You have plummeted, your own resources. Done that. Take this mission. So i tell you, we are ready to go. Any time the button is given and it has all the us dependence of great have agreed to deepen ministry of economic ties at a summit in cub david. And they condemned what they described as china as dangerous and aggressive behavior in the south china sea. Today, we may history for the 1st ever stand alone summit between the leaders of our 3 countries as well as our commitment to meet together and the leader level annually. And to have all our rows of cabinet members, people feed on a regular basis for from this point on just this year, not next year forever. Thats the intention. So the 1st time ever, instead of in the sidelines of multinational conferences that withheld the try lateral summit on a stand alone basis here at camp davids numerous historical meetings of taking place. And its a huge on and it was printed the 1st page and thats history. Was this meeting as north korea funds . Its nuclear and missile programs by exploiting labor and human rights. Our efforts to monitor these activities will be redoubled to the turn north. Koreas elicit funding activities as a new working group on its cyber activities. Will be stablished, korea, the us, and japan oppose. Any you a lateral attempts to change the status quo by force. The calendar is facing its was 5 season old reco officials, including of declared a state of emergency as one of us continued to destroy homes and businesses in a separate blaze in yellowknife knots displaced 22000 people. United nations has suspended all lights of says that the largest refugee kept the palestinians at 11 on friday. The wind was fine to is to leave its facilities to the end of the hello, a cab, good battles between rival sanctions last month killed 13 people, and full spouses from the haves. Protested with a high cost of living of taking place in syria. Hundreds of people demonstrated in damascus. These the repub, its an old time blow against the dollar. Serious currency has been full and since the civil war began in 2000 or less than 3 un peacekeepers, itd be enjoying scuffles with tucker cypriot security polls in cyprus. The finding the account of the construction vehicles involved. Why would move into the you and control buffer . So the split seal island tucker cypriots will forward. Hes wanting to build the road through the area of the you and says, the construction dates are the authorized as cold on the ticket side to immediately withdrawal, opus now and machinery. In the buffer side, the United States is a pretty easy deployment to photo. Thats 16 fine to just to ukraine today. Edition and jets will join the role. Once youve played in pilots complete that training, the dates have been submitted to National Efforts to train the pilots to fly the sixtys in combat. The 1st ship to use you crazed you who by the terry, colorado or the black sea has arrived safely to stumble. The container left odessa on wednesday afternoon trips 18 months since the russian invasion. Russia has mould basic commercial vessels using ukrainian pulse. You create a new ro, baby, have signed a degree with to Work Together to boost keeps great exp, bolts for media, has been to keep transit points. Expos, from ukraines. This must get pulled down 12, but you had to go shaded black. See great in the last month or the 33 year old position to us has been convicted of murdering 7 babies between 20152016. Please see that they is also guilty of attempted murder of 6 bull at the hospital. You. Thats why she what those with the headlights both use a little bit later tonight is on next the. Ready this is my Award Winning documentary, what big coin broke chains and web 3 that was 1st published in 2020. Since then, a lot of things have happened. Global inflation rates have sold the price of bitcoin 1st increase by the effect of 8. 00, but then fell by 75 percent and visit many of the smaller crypto currencies imploded. More recently, notable Crypto Exchanges in books and protocols had to shutdown and its what appears to be outright from h. Hi made a film about the history of money banking and bitcoin buckler going. They said its going to be a bumpy ride. And now some of the big brains and big egos to champions crypto currency claim, they are building a crypto utopia. Magic those things will happen is something called block chain technology. And it just might change your life and they really could compete with, if not even take down the facebook send the googles and the amazon. My name is tungsten hoffman and im going to put some of these claims to the test. So get all the hype. Well explore the True Potential of this new invention. See whos already using it, making it really easy and simple for people to on a piece of a solo 5 or a week. And go deep into a secret bunk of that holds billions in bitcoin. But they have those who want to kill it, join with me and introducing a bill to outlaw crypto currency. So the way nip this in the bud wont change the world with it. Welcome to ground 0 in the battle for the future of the internet. With 3 point oh, they lived in a Science Fiction dream. What they actually did was, builds, flows coming, disaster block. People were not willing to learn f. Were not willing to admit they were wrong. Im telling me that i have no clues is. Thats just what people have support free speech. You dont support big calling your enemy a good point. This is bigger than the internet, the higher edge, the renaissance, the industrial revolution. This affects the entire world. Ok, lets start slowly with the basics of money and its creation. The total value of all the worlds money is about 120. 00 trillion dollars, which you probably didnt know is that each new dollar is created by governments and banks as debt. Which needs to be paid back by someone in the future with interest. Thats why there isnt enough money in the world to repay all that debt. And there never will be. Oh, and almost all of the worlds money is already digital. Just entries in a letter, usually managed by a bank. Only a small portion exist as physical currency, like cash or coins. Think of it this way. Your employer deposits a 1000. 