the COVID crisis. So, eSign, eClose, eNotes, things that we've had access to for years are now getting a bunch of attention that they probably should have gotten attention a long time ago. The good news with that is that it's that all of those technologies are precursors to blockchain and the use of blockchain. And so getting lenders completely comfortable with normalizing their process with these tools that they've really had to get used to during COVID is great, going forward. But the vendors I talked to on the floor were excited, the speakers actually provided better information than I anticipated, and I just have so many notes to go through to get all my thoughts straight. But that's the exciting part of these conferences for me is gathering up all that information. So a good show for anybody who was here. You know, Rick, you've got some great points. I had attended the how trends intersect in today's changing industry. And it was kind of fascinating when you look at things like Ron and eNotes and eClosing and things like that and they were showing year over year the percentage of closings that were occurring. And you start to see some of that the real growth for years. It was just a very small amount. You start to see some of that growth start to occur in 2019. But then in 2020, it probably quadrupled. And in 2021 it probably quadrupled again on top of that. So, yeah, the pandemic really did have kind of a positive impact for our industry, relevant to, you know, digital transformation and moving things online and getting away from wet signatures and all the heavy paperwork that we've been so used to. No doubt. No doubt James, it was a fantastic catalyst and it forced many of the players who had been resisting for a million reasons they thought were good to actually take the jump and implement the technologies that it took to be competitive during that time. So that was really good. And the year over year charts do look incredible they're so eNotes for instance just a fantastic jump, but when you consider that of all the notes sold last year or 2021 only about 7.5% or eNotes, we realize we have a long, long way to go, but we're getting there faster than we've ever been before. And what stood out in my mind for this session is several of us went to the NBA conference in San Diego in October and the mindset around blockchain was completely different at this session than it was at San Diego. In San Diego, it was more keeping us in blockchain at arm's length. We don't know where this is going to go. Oh, is blockchain still around. Whereas here, once I handed my card to someone and it said blockchain on it. They wanted to talk to me they wanted to find out what was going on blockchain but we were doing what other people were doing. It's really starting to come to the fore. Absolutely. And I think Marvin you're going to see even more of that later this year in the fall conferences and particularly NBA annual this year, where we tend to see a lot more of the CEOs and attendants not just CTO CIO is the people that we see here a lot. I think those people are going to be very interested in talking about where blockchain is later this year. Absolutely. And I also want to underscore that the level of dialogue has gone up a level and by that I mean in San Diego people could barely spell blockchain. Now in some of the sessions people were saying what's on chain what's off chain. We want this to be blockchain platform agnostic. That's a much higher level discussion than what I was hearing what I was being a part of in San Diego so I think that's a fantastic development. Yes, absolutely Marvin and some of the people on this call you guys in particular and also I know Paul both hands on the spoke, you guys are partially responsible for that because you've been demonstrating solutions that can be implemented into the overall mortgage value chain. It's now a matter of tying those together so top executives can see strategically where this will take their companies in the future. Excellent. Is there anyone else on the call that's at the NBA conference that wanted to chime in provide input or feedback. Okay, well let's continue on to the next slide. It's more discussion about the NBA tech. I wanted to drill down on a specific session in Rick you talked about e notes and the session that really stood out in my mind here was the smart docs versus smart contracts. When I saw the title of this session. I fully expected this to be a UFC brawl about these guys just absolutely going at it smart docs know smart contracts. And first let me back up the speakers for this session were Brett Bodie from mid America mortgage, Charles Epperson chief technology officer for evolve mortgage services and Fred Matera from redwood trusts. So some of you may recall that redwood trust is the read that announced the pricing of the markets first non agency residential mortgage back securitization using blockchain in concert with liquid mortgage so you had a heavyweight panel, going over this What really surprised me was rather than this being that, you know, battle galore. The speakers were able to present smart docs and smart contracts as complimentary, rather than as competing solutions in Rick you, you talked about you know I'm not sure if you said in on this