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The following content is provided under a Creative Commons license. Your support will help MIT OpenCourseWare continue to offer high quality educational resources for free. To make a donation, or to view additional materials from hundreds of MIT courses, visit MIT OpenCourseWare at ocw.mit.edu. GARY GENSLER: Today we're coming back to blockchain and money, Act Three of this course. Now that we've done a little of the basics, a little bit of the economics, and now it's some use cases through the lens of finance. And to say something about one, why I thought it'd be worthwhile to structure the course this way, and what I'm hoping we all get out of these next 10 or 11 lectures is that I thought that it was important after laying some foundation of what blockchain technology might or might not be, and cryptocurrencies, and of course, talking about the economics, is to use one field that's the most dominant field right now about potential blockchain technology use, which is finance. It's not the only area, but finance is completely reliant on ledgers. It's completely reliant on moving property rights around multiple parties. And of course, the first use case was about Bitcoin, which was a peer-to-peer money. So I thought even if you're thinking about this in terms of health care, thinking about it terms of the internet of things, et cetera, many, many other use cases, why not take finance. Now it also happens to be my comparative background. And I've spent the last three or four decades of my life around finance. And so I can be most helpful and dig deep, you know, probably as deep as you want to get in the mortgage market, the payment markets, the exchange markets. I've probably been there at some point in my career, or still have contacts and networks and have studied it. But no doubt, with the 80 of you in this room, or 90 or so, you're going to press me. And that I like that. I will say last weekend was really a joy reading 50-plus papers that it was only about 25 of you that had decided to hand in papers early in classes 2 through 9. But class 10 was 50-plus of you. So I really do have a sense of the class in terms of what you think about finance and blockchain. Of course, you'll probably do the same. I think I might design it differently the next time. But if you all hand in-- if 50 or 60 of you hand in the papers for class 23, it will be-- and you have that right. I'm not taking that away from any of you. But it means I might be delayed getting back all the projects. I want to say two or three other things overall. In terms of where we are, we're halfway through the semester. And Sabrina and Thalita and I did a good job of just saying, how are we doing...