 not sure how I'm now after ICOs blockchain and how the the world will change so dramatically not even in the future in a far future but almost tomorrow now find a way to where we stand today and what is other problems at hand well let's see that I guess many of you are here you're interested in blockchain you're interested in in financing shaping financing etc and you are here because you have some interest in entrepreneurship and that's why we think that we should be talking about from getting from the boring side of banking into actually celebrating entrepreneurship founding a company and these guys told this talking about blockchain talking about everything what we do you need enthusiasm you need to be crazy about what you do and we think that we are crazy about what we do blockchain aside for a moment and there's other things which we'll see at hand now I'm not going to bore you to tell you that the banking of the future in our opinion will not be that that you will not go into bank branches and that you do your finances with banks etc or in that you rather do this in apps or in Apple watches or whatever you will have there but rather that this is going to disappear entirely as an institution and this is our firm belief that what we have to do is bring the actual financial services into our everyday lives now the the the track is called democratization of finance well we start by looking what is democratization it's moving away from a totalitarian regime into a democracy we've heard about blockchain and I think blockchain is the ideal model of a democracy now when you just look at other things totalitarian regime the banks the traditional banks as we know them they were a or they are a totalitarian regime they have the power the decision power about the financing systems and we think that is fundamentally wrong we have to bring this back into the the actual chain and the actual transaction of what people do in their everyday lives you don't wake up in the morning and say that you need to do some finance that you need to open an account you need a car today but what you do do is you want to buy a house you want to go on with your life and what finance has been doing in the past is hindering rather than enabling that actual transaction now when you just look at China this is already happening it is a bit more complicated in more regulated spaces like in the US or in Europe when you see that you on one hand that you talk to to your friends to your family etc for instance via the messenger and the other hand that you send money via peer-to-peer platforms or PayPal actually when you just bring the two things together what's what happening with WeChat this is what we what we're seeing now in general and this hope happens throughout all kinds of finance products not just payments now how can we make banking contextual you've heard about a couple of solutions and how this is going to happen and I fully subscribe to all of them but where you standing now you need to create an ecosystem you need to create system you need to create technology you need a modern banking infrastructure to do that and that being not on old technology that can be blockchain that can be whatever kind of technology but it has to be a modern infrastructure and not a monolith built on technologies from the 70s and that's what we see still today it has to be open extremely open open API so I think if you talk to to traditional banks or the FinTech industry everybody has two words two buzzwords on its agenda open APIs and digitization we believe that it's not the one monolith anymore who drives the business but it is a connecting part to create an ecosystem to bring everybody together on that platform and the third one is in order to to be out there the products have to be actually there in order to serve the customers and I'm not saying that this is it has to be the nicest and smoothest application on the on the iPhone but it has to actually serve a purpose now what we have done is we created or are creating the first two parts to make sure that there's a lot of things coming in which don't have to be done by us we enable this as a platform we bring things together but what we do not do is creating the actual products there is thousands of companies out there who know their customers perfectly well how are we supposed to know much better how to serve their customers this is actually being done by creating and don't look at this now as just one big block because it's not it is the actual platform where you have thousands of different systems integrated but we created this this infrastructure we opened up this infrastructure via APIs in order to have third-party providers everybody from telco from fintech from technology big tech etc to create their products to serve their customers well this is where we think the future of traditional banking is going very very fast and the blockchain part is part of that entire movement and we think you cannot do one thing without doing the other and I just fully agree with Katie when just said we will see in 2018 a huge breakthrough and what is going to happen in the finance industry let's see about that thank you very much