Absolutely.
Blockchain presents a unique opportunity for client identification in a secure and encrypted way, using the concepts of digital keys and digital key management. That's an area that we need to contemplate as we look forward to revamping regulations. How will banks use digital key and digital key management in the new regime, and the rights of protecting that information under PCMLTFA and things of that sort?
I'll tie this in quickly with bearer shares, if I may. In the blockchain world, this is a bearer share. If I give you this, it has a private key and a public key, and you own what is in that crypto-wallet or in the blockchain. That is not a mechanism by which the conventional means that we use to track and report on money laundering will work in the future, so there's an opportunity for exploration and new ways of innovation in how we think about AML in a future state in this space.
I welcome ongoing discussions with the Department of Finance, the CBA, and the government on this very topic, with FINTRAC included. The advancements we're seeing in technology create opportunities, but they also create new risks, and we need to be in a position to address that.