Michael Nicolletos

I just want to say to Richard, he's 100% right.

And I think part of it is that that resistance to change sometimes is, you know...

Helpful in the sense you might want to rethink a few things before you do them.

But again, any change, there's a quote by Winston Churchill, actually, which is very nice.

To improve is to change.

To be perfect is to change often.

Now, if you think about it, humans do not like to change often.

They want to stay in their comfort zone.

It's very hard for them to change.

And that resistance to change is what you just described.

So we'll see.

You can't stop change.

You can't stop technology.

The question is, who does it better?

And I think the US is positioned right now to do it much better than Europe, which is focusing on the legislation instead of the technology.

And...

China, which at this stage, at least, the US seems to be ahead of it.

The HHS network is a network where all the payments happens, all the employee payments happen in the US.

So just a benchmark to look at it.

Now, stablecoins, there are two aspects to it.