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<v Speaker 1>Hey, folks, we're recording at Chainlink's smart con and joining

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<v Speaker 1>me today is Adrian Wall, who is the senior director

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<v Speaker 1>of US Policy at tron Dow.

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<v Speaker 2>Adrian, great to have.

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<v Speaker 3>You, Thank you, it's great to be here.

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<v Speaker 1>So Adrian, tell us about yourself and what is the

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<v Speaker 1>tron Dow sure.

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<v Speaker 3>So, as you mentioned, I am the senior director of

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<v Speaker 3>Policy for TRONDW. What that means is, I'm focused on

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<v Speaker 3>the policy side of what are those implications whenever we're

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<v Speaker 3>talking about emerging tech, crypto, stable coin, blockchain, how should

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<v Speaker 3>legislators be thinking about it? How do they need to

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<v Speaker 3>be taking that information so that they can turn it

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<v Speaker 3>into ethical and responsible policy that's also going to be effective,

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<v Speaker 3>not an easy task. And then how do I bridge

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<v Speaker 3>that gap between legislators and the public. So it's actually

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<v Speaker 3>there's quite a bit into it. Tron has been incredible

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<v Speaker 3>when it comes to wanting to engage with both sides,

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<v Speaker 3>not just both sides of the aisle from a government perspective,

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<v Speaker 3>but also both public and policy. So wanting to connect

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<v Speaker 3>the community and what their needs are with what the

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<v Speaker 3>legislator should be thinking about on Capitol Hill, right, and

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<v Speaker 3>when you talk about what is Tron. Tron is one

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<v Speaker 3>of the world's largest and most prolific blockchains, yep, right,

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<v Speaker 3>And I think what's and that's both by transaction transaction

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<v Speaker 3>volume and user base. Sure, And I think what's really

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<v Speaker 3>interesting about Tron is their governance structure. So it's run

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<v Speaker 3>as a DOW, a decentralized autonomous organization. And so what

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<v Speaker 3>that means is the users, those who have the native

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<v Speaker 3>coin trx, are the ones who are really in control

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<v Speaker 3>of making decisions when it comes to infrastructure, how spending

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<v Speaker 3>is down, in security and things like that. So I

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<v Speaker 3>think it's a it's a fantastic model for what a

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<v Speaker 3>DOW really should be. And on top of that, the

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<v Speaker 3>last thing I'll say, it's built for speed, built for efficiency,

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<v Speaker 3>built for security. So that's why it's one of the

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<v Speaker 3>most popular in the world.

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<v Speaker 1>The DOW setup is very fascinating and very unique because

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<v Speaker 1>Tron being you know, one of the blockchains getting a

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<v Speaker 1>lot of transactions, stable coin transaction so far, having a

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<v Speaker 1>DOW setup is very different from what everybody else is doing,

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<v Speaker 1>which is really great, and it gives the community more

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<v Speaker 1>skin in the game, more ability to have a voice

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<v Speaker 1>and things like that.

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<v Speaker 3>Yeah, absolutely, and I think it's a paradigm for what

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<v Speaker 3>the future ought to look like when you talk about

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<v Speaker 3>real decentralized models, decentralized finance. This is what we really

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<v Speaker 3>mean when we refer to those types of terms. So

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<v Speaker 3>I think tron Is it's always been visionary, It's always

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<v Speaker 3>been ahead of the curve when it comes to basically

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<v Speaker 3>setting the tone of what where the industry is going towards.

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<v Speaker 3>So this is no exception.

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<v Speaker 1>Now, recently I noticed, well I shouldn't say recently, but

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<v Speaker 1>as far as my introduction into the amount of volume

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<v Speaker 1>of like tether stable coins on tront, it's been pretty incredible.

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<v Speaker 1>So it seems like tron Is or tel uses a

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<v Speaker 1>tront a lot from an issuing standpoint, can tell us

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<v Speaker 1>a bit about that. And are you working closely with

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<v Speaker 1>tether or you know, as far as how that's done

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<v Speaker 1>and all that.

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<v Speaker 3>Yeah, absolutely, Well, I think the best part about it

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<v Speaker 3>is it's the market that speaks. It's the users that

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<v Speaker 3>choose to use tron to do their USDT transactions and

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<v Speaker 3>why because of the reasons we just mentioned right the

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<v Speaker 3>now governance is a big part of it. That transparency,

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<v Speaker 3>that user control, the speed, the low cost the security.

