it’s important for us all to remember that the global payment system is a public good that serves as a foundation for the global financial system. And that it’s essential that the public sector play the leading role in its operation.

we do need some privacy in digital currencies, however, I do not believe that we want a privacy digital currency, per se. What I mean is that if you look at the different ways of doing privacy with blockchain, Quorum does this in a way that all transactions are encrypted, however for authorized parties, you do get the capability to decrypt the transaction and see the information as needed. However for a product like Zcash, they hide all the information on the ledger so that nobody can eventually see who sent money to who.  So I think as part of the regulation compliance, this is not something that we want to go with.