 Now many financial institutions are studying the topic, kind of, and I'm starting to understand that if you have permission and known and identified actors, maybe federated actors validating the chronology of the blockchain, they don't need proof of work. And many of them are also understanding that they don't need blocks because they can just sign every couple of transactions and they don't need a chain. So, when they understand that for the private blockchain they don't need blocks and they don't need chains, do you think it is worth the terminological battle for, say, for clarity to tell them, well, you are not doing a blockchain, we should strategically just leave it be, okay, you are doing the blockchain, I will keep the Bitcoin world. Wouldn't it be more honest and more useful for clarity just to stress how much a replicated multi-master database with digital signature without blocks and without chain is not a blockchain? You know, I don't really care about terminological purity, you know, defining the term simply to enforce purity of action and say, you know, oh, what you're doing isn't what I'm calling what I'm calling. What I really want to do is clarify the issue. So to me, when I use the term open blockchain, I'm clarifying the issue by saying open is the characteristic that matters and here's why and here's what you get with it. And the blockchain part is really an implementation detail. The blockchain is the best way we have found to do open decentralized global consensus. But as a technology itself, it's not that interesting. The blockchain is the least interesting part of Bitcoin. What is interesting is not even, the proof of work is much more interesting, but what is really interesting is when you combine all of these things together and then make something that is non-national and independent. But again, I don't care. And so when you are presented with the word blockchain, that is not an answer. That is a prompt to start asking a lot of questions like what is the consensus algorithm? How decentralized is it? Is it open to innovation? Is it open to permissionless innovation? Does it afford anonymity or does it afford privacy? So we have to remain to open blockchain law. Is it censorship-resistant? Is it censorship-resistant? And is it also coercion-resistant? And so the important thing to me is this. In the next 20 years, we will live in a world of entirely digital money. This is not a possibility. This is a certainty. We will live in a world where the vast majority, if not all transactions, will be entirely digital. And so we have a choice. We can live in a world where the norm is one in which our identity is tied to every transaction. And we voluntarily give the power of complete financial surveillance to whichever government we elected last week, hoping that this one is a good one. And knowing that the next one could be just as crazy as the one before. Or in many countries knowing that there is not a good thing about them, that they are evil in action. We give the power of full financial surveillance over every human being on this planet to centralized authorities. We are walking down a very dark path, a path in which when you say the wrong thing, your bank account disappears. When you go to the wrong protest, your life savings disappear without judicial process, without question, without answer, without recourse. That is not a world I want to live in. And the alternative choice is a world that re-establishes the fundamental balance between the governed and the government. And that is a world in which individuals have transactional privacy, as we have had for millennia, without horrible things happening. Because most people use their money to buy food, shelter, healthcare, clean water, and to express themselves. We can live in a world where we have complete privacy and governments have no secrecy to hide behind. They are forced transparency, which is the way the balance should work. We live in a world where there are no borders for our ability to trade and do commerce with the people of this planet. And a world in which everyone can participate. This is the choice we face today. The future is digital money. The question you have to ask yourselves is, what kind of future do I want to live in? And that is a really important question.