Impact of Cyberattacks on Banking and Currency

The cyberattack seems like a very possible scenario because it's a way for the

banks to absolve themselves of any role in a financial crisis.

Um, it's an easy way to, uh, consolidate banks so that only

systemically important ones survive the hack.

Um, and it could also potentially be a very

effective means of

onboarding people onto this new digital currency paradigm.

So for example, let's say this financial, um, cyber, uh, this,

uh, cyberattack on the banks takes place, and they say, "Well, the

existing money in your account has disappeared.

The hackers took it, but we can return to you the exact same

amount of money

you had, but it won't be in the dollars you had

before.

It will be in USDC or this dollar-backed stablecoin,

or it will

be this token."

So you can get an equivalent amount of money back,

right, um, from the money that was stolen from you, but it has to be

this new money. It has to be