00:00 Speaker A

Layer two systems can bundle transactions at lower costs. That’s good for users, but it also means a huge increase in activity does not mechanically produce the same increase in fees on the base network.

00:08 Speaker A

Some institutions may use private infrastructure that never needs your chosen public token.

00:13 Speaker A

Others may prefer public networks because shared infrastructure is useful.

00:16 Speaker A

We will see different approaches. Every announcement does not lead to the same ticker.

00:20 Speaker A

My expectation is that businesses already holding the customer relationships, licenses, assets and distribution will have some of the clearest early…