00:00Most people recognize that out of all the developments in the blockchain and digital assets ecosystem, DeFi is potentially the most transformative, right?
00:14It's also in some ways the furthest afield from being able to kind of have widespread adoption, but unlike, you know, in the early days, permission blockchain use case here or crypto here, there's not one institution in finance who doesn't have some path to being disrupted by DeFi, right?
00:42So everything else has been a mix of kind of opportunities and maybe threats. DeFi forces everyone to say, what does this mean for us if this actually happens?
00:52So everybody's paying attention. You're just not at the point yet where you've got kind of banks and asset managers.
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