00 into your bank account. Then you pay 200. 00 in taxes, 500. 00 for rent, 200. 00 for bills and shopping and so forth. What are you use . Credit cards, debit cards, paypal or bank transfers. Theyre all just pluses and minuses in different digital letters. This way, theres almost new need for physical money in our daily lives. A string, the financial crisis in 2008 mysteriously got a cold. So touchy nikoto published this 9 page wide paper. It said that the coins open source software. We can create or money without banks or governments, the this new node money called crypto currency is created and stored in computers. And before long there was a growing fan club. Most of the guys like ranch of you today, hes a polarizing figure, but big then he gave away thousands of coins to kick stopped the movement and they all called him big calling jesus. I think that for many years he brought more people to be going than anyone else and we would forever be grateful to him for doing that. When i was a kid, i was reading all these Science Fiction books. They were talking about how the world is going to be when we have this like anonymous digital cache that people can use on the internet. Its not controllable by anybody. And then when bitcoin came along, it was like, wow, the Science Fiction money that i had been reading about as a kid is finally here. So i got so excited about it. I heard about is about 10 in the morning. And i was planning to go to work that, that day, but i didnt, i stayed home the entire day reading about it didnt leave. I stayed up all night that night. Reading about it stayed up all night the next night or even deep down bed rabbit. Holding to the point of physical exhaustion office. I called a friend of mines that please help me. Im so sick. Can you bring me to the hospital . Yeah. Branch of the big bad by the big claim, but like so many others funnel truly one of the most exciting inventions ever in the entire history of human time. But how does it look . When my friends ask me to explain . Well, i often start with this analogy. Imagine a bank vault where you have a safety deposit box for key opens. What are the boxes where you can securely store physical valuables, like gold coins and did clean their digital teeth. Think of them is very long passwords or your private key gives you access to a wallet which unlocks billions. If you need to clean addresses. Each one is a virtual safety deposit box that only you can open, which is your key. And there are more addresses in this virtual vault in adams in the universe. The doors to these boxes are transparent. You can see inside them. Heres one was digital money. Point 21 bit coins, sending them from one box to another is whats called a big queen transaction. Well explain that later. But for now, just remember that these digital coins can only exist inside these transparent address boxes can be copied and cant ever leave the vault. And this vault is owned by news, single entity. You dont need permission from a government, a bank, or a corporation to use it. The foremost early adopters of the coin, it was all about global p to appeal electronic cash room. 77. Invalid was one of the very 1st businesses to accept big coins as payment for physical things. V as in bo, this back in 2011, there were no more about wallets, right . So you had to go there, bring your laptop type in and this long address, you risk losing the money if you didnt type it correctly. So the 1st guy building the bible was some guy in brooklyn who built it in order to buy his spear move his phone instead of his computer. So what if those slow and expensive middle man with them multiple edges could be replaced by a giant database, synchronized over the internet. Thats the big idea behind bitcoin. And its run by the centralized Global Network of powerful computers and regular laptops. This immutability is the 1st rule of bitcoin, it means no one can ever change what it was once we caught it in the block chain, off, spend the same coin twice. And thats also called censorship resistance. And its critical to bitcoin being used as real money award. Winning journalist laura sion tells me a story about women blog posts, and ive gotten this done being paid in bitcoin in that one of the women having a piece of husband and saved up her big coins and eventually was able to divorce him because she was able to control her money when she earned the big coins. In my 1st film, the early adopter said that this kind of Financial Freedom for everyone was just around the corner. Girls most populous network, is adopting bitcoin. Thats the internet. The Worlds Largest economy is adopting bitcoin. Thats the internet. We have transcended borders. Its totally files, went to a cache. David gerad doesnt buy all the height. Hes one of the most outspoken critics and skeptics of block chain technology. Its not very good as a payment system. This small claimant use case. If you want to trade in things, the government doesnt want you to trade ins. Thats davids polite way of saying illegal stuff. In 2011, most of my talking to colleagues was saying 3 things here. So without the drugs pornography on sale, the silk road was a black market on the dock with buyers and sellers use big coins to fly under the radar of the authorities. It had 1000000 uses until the s b. I showed up and shut it down. They called this guy for running it and confiscated the coins held in escrow by snatching his computer and then they locked him away for life. No doubt crypto currencies can be a tool for criminal activity, but still on the bills all the banking system. And lets not forget the block chain is a public let you, that its actually been quite useful for uncovering crimes. A former federal prosecutor named catherine hon. She was the one who discovered that there were a couple of federal agents that were pilfering since that coins that the government had obtained from this old pro case for their own gain. And what was interesting was she got a tip that there might be one of one agent that was doing this. But from looking at the