peter maguire, thanks forjoining us from sydney on this latest development in the trade war. and europe, crypto currencies are very much the business of the private—sector. however, in asia, china's central bank is set to launch its own digital currency, while india is cracking down on non—government additional currencies. so is the future of crypto private, public or both? earlier i spoke to the chief executive of circle, the company behind a us dollar backed crypto currency, and asked him to describe the difference between his crypto currency and the us dollar. the idea behind the us dollar coin is you want all the benefits of crypto currency, the ability to send and receive currency at the speed of the internet. so, in seconds instead of days or hours et cetera and virtually at no cost. instant, nearly three. you want very high levels of security. most importantly you want your dollars to be what we call programmable and what we can get with technology, one of the advantages, is you can write code that allows your money to be programmable, just like content on the internet