that you may have any thoughts on this session. You know I had a meeting during that session I couldn't see it so I'm looking forward to NBA putting it up on their apps so I can watch it later before it expires. No, I really didn't get to talk to anybody about this some of my clients are in the e. In the document space, and they've enabled all of their documents, but how they actually end up on the final contracts with the notes and the deeds I haven't really been in my spending discussions about that. What really stood out to me is the point that you made about e notes and how, how usage of e notes is increasing. So, as you guys can see, e notes is based on the MISMO V dot 3.6 XML protocol versus smart contracts their program stored on a blockchain. And I think everyone's probably pretty familiar with those, rather than being competing solutions as I said, there, there was no conflict they're complimentary. James Angel, did you guys have any comments on this one. You know, I agree Marvin, I attended this session with you. I was thinking the same thing that it was going to be. Hey, what are the pros and cons of doing each one of these and they opened up the session right away to talk about that versus not really being a versus it's really the fact that hey tying both of these technologies together as we move forward is really where the big benefit is going to wind up. Yeah, my takeaway from this meeting was the fundamentals of blockchain right establishing the truth getting as close as you can to that source. And if smart documents can be leveraged for that or leveraged for validation prior to writing to the to the to the block to the blockchain. That's, that's what I took away was that they realized that there's a lot of data that's flying around. It all depends what use case, you know, are you originating alone. What are you doing due diligence on alone to retrade and resell right so there's a lot of exchange of information a lot of revalidation, a lot of repolling of services, and a lot of those documents today are being delivered in smart doc format. So, why not leverage it as part of your blockchain solution so that was really my big takeaway. I thought and I found I found that exciting. The last point that I wanted to mention on this is there was a very active Q&A session at the end of that I asked Fred, what his thoughts were around some of the ongoing criticisms about blockchain in terms of latency in terms of cost of operating, and he gave, I think a very cogent answer that, at least from Redwood trust's perspective and it should be from everyone's perspective they should try and be blockchain platform agnostic to the extent that we as an industry, or can make blockchain turnkey that will expedite the uptake of blockchain, and also from profitability or excuse me ROI perspective, the business case that he provided from the value gained on the securitization far outweighs the cost of having a blockchain running in your enterprise so the details for this are we actually covered in a previous session, the white paper is included in our wiki link so I encourage you guys to take a look at that it's a great white paper, and it's a great use case for blockchain. And that brings us to the end of our presentation, what I wanted to do at this point was just remind everyone that our next subgroup meeting is May 12. If you have any suggestions for topics for May or any future meetings, please let us know business cases demos technical knowledge sharing. We're still trying to actively get one of the regulators on here this is one thing I forgot to mention. So, there were numerous questions to the regulatory people that were attending about what they thought about blockchain, and there is an active effort to get the regulators involved into a pine on blockchain that they're doing things in the background there's still a bit hesitant to share but hopefully we'll be able to bring something along those lines to you guys in the future. So if there are any topics you guys would like to talk about, please let us know. And with that, I wanted to open it up to everyone. If you guys have any questions about what we've been going over about the conference, please let us know. I'll go first. I don't mind. Yeah, I'm disappointed I couldn't be there we I had family things going on this week and I could not leave, but I've been getting it so I was talking to Fred Matera. And since everyone keeps talking on him said, you know, Fred, we're working with Fred at Redwood Trust right now, both on a proof of concept as well as. I can tell you that it's really amazing just just what Marvin was saying about how, you know, in San Diego, the people couldn't spell blockchain. It's definitely catching momentum now so we're all in a good position I think. I'm, you know, and you mentioned that the NBA national, you know, another conference coming up back in Vegas will be in July, if you want to talk about the secondary market, you know, the structured finance as big Vegas is July. I don't remember as I can I can post up the dates, but that's going to be a very interesting conference, not on the origination side so much but more secondary. I think that input Paul always great that to have you on board and it, I think you're one of the people that's really