 Good evening. Let's see if we can get everybody seated or we can get started. It's great to see so many people here tonight. It shows that smart contract and smart nation can really capture the imagination of a lot of people. What I'm going to do is I'm going to take just a couple of minutes to introduce what we're doing at DPS and introduce the main speaker. Vitalik obviously knows so much more about smart contracts and blockchain, technically, than I could ever do. So I'm going to talk about a slightly different issue for a handover, just very briefly. So I'm assuming that all of you who are here today know everything basic about blockchains and smart contracts. I'm an expert so you can tell them from the slide here that I've done my own investigation and I can tell you almost everything you need to know. But seriously, a basic level of blockchain, I'm assuming that Vitalik will also not go through any of that in detail. What I want to talk about is within the financing industry. I think there's so many people today who can see the promise of blockchain, the promise of smart contract, and yet it seems that it's not really happening. It's happening in a lot of places in the ecosystem and Han and I were discussing it before. But in the financial industry, there are definitely steps, but what is that stopping it from happening? And you can ask a lot of people what it is. I have my own view and I just wanted to share it with you before we hand it over. So what's the vision of this here? And just being slightly funny about it, you imagine this future world where you wake up, the refrigerator that you just bought. It tells you that it was been trying to buy something from the supermarket, but your credit card was turned down. And therefore you can't get the beers that you need for tonight's football match. So what do you do? You call up the bank on screen and you realize it's an overdraft issue. And immediately you settle this with the bank online, maybe with a smart contract, whatever it is, you get your overdraft. And then maybe the next things that happen is that your insurance guy comes by, he realizes you have a problem with the car. He looks at your insurance claim and immediately he improves it on his iPad and with the smart contract, all these things get flushed through. Is that the future? It surely could be. Is it something that is coming tomorrow? Maybe or maybe not, but it's within a realm of possibility. And I guess that's why we can all get excited about this, especially in a smart nation. I'm sure some of you have much bigger thought that I could ever come up with. But there are obviously also those who have this view of the world, which is that maybe that's not such a fantastic place to go to. I personally think that it's the way we want to go. And I think in the panel today, later on, we'll have some of the good discussions around how we could possibly get there and where smart contracts would fit in. Okay, so what is the problem? I think we'll hear a lot about the technology problem and Vitalik will know that they're better than anybody else. We hear about capacity issues and a lot of things that I'm not smart enough to really understand the details of. I also think there's a different one, which I think is one of having the right incentives in place here. And what I see is for some of these things to really work, you've got to have a large group of people coming together. You've got to have these people who really want to work together, either through a consortium or whatever it is, because individually as bank, the incentives might not be quite as great. And so the question for any bank is do I wait with the risk of being rolled over, or do I try and get in early? And I think banks, including ourselves, are still trying to find our feet there. So I think that issue of how do we get from where we are now, but we can all see the promise into something which is a successful launch, it's not such a clear path. So I've been thinking about it. We all want the best of both worlds. What do you get if you marry this banker and this innovator, the metallics of the world or these type of people? Because a lot of people say today that those are the type of people we need. You know, we have technologies that can't be banking language and we've got bankers that clearly don't understand what is out to hit them. So one view is that you get the perfect bank CEO. You know, you get the one who really will buy into this and he'll put his investment dollars around it. You could have the view that all those people will actually go and start up their own startup companies. But unless you're unfortunate you get any of those, I think you get some kind of miscreature unfortunately, who can see the promise but can't really make it work because you don't really have the right mechanisms in place. So it's good that David is coming up here and I'm going to talk about him next. So if that is one of the problems, what is not the solution? The solution is not that bankers just go and hire more consultants and ask them to say something and then philosophize about it. They've got to do some action. They've got to try and get into the sandbox. They've got to try and do some experiments. Equally I think the solution from the start of one of you is not to think that all bankers are dumb and the best thing that we know of an Apple computer is something like this or maybe something like that. That's equally not the solution. The solution therefore to me lies somewhere where we do need a smart nation. We do need a government that can help bring the parties together, try and launch some of these things, get the people in the ecosystem to come together and I'm very encouraged that some of the science that we've seen with MAS that launched they did on Tuesday and I'm going to of course introduce Vitalik in a second but before I do that I'll just introduce David Lee who some of you hopefully know. David is too shy to say these things himself so I have to do it because I think he's really been a trailblazer for Singapore in many of these aspects around fintech and it's these types of things that we do need to get people to start to work together. So what are we doing at DPS around these things? In a certain sense we're doing the same thing as all the other banks are doing. We're trying to figure out which one. I think if I could say something that we do differently is that we involve our people more and we involve our businesses more. When we look at business cases we do have an innovation there because we needed to spur the spirit of this but really without the business unit seeing a case without our own people trying to get involved it's never really going to work. So the first thing we do is we get people involved. We get them excited, we get people like me, I'm from finance which is probably why I'm clueless about all these things. We get them to get a chance to get involved with these technologies try hands-on and play with these things and see if they themselves can make them understand and we get a lot of great feedback. It doesn't need to the next big thing maybe immediately but it surely is a step in that direction invigorating the organization and become more a tune of the digital age. Then as most of you know we do have an innovation lab because we do need to have a playground to play and experiment with some of these technologies and we are experimenting with different blockchain technologies some of you have seen them, some of the news that has come out and there are obviously a little bit more than what you've seen in the news right now we are trying to be selective, I think you have to there are so many different things out there and some of you here are great examples of locally bred blockchain technology solutions Tom is obviously being one of them but not the only one here tonight I have the fortune of knowing some of you who have really done something which could be the next big thing then we have run a number of accelerators, we've run hackatons these types of things you've seen run by other banks as well but again I want to come back to the one big thing people have to be involved without people getting excited about it without them wanting to engage we're just going to be like everybody else so with that I'm going to say this last thing let's just try and see because if you look at these math here we just take small incremental step forwards and David will help us get there eventually this is what it looks like the progress we can make in Singapore for the free digress and the other companies and the other countries take over this is also what it could look like and those numbers are pretty staggering if you start to think about them in many, many aspects of life now with that I'm not going to bore you anymore I'm going to hand it over to the main speaker Vitalik who says he's just another guy I'm not sure he's just another guy but he is a guy and I'm sure he's going to tell us a little bit more about Ethereum and smart contract Vitalik