movements on the block chain itself, she realized that there were 2 people. The prosecutor could see those big coins being moved. And with the dirty cos, try to sell them for dollars. They got busted. But what makes big coins with stealing . Why do they have value at all . Lets go back to where big queens are stored in transparent digital deposit boxes, protected by strong cryptography. They can never be copied or leave default because any transaction of any bitcoin down to a 100 millions fraction is recorded in the block chain for trinity. This synchronized global letter is shared among thousands of computers worldwide. Thats why it cant be compromised or altered. Think about that. We can make an incident number perfect, digital copies of the movie song, any file. But for the 1st time in history, this distributed Record Keeping allows us to have a truly unique and fungible Digital Object that is also scares. If you could count all of these virtual coins, you find about 18000000 of them today. The, when the cap of 21000000 is reached, the protocol stops the network from creating anymore. Its the opposite of our traditional money supply, which keeps growing in growing an unlimited amount of dollars versus a very limited supply of big coins. You do the math if you use euro so dollars you might ok. I bought it in facial pay. Yeah. But if you currency isnt stable, you might be a trillion and paper and beat that brooks a rubbing but though, and yeah, and assigned by the far as indeed how my parents are she branches there. And i remember growing up in my childhood, i saw my parents lose everything 3 times. First, because of a huge the reservation then because of hyperinflation and the last time because the government confiscated all of bunk, their bosses, i think that they, they are billions of people, at least 4000000000 people who would be a lot better off by having access to a form of money that is non political and, and more than one credit. We think of finance. We think of banking, we think of money in terms of the experience and perspective of western european or develop nation person. And that is really just a 1000000000 and a half people who have a very privileged financial life. What about the other 6000000000 . Every single country that is free has essentially a legal status for crypt occurring since that is very open and permission. And every single country that is unafraid has a restrictive for band crypt of currency status. This is the building wall fil a powerful symbol of government trying to control it citizens. And that brings us to the big question, can governments or banks ban bitcoin . Well, some politicians still think they can stop open source software. I looked for colleagues to join with me and introducing a bill to outlaw crypto currency purchases by americans. So that we nip this in the bud in part because not a awful lot of our International Power comes from the fact that the dollars, the Standard Unit of International Finance and transactions clearing through the new york fed is critical for major oil, oil and other transactions and it is the announced purpose of the supporters of crypto currency to take that power away from us for so currency represents a litmus tests for governments. Its reveals how much your governments believes in a, in the fundamental freedoms and, and human rights. Because if they dont trust their own citizens to have control over their own money, is that since a lot about the government says very little about crypto parts. As you see, the reason why some governments and most things are threatened by this technology is simple. You private key and you want it can replace your bank account. The network is run by software, and its currencies made and maintained by computing, power, and electricity. It cant be manipulated by central bankers, wall street, northeast all politicians. But with new freedom comes new responsibility. If you can handle the keys at your very point, if you dont use it, its not your big point. Your keys dropping point knocked your keys. Masturbate point your keys, your big point. Naturally, keys not survey point. Got that. If you lose your key, you will never be able to access your clients again. And if someone hacks your computer, but you still have those passwords, youll coins will be stolen in a 2nd. Or worse, you trust a 3rd party like mount docs in the early days for f t x recently, and you find out that they didnt. These are a few trust millions of crypto currency. Investors have lost the assets by storing the coins, one centralized exchanges. And remember how wins as a family had them money stolen by their own government . Well, maybe thats why he built the fort knox of bitcoin secuity example. Most of our 7000000 customers are in emerging market in countries where theres problems with the car and see we have explosions in activity like venezuela right now, derek and we develop the system of wallets where we have 5 private keys for each one of our between addresses we keep those private ds in an offline server that has never been on line with narvie on line. Its inside of all the voltage inside a bunker, usually the underground. Our main one is in switzerland, the natalie commission, military bunker. And i just had to see it for myself, even though it took months for us to get cleared for to the flu. A met by Christopher Walsh by a former military colanda who runs the place. And the representative from sample kristof said the gods would rather shoot us than show us around. I hope youre kidding. They need to bring the material 3 other side of the personal look. First up, one more check of all i do use a pet down for weapons or any other monkey business. And given inspection or even the boss was searched, it took nearly an hour to get my teams were secuity, but it was worth it. No other film crew has been allowed access. We are the largest custodian, a fit going in the world because a lot of the largest holding, theres no words use us or security room. It has it that 10 percent of all big clients are stored here. And in the fall of the secret locations, but unfortunately, i cant confirm any of