Fifth, is the idea of the ledger of things. We're already seeing applications of this new Internet of devices and things. Soon though, most transactions will happen between devices and not between people. Consider the smart home, homeowners are adding smart devices such as thermostats and solar panels. Soon potentially, trillions of devices will be connected to the Internet. Doing everything from driving us around to keeping our house lit to managing our affairs and managing our health information. These devices need to be resistant to hacking. They need to be able to communicate value such as money or assets like electricity, peer-to-peer. Consider electricity, if you imagine that your neighbor's home is generating energy from a solar panel and you've got a device that needs to buy that electricity, then those two devices need away to be able to contract, bargain, and execute a payment peer-to-peer. It's not going to happen through the Visa network. It can only happen on the blockchain.