[0.0-5.4] last week, the six biggest banks in Canada announced they're building something together.
[5.4-14.4] Oh, goodie. I love that. The Royal Bank, TD BMO, Scotia Bank, CIBC and the National Bank.
[15.2-19.8] What are they doing? They're going to, they're helping you. That's what they're doing.
[19.8-26.0] They're turning your money in your accounts into digital tokens that can move between banks
[27.0-30.6] because I know that's what I want my money to do. I don't want my money just sitting there.
[30.6-36.2] I want my money to move between banks instantly, you know. And the word that
[37.7-42.0] delivers all of this to you is programmable payments.
[44.8-49.4] Programmable means rules can ride along with your money.
[50.3-56.5] Okay? So in other words, because this is for you, when you have to pay a contractor,
[57.4-61.8] that money only, it could be in their bank account, but it only becomes valid when the inspection
[61.8-70.2] passes. Isn't that convenient? But money into your landlord's account. But it only becomes
[70.2-75.8] active when the rent is due on the first of the month. Oh, so useful, so handy.
[76.0-86.2] You know, because you know, any rule that can say go can also say stop. And if they can program
[86.2-92.9] it, I wonder if you're the only one that can say, yeah, I want this money to be valid here
[92.9-100.2] at this time with this rule. I wonder if any government or any bank would be able to program
[100.2-107.6] that in case you happen to do something maybe the government didn't like. No, no, this is for you.
[109.4-115.0] These are the same banks remember that in February of 22, along with every other bank in Canada,
[115.0-120.7] were ordered by their government to freeze the accounts of truckers and some of the people who
[120.7-128.0] gave them money. But that was a hassle. That was a lot of work. No judge signed off. No, no.
[128.0-134.6] Canada's federal court later ruled it was unreasonable and violated their charter rights.
[137.0-144.2] Well, the only thing it didn't do that truckers is offer them made. But that'll come. But their
[144.2-152.8] money paying for made will only become valid in the banks of the hospitals or the doctors once
[152.8-160.4] you're dead.