those numbers from the amount that we are getting a lot of benefits. But those quite proves, flooding prove. But on the other side, you are facing a lot of additional cost. Like maintaining 7 independent bank of power supplies, the labyrinth of tunnels deep into the mountain is interrupted by nuclear, great dos. Its a level of security applied to all of the data. Kristof protects you. Not just for example, we can not talk too much about it because its a freight, the c quite the weather is down there right now ill be allowed to assume that about the, the doors that remain shot and security measures we werent allowed to see. And some of those checks may be biometric, including the i kind of finger prints con and the fingerprint scanner. Also make sure that youre alive. So do the and cut someones finger and youre just using it to open a gate. So you must have a post the these on samples of the actual service, but if youve ever wanted what triple code and ccs dream about, its sitting somewhere down here unplugged from the internet. But there is absolutely no way 0 way to attack the, the bank that we use on the cold storage side. But heres my question. Why do i need the cold Offline Service to be in a set amount . And ive had to be in my basement. Thats why we started raising you basically. You still cant be sold, right . So, so this is life money these days. So yes its, its been invited, but it is money at the end, a lot of money. And this is by this data center. He is more a bank then then in vegas, lets do a quick recap. We now have billions of dollars worth of data secured and digital bangs, deep inside secret military bunk us. If you dont think bitcoin is already changing the worlds concept of money, you havent been paying attention. Remember moving to used to be a Senior Executive deutscher bank. His colleagues, one said bitcoin was for law, frank, us in trouble make us, you know, run script to fund auto mall to our Research Shows that the trip to markets are gonna probably be, be worth about 8. 7 trillion in 2027, which is a 50 x from today. Exactly. Most financial analysts say you better stick to a chance and bones and bonus. Bitcoin is dangerous nonsense. Fall to risky as investment to to others. Bitcoin is an escape hatch that will take them away from risk and insurance against the financial doomsday away out of the debt crisis, negative interest rates, trade was an economic downturn. They say its an anti fragile asset, uncoordinated to financial markets. So how about the general public in america, the Younger Generation already starts to trust this new assets us. And when success, bitcoin may reach a 1000000. 00, the calling i would say, the biggest financial mistake you can make right now is to own an amount of bit going that you cannot afford to lose because its a risk and you may lose. The 2nd biggest financial needs that youre going to make is not the phone any, because you put one percent of your net worth in be going most people can afford to lose one percent of the network. And if i am right, its going to be more than a 100 percent of your networks. So with a non material exposure, youd change your life. No. Would you would spend with your on a romantic weekend with your wife. Say, sorry, were not going to go out this weekend. Im going to just vibrate, going, concierge spend it disappear, checking 7 years. I either gave you by the advice on cost you a weekend or i want a grandkids, go the one seat in 2017. 18, there was a big debate about whether bitcoin should increase the block size of some argued that more transactions should be enabled. So it would be cheaper to use it as currency black group ultimately for the change. Which means that they split off to do their own version called bitcoin cash. Hold on, lets go back to where we started. Bitcoin was created p as a few electronic caching that was the q that a payment directly from you to me. From me to the coffee shop. I have bought a bag of coffee for 2 bitcoin in 2012, which today cost me 12000. 00 and todays money that is a deflationary effect as long as between keeps doing southern increases in prices. Thats gonna stop retail use in its tracks. With bitcoin, you can send 1. 00 or 1000000. 00 worth of value anywhere in the world. You can do it for free, and one philosophy could be described as the coin additional goals. And the other philosophy can be described as the coin as digital cache. A good point ordered though. Weve already met the digital gold camp who opposes any changes to the protocol despite the hi fees raja represents the other side of the debate. They wanted a system upgrade, the solution is easy and just increase the size of the blocks from 1. 00 to 248 megabytes. So that more transactions fit into them. This will lower the fees, and people will start using bitcoin as cash again. But most of the community disagreed so be coined, jesus had become the client, judas, and they also split into 2 separate big coins. Every revolution is followed by the counter revolution, which is usually a purge of the original revolutionaries. When i 1st started covering the space, every one was united in the struggle against the establishment. Now the industry has grown so much that they have competing parties for begin the machines conspiracy theories looks a lot like politics. The biggest fight within the big quantico system is over at the moment. Theres who has the right, the name bitcoin. But at the end of the day, i think the version of bitcoin described in the big one white paper has the strongest claim to the name that coined than anything else. And thats big calling cash. I think its fraudulent to say that and causing people to, to buy big on cash when they actually want to buy big coins. They as a desk guns and the cash thing is for mature, flushed and fall in between the army. A comfortable di says the english why the doctor does, he calls them bitcoin because she calls time depression. He has has um, his sailors or anything that could add those in your face to bit coins because of them coming up. The model of the chain explained in predicting the future of the internet and the im charles