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<v Speaker 3>All those things are what people want and they find

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<v Speaker 3>it on the Tron blockchain, So that's it's a very

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<v Speaker 3>natural and organic. We have a great relationship with the

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<v Speaker 3>Tether team, but nobody is forcing anybody to do their

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<v Speaker 3>trans you do use USDT on Tron, nobody's forcing them

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<v Speaker 3>to do that. It's a choice, sure, and I love

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<v Speaker 3>that It's a choice people can choose, and so the

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<v Speaker 3>market decides what is the best way to do things,

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<v Speaker 3>what is the best product?

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<v Speaker 2>Oh, for sure.

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<v Speaker 1>So as far as use cases, is Tron you know

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<v Speaker 1>as a blockchain being used for to organization, meeting, coins, NFTs,

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<v Speaker 1>things like that.

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<v Speaker 2>Can people do all those things on.

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<v Speaker 3>Tron trying can be used for a wide range of applications.

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<v Speaker 3>In this case, I think you're going to see as

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<v Speaker 3>we see tokenization start to take off and become more

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<v Speaker 3>and more mainstream, you're going to see a lot more

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<v Speaker 3>of those types of transactions on Tron because whether you're

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<v Speaker 3>doing stable coin or you're doing tokenization, it's the underlying

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<v Speaker 3>rail that is the same, safe, secure, and low cost,

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<v Speaker 3>and I think you're going to see a lot of

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<v Speaker 3>especially if we talk about I love tokenization because it's

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<v Speaker 3>all about liquidity. It's all about taking real world assets

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<v Speaker 3>and then putting them on rails, right, and so now

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<v Speaker 3>we can get really creative. I mean, people are always

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<v Speaker 3>talking about short term investments, short term instruments, tea bills,

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<v Speaker 3>tokenizing tea bills, et cetera. But where is traditionally liquidity

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<v Speaker 3>really hard to find? Real estate for example. Yeah, I

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<v Speaker 3>saw a little bit of the fine art NFTs. Anywhere

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<v Speaker 3>where you have traditionally very difficult to find liquidity access,

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<v Speaker 3>it's perfect for tokenization. And so I think that's where

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<v Speaker 3>we're going to see a lot of innovation that's exciting.

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<v Speaker 1>And I've noticed a lot of building on TRON, not

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<v Speaker 1>just in the United States but outside the United States.

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<v Speaker 1>So trying seems to be very popular in certain markets.

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<v Speaker 1>You know, tell us a bit about the international strategy

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<v Speaker 1>and getting and meeting with different folks in different countries

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<v Speaker 1>to build on TRONT.

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<v Speaker 3>One of the things I love about Tron is that

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<v Speaker 3>they are very intentional when they think about the needs

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<v Speaker 3>of their users, right, but at the same time, they

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<v Speaker 3>want to make sure that the users are the ones

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<v Speaker 3>that are validating that thought process or those deliberate actions.

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<v Speaker 3>So they may have these ideas that are very specific

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<v Speaker 3>to the developing countries in Africa or Southeast Asia or

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<v Speaker 3>Latin America. The same time, there has to be some

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<v Speaker 3>thought into the sort of the hyperlocalization that comes along

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<v Speaker 3>with those each of those geographies. So TRON on one

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<v Speaker 3>hand is being very deliberate about their expansion strategy, but

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<v Speaker 3>at the same time, everything comes down to the user base.

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<v Speaker 3>What are they really looking for And there's a lot

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<v Speaker 3>of commonality so on the you know, in developing nations.

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<v Speaker 3>Stable coin is a fantastic way for users to have

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<v Speaker 3>access to financial markets that they wouldn't normally have. TRON

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<v Speaker 3>is always talking about banking the unbanked. Sure, yeah, and

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<v Speaker 3>so I always like to say that financial literacy financial inclusion.

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<v Speaker 3>I always like to say financial inclusion without financial literacy

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<v Speaker 3>is a bridge to nowhere. It's access without empowerment and

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<v Speaker 3>so on TRON there's the opportunity for that access. But

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<v Speaker 3>through a lot of the initiatives that TRON has, there

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<v Speaker 3>are so many educational resources out there, and that's another

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<v Speaker 3>one of the things that I do at TRON as

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<v Speaker 3>the senior policy director is I'm also working on some

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<v Speaker 3>of that education con and making sure that everybody has

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<v Speaker 3>access to understand how to really best leverage these technologies.

