And key to today’s meeting actually is this idea of privacy enhancing technologies or PETs. The idea is to… Because we already have a new Personal Data Protection Act in effect now that massively increase the penalty for privacy, personal data breaches and things like that. So, the ecosystem is now looking to invest in privacy enhancing technologies, so they don’t even have private data stored in them. They can use either in a way that is like multi-party encryption or homomorphic encryption, so that they can do the data processing without touching the raw data. Or they can use one-shot tokenization so that by the time the transaction is over, they don’t even have any meaningful personal data with them anymore as with e-merchants and so on.

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