adopting it. So will that be the end of the dollar? The answer is no. I'm not a believer that crypto will disappear, but I am a believer that crypto will not become the world currency because governments will fight it. They will fight it because it complicates monetary policy. It takes away the senior edge that you get from issuing a currency. And legitimate concerns that the good of blockchain technology and the broader good of fintech and other innovation comes also with increased risk of malfeasance. Illicit payments, etc. So this notion that we should expect governments to stand by on the sideline and see a crypto on is not going to happen. And we've seen two reactions. China, very clear, make it almost impossible for the private sector to develop their own alternative currencies, but co-opt the technology and start working on a central bank digital currency, CBDC. The US, unfortunately, is still trying to sort out. Does it want a private model? Does it want a public model? And the (37/43)
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