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<v Speaker 1>Oh absolutely, And education is such a core piece because

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<v Speaker 1>we're so early, you know, it's kind of analogous to

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<v Speaker 1>the early days of the Internet, where everybody's like, what

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<v Speaker 1>is the internet?

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<v Speaker 2>How do I use the email? I have to dial up?

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<v Speaker 1>It feels like we're very much here because there's billions

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<v Speaker 1>of people who don't understand.

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<v Speaker 3>This one hundred percent. And so the way I look

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<v Speaker 3>at it, on one hand, you can think that's a

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<v Speaker 3>daunting task. There are a billion people or way more

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<v Speaker 3>than that, actually, way more they need to learn this.

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<v Speaker 3>But on the other hand, it's like the sky's the

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<v Speaker 3>limit at this point, right, and so we have the

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<v Speaker 3>opportunity to get in at the ground level and offer

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<v Speaker 3>people an alternative. And not just in developing world, this

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<v Speaker 3>stuff is really relevant here in the US.

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<v Speaker 2>Yeah.

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<v Speaker 3>So I do a lot of work with without naming names,

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<v Speaker 3>I do a lot of work with legislators on both

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<v Speaker 3>sides of the aisle in congressional districts, working with community

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<v Speaker 3>leaders to make sure that they have the understanding and

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<v Speaker 3>the education of all these technologies. They can then pass

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<v Speaker 3>that message on to their community. Members of their community

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<v Speaker 3>because it's one thing if I were to go in

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<v Speaker 3>and say, you know, stable coins can help you do this.

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<v Speaker 3>DeFi can help you do this if you don't have

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<v Speaker 3>documentation and you don't have access to a bank, here's

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<v Speaker 3>an alternative. But that message is so much stronger if

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<v Speaker 3>you get a local community leader. He really understands the

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<v Speaker 3>pain points and the challenges that they have to go

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<v Speaker 3>through on a day to day basis, and they can

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<v Speaker 3>take that material and sort of put it through that

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<v Speaker 3>kind of lens. That message hits home really hard. And

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<v Speaker 3>then now you start to see that kind of adoption

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<v Speaker 3>increase dramatically. In those places where we've done that work,

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<v Speaker 3>we've seen huge jumps in adoption.

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<v Speaker 1>Oh yeah, talk to us about what you're seeing here

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<v Speaker 1>in the United States, because I mean, this year has

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<v Speaker 1>been incredible for crypto from a regulation and policy standpoint.

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<v Speaker 1>We get the Genius Act that passed, you have a

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<v Speaker 1>favorable environment, and you got the Market Structure Bill in

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<v Speaker 1>the Senate.

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<v Speaker 2>What are you seeing in DC and what are you

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<v Speaker 2>hearing now?

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<v Speaker 3>You're talking my language, all right, So let's talk Genius

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<v Speaker 3>Actor real Q huge incredible momentum that we had getting

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<v Speaker 3>that pass that was a watershed moment for the industry.

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<v Speaker 3>It was an easier to tackle, easier topic to tackle

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<v Speaker 3>because stable coins fundamentally are easier to understand for the legislators,

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<v Speaker 3>which was a perfect way for them to kind of

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<v Speaker 3>get their feet wet. We did a lot of work

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<v Speaker 3>on Capitol Hill, meeting with legislators and their staffers, getting

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<v Speaker 3>everybody up to speed on the potential and the possibilities.

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<v Speaker 3>Some took to it like a duck to water. Some

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<v Speaker 3>needed a little bit more I wouldn't say coaxing, but

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<v Speaker 3>they need a little bit more help. So we spent

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<v Speaker 3>a little bit more time in their offers, and then

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<v Speaker 3>some of them were just meh, Okay, this is not

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<v Speaker 3>top of mind for me because I've got so many

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<v Speaker 3>other priorities in my whether it's state or district. Sure,

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<v Speaker 3>but those meetings were were all there, everybody was listening.

