"This aging financial system infrastructure puts the United States at a competitive economic disadvantage to economies like China that are building new financial infrastructure based on twenty-first century digital technology." - @giancarloMKTS
Testimony: https://bit.ly/2E5tmL0 

"nothing reveals the limits of our existing financial system more starkly than the US government’s response to the current COVID-19 pandemic, in which tens of millions of Americans had to wait a month or more to receive relief payments by paper check."

"Meanwhile, other economies, like China’s, are advancing rapidly in deploying instantaneous,digital currency payment systems."

the world is entering a new era when things of value, e.g., $, contracts, stock certificates, land records, cultural assets like art & music, personal identities, & even votes, will be stored, managed & moved in a secure way instantaneously from person to person

if we act now, we can harness this wave of innovation for greater financial inclusion, capital & operational efficiency & economic growth for generations to come. If we do not act, this coming wave ... will lay bare the shortcomings of America’s aged, analog financial systems.