dons going to raise up behind the sides. Dramatize the pub cost from ill just here to invest facing re here from some of historys blogs, notable women on unconventional and extraordinary office. I am 40 that kind of a communist revolution of everyone in china, new my state. Youve heard all of them power its time you have from these and 6 of hindsight is out now subscribe way. If you listen to pub of the un fits of purpose was like many critics sites just pub solution doesnt get anywhere near enough done to the amount of money that is put into a hard hitting into abuse. Do you think about to the lines of washington enough for money to go on its own and built its on dont providing on for centuries, people have been taken care of are. So i have every confidence that future generations will do it as well via the story on told to how does era, inspirational women together the largest number of young women and showed that entire nearing performers was the 1st to mail the, the painting, jordan to senior. Well celebrates a female fans taking traditional outage in a new direction. They go on stage, its motivates other girls to join citizen. So jordan and egypt pon outages here, people are very well aware of the wealth potential of that country. But as theyve seen with a huge mining profits generated in the east of dc, nothing ever filters down to the pool. The rain forest provide for the 10s of thousands of small communities who live that from a roof over the head to face of the pump box. Infrastructure is minimal. Schools and hospitals, if any, a barely equipped electricity, none. The question, perhaps oil can change things to the bank to get a very real sense of the tech fee here just by driving a little bit. This track treatment is Little Community because we keep reading the statements being taught to be on the expiration project. Quite a lot of people, the id also, im running out shopping, get out at a weight of what you want to keep all floors, leave off for us to learn the visceral connections of the land. And a total lack of faith in the government meets with these communities, at least, or, and exploration is a known stone to of the future. I know, i know you want to find out what any of this has to do with this new crypto po, revolutionary internet. Well get that promise. But 1st, we need to go from big coins, original block chain, to hundreds of block chains, back in 2011 when china leave us a google engineer. She wants to foster and light a version of that whole. Shes crypto currency. And was one of the 1st to experiment with the open source software. The actual quoting terms of like the code differences between the clan, my client was actually pretty trivial. And what, what does that mean in time . Like, i would say like 44. 00 or 5 hours. Light cleaning was one of the 1st alternative trip to currencies or all the coins. Some of the early adopters, like charlie made fortunes. Soon they were hundreds of points made by cryptographers, copycats and con man. Vessel coined for bloggers, a currency for online games, one was in an empty and even one for bangs. But can this invention lease something even more powerful than Digital Currencies . Back in 2014, i met the kid who knew how to do it. I might, if its alex border in co founder of a big when magazine founder of his area and then just general pick, pick one encrypted currency advocate. Just 19 years old vitale. It was on a mission to make money. Programmable comparison might be between is like a spreadsheet and is there is like a spreadsheet. With my cries, using all analogy, you see them allows you to install crypto currency and computer code in the same 6 you a box. Heres how smart contract might work and size. Lets say i bet charlie that a light coin will be was 200. 00 on january 1st of next year. We each put an isa into a box, along with a smart contract, a Simple Program that automatically checks the price of light coins on that future date. If im right, the money goes to me. If im wrong, it send to charlie. A smart contract is neither smart nor contract. Its a dumb program. And a once you understand the all, it is a program that clarifies a lot of stuff and the word contract there is in the meaning of finance. Most Financial Arrangements are Pretty Simple and clear. Cut a bad with charlie. Your home loan and insurance policy. Just 2 parties and some form of exchange of value based on a set of rules called the contract. The same is true for Global Financial markets. Think bonds, features, derivatives, credit default swaps. Theyre all just contracts, and the World Economy runs on them using middlemen to all charge high fees. Proponents say that if we use to smart contracts, we could tell the bankers lawyers escrow agents and wall street finance guys to take a hike. Most of what were doing is were saying we have a list of the room Network Inside of the room network. Theres this asset called ether, and were actually going to be selling use, or were going to be selling either at a rate of 1000. 00 to 2000 either for one bit going. And thats how were going to raise all the money. It worked, botanic figured out a way to fund the field and project, and it made his invest is very rich. This new model fundraising soon had a name and initial Coin Offering or i, c o. I b as in ice geo sound similar, but they have their nothing similar. The only thing similar about them is they both help you raise money and ive, i fios, you dont do until you have a company until you have revenue until you have users until youve actually proved to the public investors. If this is a valuable company thats worth investing and its worth buying their stock, and i seos, its pretty product you have maybe a couple of people on the team is just a white paper. And so people are just buying into trust into faith that this is something that will exist. The goal sir, is like, ultimately i like to say 8 year olds building the financial systems. Yeah, but what is some of these a deals also scam us . So lets say im trying to do a i c o and i created smart contract where i create a 1000000 coins. And one of the transactions is that if you send me a 100. 