dr. rodney garratt, you are recognized for five minutes. you can just push the button to turn on your mic. >> thank you, chair, ranking member and members of the subcommittee. the convenience of electronic transfers has led to a decline in the use of cash, particularly true in countries where systems are more advanced. sweden's mobile payment system has been adopted by over 60% of the population, and cash use in transactions has fallen to 2% use by value. countries around the world are releasing faster payment systems, including the recently launched system in the united states. at the same time, private mobile platforms continue to improve convenience and speed of person-to-person retail payments by leveraging conventional financial market infrastructures. it seems likely the use of cash will continue to fall, and it is worth noting that there's a tipping point that even if consumers seek to use cash, businesses and banks will not want to use it. what happens then? one possibility, people will be content to transact primarily in commercial