The Future of Credit Intermediation

John Defterios: If you have this base layer of money on the internet, that is like a straight through government obligation money in a digital form that can be tokenized and then works on these blockchain networks, you actually have an incredible material to build with. And for the first time, really ever, credit intermediation can actually become something that is in many ways safer than it is in the existing banking system. With the amount of information that one could also gain from payment activities that are recorded on chain, you're able to enable previously unattainable type of lending.