Blockchain and the Private Equity Markets

I hear you talk about things like tokenization and this model that's evolving, Thomas. Are you in the bucket that we're going to be solving these problems over the course of the next year or two? Or do we have three to five more years to wait? Well, I would say my experience also with some of the enterprise blockchain adoptions, it's not primarily a technology problem. We're not inventing a new type of asset. It's just a workflow problem. So I think to unlock this at scale, it is a question of building that workaround with self management private banks with scale custodians.