This is a question that I'm extremely passionate about, and I think about it a fair bit. I believe 100% that there is an opportunity here to lean into this world.
The way that I think about this is this. Let's say that 98% of transactions that take place in Canada are denominated in Canadian dollars and 2% are in a foreign currency and they tap when they go to pay.
The question that I ask a number of people is this: In 10 or 15 years, as the next cohort becomes more comfortable holding their assets in a digital wallet, which could just be Canadian dollars on an iPhone or a smart watch—this is not a smart watch, but pretend it is—and that group of people 10 years from now grows up understanding NFTs or an in-game asset like a sword in a highly popular game, and those marketplaces become more connected and more fluid and have higher velocity and lower friction, will they still be paying 98% of their transactions and denominating their net worth, given the way they think about their life, in Canadian dollars?
If you think that the number potentially is lower, that it's 90% or 85%, what we're really talking about is Canadians over time having less and less interest in doing commerce denominated in Canadian dollars.
Therein also lies the opportunity, though, because I believe that the frontier of crypto or digital assets is going to be about who gets to be a dominant player in this new financial system and be part of this big economic activity. Whoever leans in and designs those dollars—