**Smart Contracts - Know rather than trust **

The transparency thing is hugely ironic because a whole huge part of the whole thesis of running stuff on a blockchain is there's all public in New York, and you can see how it works. And so the way that I tend to describe this sort of public thesis is that, you know, if I go and work for somebody, I send them an invoice and I trust that they'll pay me. It's not about trust, faith and cross your fingers. Which I just, you can't help but look at the financial crisis of 2008 and go, surely, this is another case. So we need more transparency and more understanding about what's happening and we're not there yet.