going to move blockchain so thank you. Thanks. Thanks, and you know it was nice to see Rick Grant here I didn't didn't know he was in the group that's good to see Rick. Sometimes they invite a strange guys just to see what you smart people are doing so. You fit right in. Don't worry. So I wish I was. But if you come July, if you come in July, I'll be there. I'm speaking at the conference as well. Okay, great. Great. Looking forward to that. Any other comments or questions from anyone else on the call. Even if it's not related to the mortgage tech conference, any updates on what you may be doing or questions around blockchain. This is Angel I just want to take the opportunity again another public service announcement. These cars are being recorded so if you're watching this highly encourage you guys to join the hyperledger foundation. There are all the links are available on this presentation. So if you're a technical team looking to how to get started, highly suggest that you go to the POCs. There's one called fab car FAB car hyperledger fabric it's a auto finance hyperledger fabric scenario. We actually did that one about eight months ago, and it was a great way to get started with blockchain to understand how to implement a blockchain how to set up the environment. How to set up blocks, set up the channels, learn about nodes. And, and then once you get, once you've mastered that you've set it up a couple times, then I challenge you to start modifying right and that's what we did we challenged ourselves, and we started to modify that that actual POC and changed it from an auto finance to a mortgage finance make it more mortgage finance and track, you know start start making changes so it becomes more real within from a mortgage perspective you know, an auto finance asset and a securitization, you know, there's a lot of overlap and commonalities right and, you know, you got to track the balance, you know the interest rate, the term the payments, you know so there's a lot of those fundamentals that run across from an auto finance to a mortgage but as you know in the mortgage industry, there's just so many details and processes and other data points and partners that you need to keep track of. And those are really, really important. So I highly encourage you guys for that on the technical team. And also, we are planning on having a technical meeting. It's going to be maybe once a month. So these meetings have been really, really for all all groups right not just C level, not just the technology guys the business guys the ops guys, we really want this to be a session where everybody within all parts of the organization can understand what is how it's evolving in our industry, how we can think about it, how we can prepare for it, and some of the feedback that we've gotten, and we're happy to answer questions on a technical level as well, you can reach out to us directly. But we do want to have more of a technical meeting have more a technical deep dive, you know share our screen show the sandbox show the show the blockchain. We can talk about the nodes and the channels and how those things are working. So we are working in that direction so if you definitely have interest in that, please let us know, you can put your email, or just say hey I'm interested in this chat, or you can reach out to us through the hyper ledger wiki site, once you join. Okay. Last piece I just want to share at a high level, coming to this conference. Last week was a big crypto event in Miami, Jamie diamond, you know, the CEO of JP Morgan Chase the largest bank in the US by asset size. He gave a huge, huge testament here and I'm going to bring up my phone because I want to make sure. So this is what Jamie diamond, right decentralized finance and blockchain are real new technologies that can be deployed in both public and private fashion permissions or not. Right. And so, Jamie diamond has a little bit of a bad rap of being anti crypto. Right. I think all of us here know that crypto and blockchain are two separate things so I'm not going to get into that right now, but this is a huge, huge endorsement or testament however you want to think about it. Jamie diamond. They have a huge group of JP Morgan Chase, they have link, they have their own JP Morgan coin. They just signed a deal with SAP in Europe, where they're going to be implementing JP Morgan coin and settlement blockchain trend technology to automate the payment and the settlement processes of all of the European industry who are using the SAP ERP platforms. So, huge, huge news that I wanted to share with you guys. And with that, let me turn it back over to Marvin. Thanks, Angel. And really, I don't think we could end it on a better note with that type of positive input. So I wanted to thank everyone for attending. And if you do have any questions or comments, please reach out to us either through the different links that that are on the screen right now, our individual emails are on the screen as well. But please, we want to be advocates for blockchain and make sure that we all go on this journey together. So, thank you for attending everyone. Have a great day. And I know some of us are probably hitting the slot machines or some of us are getting on flights, safe travels everyone. Thank you.