00, i will send you that many worth of points. It was a man gold rush, the people realized, wow if, if i can just pull up pull together project and a white paper, i can raise money like a lot of money, some people hawking you coins didnt actually exist. This handsome chap is the Graphic Design of a book irene. I seal. Actually they just posted a photo of ryan glossing. Another project raised millions in isa, and then vanished, leaving investors with this website. Look close. Thats nice. I would say about 2 to 5 percent of the 1000 devices that are happening are actually legit and the rest is pretty scared me or its not going to work. Can you define for me what coyness is . I think its just a derogatory term. People whose use on queens that they dont like for the climax was people on the care about. They claim Everything Else is claim sure there are tons of use as projects that will never work. But maybe i was a bit too harsh on. I seals, democratizing start of finance can be a good thing. They will also many Legit Companies raising capital. Over the years ive met many founders who have real offices with real people trying to solve the real problem. But the big point maximus on the bluff change, i seos i. E o s t os smart contracts on easy them. Thats all just a waste of time. Varies and all the staff, blockchain side round and slice through a health care industry, n t, all. Oh cool is what youre saying is a maximum of this point of view you are speaking about from a perspective of, of a cult policy. My problem is that you, off hijacking you more of a technology that is far greater and has far more potential than just these individuals. Theres all of these Different Things that you could use blocks in for, right . And some people have the, almost like different ecosystems. And then what do you see is almost like an evolutionary process, right, where the block chains fork and they have the same as, as trees, but a daft to different environments, nbc dislike in ever increasing level of diversity and number of lock changed. So, i mean, the idea that theres like one block chain going to be one blocks and its going to be 5th, verifying it. It is almost like, disregarding the nature of evolution. Meanwhile, the big corporations have been starting crystal currency. And they think that big cons on the Line Data Base is whether magic is the model in the boardrooms block chain, knock bitcoin back in gemini, my friend oliver keeps tabs on the men in suits. He used to be one of them as fast as the poison on the name and diesel documentation. Auburn is pending and flushed as well as if i didnt put an order asked on by being the get this on a, b and w is looking at using the block chain for the future fleet or electric cost to intact with public transport, roof tunzia and wants to see if the block chain can better attract pots and maintenance, and dodge, telecom is using smart contracts to negotiate terrace for roaming costs. With other telecoms. If we can still trade certificates and shipping documents on the block chain, you can check to see whether its organic off of carlos or really came from full groove. Them full pack them and we ship them. You might wonder whats the point of production if its controlled by a company . Well, i compare it to the open internet versus company own entrance. They both exist. Meanwhile, facebook announced a trip the currency for the 2000000000. 00 uses. Such a system might be more efficient than a public doc chain, but thats the downside. Some governments banded within weeks. Right now, the ways pieces of paper thats being shifted around that doesnt make any sense that infrastructure needs to be or why occupy want street when we can build a new one on the block chain instead in the future of the centralized finance stock certificates, Corporate Bonds insurance policies, property dates, mortgages, all can be turned into christo tokens and may tradable 247 whats much more exciting than tokenize securities, operational businesses, where its just equity that you pass around is totally novel Digital Securities that you couldnt do before, right . Novel use cases where you could check back partial on a continual basis. I think some examples of this that were seeing in our major down finance, which is the finance point thats actually much bigger of an opportunity because it represents something totally new. My name is dr. Jim, a green and im a co founder and the chairman of howell ledger, and we use the block chain to enable electricity Trading EnergyAsset Financing and calvin market. This Award WinningAustralian Company wants to take us to a common free economy. Foster jenna has identified a problem upon the building, often building the tenants, and it means that every solar panels, the owner of the apartment isnt really incentivized to put in solar panels about this because the tenant benefits but using up for the tenant will pay their electricity bill to the body corporate using power, let you the 10. 00 and paste the owner, not the Power Company for the electricity. And if the tenant isnt at home, the Unused Energy will be sold to a neighbor, lowering the power bill and making a profit for the owner. So it actually crates the, making the them to just the, by investing the capsule in the best buy. This clever system could also speed up investment in Sustainable Energy projects by making it real easy to own a piece of a solo or a wind farm. Why do i need a block chain for this conduct, invest in a solar fund without this . And you fancy tech chain access that kind of asset, right . Just an income register, and entire, you cannot see me as it. It becomes tradable on an exchange. You my are 2 or 3 solar panels of a 1000, you know, you know, as in the sofa and you would receive the income associated with that amount of items. You know, bank as dont very much like being cut out of the cash flow loop. So they took another look at mr. Nica motors, curious little white paper. And theyve recently been spending a 1000000000. 