In this respect, the fourth point that I would like to discuss today is that over the last few years we have seen that monetary analysis is not only an important, but also a complex business.
2 See David Mills, Kathy Wang, Brendan Malone, Anjana Ravi, Jeff Marquardt, Clinton Chen, Anton Badev, Timothy  Brezinski, Linda Fahy, Kimberley Liao, Vanessa Kargenian, Max Ellithorpe, Wendy Ng, and Maria Baird, “Distributed Ledger Technology in Payments, Clearing, and Settlement (PDF),” Finance and Economics Discussion Series 2016–095 (Washington: Board of Governors of the Federal Reserve System, 2016).