Trials by central banks  My third observation is that central banks are not immune to the impact of fintech. Our role as operator or provider of particular services, as well as how we conduct our supervisory roles, will be affected by the advancement of exponential technologies.
On the provision of services, such as a platform for high-value payments typically processed through a real-time gross settlement system, we have seen waves of experimentation by central banks. Projects such as Jasper in Canada, Ubin in Singapore, and our own Project Khokha have been initiated to understand the impact of new technologies on such service provision.