00 a year in block chain research. Isnt it ironic . So totally anti Bank Convention isnt all being used by the banks to move money, costa, and buy big business to track supply chains. The crypto currencies, digital tokens, public chains, private block chains. Where is the collab . Well, adoption of new technology often follows our trends. My name is mark francesca, im here at oxford. Yours oxford. Im a faculty, i mean economic sociologist by training, interested in how large scale infrastructure changes. So great to see you of the 9. Yes. I know mark teaches a class on innovation in system building. It tells me what must the line for new technology to become fruitful. All Technology Start out as interesting ideas. Some of them begin to develop into innovations. And we know that that are from invention to innovation, takes a lot of time and takes a lot of work. Some of those innovations eventually become commercially viable. But Kansas Technology as a, becomes pervasive as the internet. I came to the Computer History Museum in the heart of Silicon Valley to find out. So youre looking up the console for sage, which was probably the 1st computer network. There were 23 centers around north america to warn against soviet farmers, and they were waiting for world war 3, the u. S. Military and some american universities. Aust, this guy to create a new kind of network to connect the separate networks. And this, the young girl got up and she had a bunch of questions, but the 1st one was, how did i manage thinking this all the governments of the world to let us bill the internet . You know, i have said well, except for the handful of us that were actually working on the internet. Nobody else really thought it was a very good idea. And so you dont think it was a lead anywhere. And, you know, we pretty much had free running room. Yes, thats the man who cooling vender, tcp ip about 50 years ago. Thats the original academic paper. You can think of tcp as the backbone of the internet. But back then there were many competing technologies. There was a very big battle over the protocols. Tcp ip didnt just win by default. It one through attrition by basically being better, simpler, easier to deploy even all of the all scalable and more scalable. And it had a lot of competition from phone companies. And then theres email email i heard thats really neat. E mail was perhaps the internet 1st collab. Then in the early ninetys, Tim Berners Lee introduced the world wide web. Its a 20 page proposal. Soon, the web browser that made it more accessible and user friendly for the general public. I think that the internet is going to be one of the major forces for reducing the role of government. And the one thing thats missing, but that will soon be developed is a reliable e cash. Still few understood the potential of this new text from people that thought it would space the worlds greatest, a library to. Some of the early cypher punks who are the direct fathers of crypto and certainly bach chain type ideas who thought much as today, but it would create kind of a commons that was outside of the direct control of normal laws and governments and the media. They didnt quite know what to make of this and using either, but sure enough they phone, choose the stories about the dock side of it, which was the internet is full of criminals and p to files and pornography hers. And its too dangerous to use their credit card on it. Its full of scans. Were seeing the exact same story now. We envision technology as if it were autonomous, as, as if it were simply outside of human and social experience. But we see our technologies that become shaped by commercial interest, by a political and Regulatory Infrastructure by actors who are acting for many reasons. Right . Yeah. Where do you want to remember above the big telecoms . One of his thoughts on a little idea that were kicking around, they had a meeting, were trying to figure out how they could buy the internet, i think, couldnt kill it. Well, why not own it . I called a house out myself by an executive at a large information company. It was probably 1990 if they could buy the internet. I mean, i remember asking them, well why dont you buy the World Economy and you can have everything. Why dont you buy the weather and you can control last time. It took a few decades and hype cycles, but the wild internet was eventually domesticated, co opted by trillion dollar companies, and then fundamentally transformed how we shop work and communicate the Speakers Corner in londons hyde park for a 150 years. This has been a safe place to stand on a soapbox to sell your ideas, preach the gospel, bad mouth the king. All promote communism. To day that the world wide web, we can stand on giant digital soapbox and using facebook, twitter, youtube, we can share all ideas or start a fight with anyone on the planet. Well, almost any, one of 65. 00 countries studied china has the least Free Internet worse than iran, cuba or syria. A police force of more than 2000000 cyber cops and the worlds most sophisticated Artificial Intelligence system. Cheap china. So web content clean and use us in check. So sorry to break it to you, but thats no longer a world wide web. Welcome to the spending it to be fair. Some of the censorship is to prevent terrorist recruitment or to stop violent mops from hurting people. But i think government control over the internet has gone just a little too far. Hold on. So toshi ton of money into code code is just the letters and numbers which is speech, right . So money now is speech, which is a pretty powerful idea if you think about it. But if big client is this uncontrollable on sensible technology, can the block chain also enabled global free speech . In some places it already does. One Chinese Student tried to report a Sexual Assault and was silenced by her college. But she knew that she could attach a message and to the meta data of unnecessary m transaction. So she spent 0. 