We've looked at the work that your committee has done. It's absolutely a great stepping stone for doing more.
Everything that you mentioned is warranted. Blockchain offers a lot of efficiencies as it comes to the actual movement and settlement of transactions and maintaining overall data in the ledgers.
In engineering school, we used to throw a joke that if you want to find super old code, you need to go look in the banks because some banks maintain code that's written in COBOL. That was needed. That was warranted. At the time, this was the best solution.
Now, for something like blockchain, a lot of the prerequisites that you need to create a meaningful banking system come with the technology itself. It's hosted on cheaper infrastructure, and there are the protections that are required to maintain against fraud and manipulation.
Definitely in the cases for countries where immediate and rapid change can carry some risks, a carefully considered migration and adoption plan of blockchain technologies as modules into the bigger financial system definitely is the path forward to make us more competitive as a nation on a global scale.
To that point, if we observe how other countries have also started experimenting and introducing this technology into either their sovereign systems or very specific sectors as their need demands, it is an excellent way to make us very competitive into the future.
The last bit is transparency. Blockchain brings a lot of transparency. These ledgers are very transparent, so they also definitely help in situations where opaqueness hurts the end consumer.