I think people all agree that, after janet yellen got global tax arrangements working after 20 years of not happening that cryptos going to get taxed eventually well find a rational way to do that. So, as i think, as your partner said, that is past. I think the question about regulatory environment compared to wild west that does concern people at the moment. There are increasing numbers of what i call clearly financial products at the moment, and yet the historical regulation of cryptos been that its not a financial product and thats, where i think were all getting tripped up that the regulators are trying to find some way to rope. This back into traditional finance and trad fi is just not a good wireframe to think about cryptocurrencies. Here at the moment, i think the question is, which is the proper tax jurisdiction in the world thats going to be the first to say, we want to come up with a independent and clearly designed to fit crypto regulation for crypto, nothing to do with the tax Environment, where everybodys going to have to pay a correct amount of tax in the future, whats most interesting to you at the moment, when you take a look at the broad range of opportunities, are cropping up within crypto within blockchain chain technology, whats compelling to you and What do you think will be around as a compelling investment opportunity? 5. 10. 20 years from now? Well, i think pay to play is like nothing ive seen now, theres guys who understand payment, rails and and first and second and third, orders of how the payment rails are going to work.

That is not my world ive been in workforce management, ive been in training and what im absolutely dumbfounded by is the speed to which the pay to play ecosystem is emerging, and, if you think about that being the on ramp for the metaverse and axi being the Sort of first model thats, actually effective out there and im sure theres going to be hundreds, if not thousands coming after that. That is just amazing that you can take people who have no access to employment or any sort of employment support around the world and get them earning ten dollars a day and effectively theyre in joint venture with people in capitalist economies who are putting up a thousand To two thousand dollars a day as much as twelve thousand dollars, um to joint venture with them to go into the gaming business, its absolutely extraordinary. And if i think about all of the work that ive done over time on developing economics, ive, just not seen anything like this to your point, though, how important are regulations in actually supporting these industries, so they can prosper and and and also protect retail investors. Well, i think theres, two different things, which is retail investors, need to understand. I think we have huge huge problems with re. The way that australia regulates crypto in that sophisticated investors can get access to the best sorts of support and infrastructure, and because retail investors cannot go to a registered financial advisor and talk about crypto, they end up going to the wrong people.

So i think theres a huge problem for retail investors on cryptocurrencies here at the moment and ive called again and again again for some sort of sensible strategy of that. But i have to say im seeing no sign that thats actually going to happen. Um in australia, anytime soon im hoping its going to happen somewhere else as to whether or not that actually has an effect on crypto long term. I dont think so. I really its going to be like online gaming, where its coming its going to be established. There will be countries like malta and gibraltar in the case of online game that work that work and well find them sometime in the next two years here as well. So where could it be that somewhere else, when we actually see regulation done well, i think you could look at the countries that are a chance, um japans, a chance. Surprisingly, i think switzerlands a chance. I think singapores a chance, i think, do buys a chance. I think youve got to be a whitelist tax country to do it, so i think that theres, more speculative countries that could go and announce and try and do stuff – i dont think thats actually going to help. I think youve got to find one of the established tax, paying countries who says taxes sorted were focused on regulation. I dont know which of the white list. Tax countries is going to come up with a completely different regulatory framework for crypto, but ones going to break soon, absolutely for sure, and once they do, then the crypto world is just going to flock to them mark with tata monetary policy in the pipeline.

Whats really interesting to you and you think, is a solid investment in the alternatives. Segment. Doesnt have to be crypto. I think the point about it is, if you think about whats, going to happen when the everywhere bubble burst, you got to say precious metals and i like platinum, more than um gold, and i like the gold producers more than gold, the metal, so that one, i Think youve got to have some part of your portfolio and precious metals. I think berkshire, even though its had a run continues to be a really really good. Uncorrelated asset people think its a stop its really not at the moment.