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<v Speaker 3>Compare that to I'd say, four years ago, even if

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<v Speaker 3>you got in the door, I mean by the ears

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<v Speaker 3>were close, ears were shut, eyes were shut, nobody was

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<v Speaker 3>paying attention. So genius was fantastic. Now clarity, my take

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<v Speaker 3>on it is a little different to I think most

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<v Speaker 3>people in the industry. I'm actually quite optimistic that we're

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<v Speaker 3>going to get Clarity passed this year. Probably not. We're

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<v Speaker 3>probably looking at Q one Q two of next year. Sure,

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<v Speaker 3>but I know for a fact that there are legislators

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<v Speaker 3>on both sides of the Aisle right now as we speak,

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<v Speaker 3>that are working on this on the Clarity Act, drafting

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<v Speaker 3>new language to make sure that both sides their concerns

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<v Speaker 3>are being heard. They're doing it. BIPARTI is in reaching

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<v Speaker 3>across the aisle in good faith, and that gives me

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<v Speaker 3>a lot of encouragement. The government shut down, yeah, it

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<v Speaker 3>didn't help, kind of slowed things down, right, but whereas

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<v Speaker 3>I think a lot of people are are very pessimistic

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<v Speaker 3>and they think Clarity is dead, it is not dead

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<v Speaker 3>at all.

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<v Speaker 2>That is for next year. Absolutely, that's great to hear.

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<v Speaker 1>That is some progress happening despite even government shut down.

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<v Speaker 1>And boy, if we can have that the latest Q

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<v Speaker 1>one twenty twenty s or like you said, Q two,

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<v Speaker 1>that would be amazing. And you know, once that's passed,

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<v Speaker 1>are you expecting like a boom and innovation and more

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<v Speaker 1>entrepreneurs and innovators and things like that.

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<v Speaker 3>One hundred percent. I mean, people are just lined up

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<v Speaker 3>waiting for this stuff for this legislation of pass, then

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<v Speaker 3>the innovation is just going to exponentially skyrocket. It's going

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<v Speaker 3>to be a hockey stick curve.

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<v Speaker 2>Oh and I.

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<v Speaker 3>Cannot wait for it because even the things that I

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<v Speaker 3>hear just at conferences like this, I mean there's there

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<v Speaker 3>are some wildly innovative ideas. I used to think streaming

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<v Speaker 3>payments was like hot shit, but like, and I don't

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<v Speaker 3>know if I can say that on here, but I

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<v Speaker 3>used streaming payments was hot shit. No, man, not at

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<v Speaker 3>all that that's like that was you know yesterday. If

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<v Speaker 3>you're still talking streaming payments, I mean you're behind right.

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<v Speaker 3>These people are taking programmability to the next level, and

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<v Speaker 3>I think it's incredibly cool what's coming down the pipeline. So, yes,

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<v Speaker 3>I'm in policy. I should mention that I'm also the

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<v Speaker 3>managing director of Digital Sovereignty Alliance DSA. For sure, it's

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<v Speaker 3>a nonprofit based in DC that does the education and

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<v Speaker 3>advocacy work for crypto for AI a lot of this

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<v Speaker 3>work that we're doing. Capitol Hill and tront is also

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<v Speaker 3>a huge supporter of that initiative as well. But I

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<v Speaker 3>also come from an investment background, and so I've looked

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<v Speaker 3>at I've spent decades looking at investment opportunities in crypto,

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<v Speaker 3>in emerging tech, sure, and now the time has never

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<v Speaker 3>been better than now for really interesting innovative ideas at

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<v Speaker 3>reasonable valuations. And so it's an exciting time all around

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<v Speaker 3>for everybody.

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<v Speaker 2>For sure.

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<v Speaker 1>And I mean certainly appreciate all the great work you're doing, DC,

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<v Speaker 1>because it's so crucial to get these policy makers and

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<v Speaker 1>the politicians up to speed and what's happening in the

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<v Speaker 1>potential of this technology and much more. It feels like,

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<v Speaker 1>you know, the nineties where Bill Clinton and Al Gore

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<v Speaker 1>and you know they did the right thing and finding

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<v Speaker 1>the balance not over regulating the Internet, well, letting it flour. Yes,

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<v Speaker 1>you have to put some guardrails in place, but we

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<v Speaker 1>know the rest is history and what came out of that.

