Reserve Bank of Australia governor Phil Lowe is about as far removed from the world of grunge crypto as you could get.
For years a critic of crypto, the RBA, like many major central banks, has nevertheless been exploring ways of applying the blockchain technology behind cryptocurrencies for use in its own operations.
Millions of Australians now regularly use digital wallets on their smartphones and, in a speech last Wednesday, Dr Lowe outlined several possible scenarios in which the RBA may issue and back digital "tokens" similar to Bitcoin and other cryptocurrencies, in the same way it issues banknotes. But even that was a long shot, given our "efficient, fast and convenient electronic payments system".
That wasn't all. He then launched a bazooka at the cryptocurrency crew when he let slip that the bank was open to the idea of allowing private players to issue an electronic dollar linked to the Australian dollar for retail users.
But should that happen, it would need to be backed by high-quality assets like a bond.
"So, if privately issued stablecoins are ultimately the way things head, it will be crucial they meet very high standards," he said.
Therein lies the biggest threat to the crypto crew. Having failed to take control of global finance, cryptocurrencies as they now stand may find themselves obsolete as the world's biggest central banks turn the tables and launch their own digital currencies.
Digital currencies may be the "inevitable future of money" as one big crypto investor puts it, but it is highly likely they will be run by the very same central bank overlords that run global finance now.
Any privately run currencies or tokens will find themselves heavily regulated and forced to play within the rules.