The Argument for CBDC on a Tokenized Deposit

St. Augustine, I think by pitching for this unified program or ledger, you actually made the argument for CBDS is more stronger now. And when I go through your speech, you have extended that to also tokenize deposit, which I presume commercial bank will participate in issuing a digital version of the currency. Now why can't we build on that? No? As a matter of fact, one of the reasons why the positing one bank to the positing another aside made the example is because you can move to cash if you want. So even if you don't move to cash, the fact that you have that possibility is key to the whole system.