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<v Speaker 3>Call me crazy, but I think this, I think crypto

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<v Speaker 3>presents an opportunity to actually repair some of that hostility

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<v Speaker 3>that you're seeing between the two parties right now. I

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<v Speaker 3>can't speak for all topics. I mean there's some real

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<v Speaker 3>rancor out there, right but everyone can get behind the

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<v Speaker 3>idea of safer, faster, better payment rails. Yeah, and an

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<v Speaker 3>opportunity to lift people who are in marginalized communities, who

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<v Speaker 3>are struggling financially to learn a new way of balancing

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<v Speaker 3>their budgets, of making the financial system work for them.

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<v Speaker 2>Right, everyone can get behind that, absolutely right.

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<v Speaker 3>So I feel like once and they're listening, So both

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<v Speaker 3>sides of the aisle now, I think this is an

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<v Speaker 3>area where they can come together.

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<v Speaker 1>And even just a simple fact of you know you,

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<v Speaker 1>in addition to what you're saying, you can create a

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<v Speaker 1>lot of jobs and boot you know, help boost the economy.

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<v Speaker 2>It's not just gonna be crypto. It's gonna be AI

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<v Speaker 2>and other things.

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<v Speaker 1>But if we're at the dawn of the next tech boom, right,

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<v Speaker 1>like we've seen Web two and then Web one before that,

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<v Speaker 1>we got to embrace this and open it up so

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<v Speaker 1>people can work and make money.

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<v Speaker 3>And you know, one hundred percent and to that point,

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<v Speaker 3>trad fight, get your act together, bro, you know what

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<v Speaker 3>I mean, fucking get your shit together, and like let's

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<v Speaker 3>go stop playing defense and stop being a stick in

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<v Speaker 3>the mud and get on board with like where the

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<v Speaker 3>rest of the world is going. And and I've seen

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<v Speaker 3>a lot of it there. I don't want to I

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<v Speaker 3>don't want to, like shame the entire industry. I am

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<v Speaker 3>starting to see it's not so much exploration as it

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<v Speaker 3>was a year ago. It's a trad file was kind

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<v Speaker 3>of exploring the idea of crypto. Now they're integrating. You're

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<v Speaker 3>seeing stable coin payments being integrated into mainstream banks. You

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<v Speaker 3>are seeing DeFi access being integrated on a smaller extent.

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<v Speaker 3>But you're seeing tokenization. Tokenized deposits is a hot topic now.

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<v Speaker 3>So I like where that's going. We need more of that.

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<v Speaker 1>So I don't know if you can how much desaers

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<v Speaker 1>you can share here. But is TRON approaching these institutions

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<v Speaker 1>who are looking to tokenize and do all these things

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<v Speaker 1>to try to, you know, be the rail so to speak,

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<v Speaker 1>for them to build on.

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<v Speaker 3>So I, without going to too much detail, TRON is

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<v Speaker 3>being very supportive of first policy. Let's get the policy

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<v Speaker 3>right without kind of getting ahead of ourselves. Sure, because

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<v Speaker 3>if we don't get that right, any energy we spend

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<v Speaker 3>going directly to Fi's and saying, hey, you know, we're

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<v Speaker 3>the blockchain you should use.

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<v Speaker 2>Sure, it's a moot point. Sure.

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<v Speaker 3>And the other thing. As I said at the beginning

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<v Speaker 3>of this, TRON is fantastic when it comes to letting

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<v Speaker 3>the user, letting the customer decide what makes the most

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<v Speaker 3>sense for them. There's no we are putting out what

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<v Speaker 3>we think is the best product. If I put my

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<v Speaker 3>Tron hat on, we're putting out what we think is

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<v Speaker 3>the best product, and it's up to the market to

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<v Speaker 3>decide whether we made the right choice or not. I

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<v Speaker 3>think we're going to take that same approach in the

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<v Speaker 3>US in the development as we have in other places.

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<v Speaker 3>It's worked out everywhere else. Sure, no reason why it

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<v Speaker 3>wouldn't work out here.

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<v Speaker 1>It's exciting times, Adrian, and I'm looking forward to the

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<v Speaker 1>passing of the Market Structure Bill and even future updates

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<v Speaker 1>are on tron.

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<v Speaker 2>Thank you so much for joining Sure my pleasure anytime.

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