To set the stage for our discussion over the next two days, first, I will briefly reflect on the past to assess our progress in modernising payments. Then, I will turn to the present, where much of society still relies heavily on central bank money – or cash – even as peer countries adopt digital payments at scale. Finally, looking ahead, I will discuss our efforts to modernise the payments ecosystem and our strong preference, as the custodian of the national payment system, to reduce reliance on cash.