15, and now her letter outlining her story. And the threat she received is on the public syrian block chain, where it will remain on changeable forever. The the crypto pioneers wanted to democratize money. Finance 2 point. Oh if you will. But now the believe us in the block chains have the eyes on a big surprise. They want to decentralize everything with 3 point oh, you can, for instance, offer file storage in the way that an amazon does. Or that you could offer a search, you know, the way google that is, but do it in a peer to peer fashion with out this, picking this at the center, extracting rents and do it in a way where all the people that are users of that can benefit and they really could sunday, uh, compete with, if not even take down some of the big tech times like the facebook something googles in the amazons that we know thats a tall, tall order. And is it is, but i mean, who would have thought at the beginning of the internet that would compete wouldnt beat out and carter, its too early to tell with the projects like these can succeed. But i do like the idea of digital property rights. Wouldnt it be nice if companies paid us encrypt the currency when they use our data . And if we control who has access to it instead of our digital overland . Because lets be honest. Do we really trust google, microsoft and facebook . With the block chain . We dont need to rely on middle man anymore. Its a trust list system. Maybe you recognize some of these logos projects that with a hot stuff in 2019 the following year on emissions of the fi tokens, many of which rose to 1000000000 dollar evaluations. And the after that was all about the n f t hype on the broke chain. But most of these prizes have come crashing down. Many of the former heroes have fallen. Some of them are in jail. Bush would be so guys like you will build a Better Future and we can trust you guys better than the bank because you dont have to trust us. Thats the beauty for building a trust with the centralized system that gives power to people. I trust it, it sounds like theres no test, but actually it means we dont need to trust you. I think the better word should be trust to free about why the search or maybe half of all the cost of all the transactions are paid to establish trust. Between trading the parties like were paying for lawyers, were paying uh, auditors to a paying event. Please. Even regulators government to, to build trusts, to ensure everything will be enforced. So trust is quite expensive. Bookcase, the 1st time that we saw some technology that can eliminate the cost or reduce the cost of trust to dramatically magically things will happen. Trust may be expensive, but its also in short supply all around the glow. People have been losing faith in the media institutions and governments. This technology is a big brains and big eagles behind. It could fix one of societys biggest issues, which is how different all day from all co and political, financial and business status of their systems. Really resistant to corruption immune to manipulation and worthy of all trust. Maybe thats why the best bet is on the only project without a figure head. Bitcoin doesnt care about human drama, bad press all what anyone thinks. Yeah, sure. It hasnt succeeded as a global currency yet. But in the past decade, it has been the worlds best performing financial asset. So were back to where we started. The genius who vanished with the shame being gone from they claim they claim. Its really a very decentralize and networking courtesy. He was intelligent enough to know that the system without a father was going to be much more robust than a system with a father. No father, maybe. But without leaving a will. The kits and ill fighting over the meaning of his invention and the inhabitants projecting the fees and the fantasies onto his legacy. For some its money for the internet that can replace middleman and bank the on bank. And maybe a tool for this a trade, or is it digital gold, a totally new assets. Us. A bet against the bank has an insurance against inflation, protection from corrupt politicians and a weapon against the state. Maybe the end of money as we know it. For some enter pronounce, it represents a shortcut to funds and dreams, a platform for federal finance, which is why incumbent cited some say public love change or just slow and useless data bases. Well, big business is busy building private block chains to boost efficiency. Or maybe this, the centralized technology is a new protocol, a, a for the internet. Upon which we can build a better web to the throne. The tech giants reclaim free speech protect Online Identities and facilitate free trade in a border less digital economy. And yes, maybe even save the planet. Thats a never ending list of crypt. Hoping ideas. Isnt this a bit too much to ask of a 9 page document. Yeah, sure. The internet and the web started out as white papers too. But its a big couch before the infrastructure was built, became user friendly and ready to scale globally. We kind of domesticate the wild potential of technologies into whats familiar and we dramatically under estimate or under a match. And what that Technology May eventually do. Itll be the use of maybe billions of them who will adopt this Technology Without even knowing what a block chain is or how it works. Because heres the thing. The average uses dont care about the why us bit move them money quicker. Dont know about the soft bath, it moves this movie, all the picture. What will move them a services that will make the days a little brighter, that show us a little light and their lives a little richer. The the african narratives from africans respect to send the trust. But its a little while look at that things in a Short Documentary from an african filmmakers from mommy and get on the not return the sample substrate voice medina, the heritage and making her future direct on. Ill just the likelihood of millions of people in the hard depends on these buffaloes for his tended is heard on the banks of the for years. Now hes, im on the phone with instructions that eviction to make me for the Worlds Largest riverfront city. Since 2020, more than a 100 farm, is it being charged for . Does this thing called refusing to 100 percent focused on has the highest rate of organizations in south asia . Successive governments have failed to provide basic services. There are no Wastewater Treatment plants in almost 30000. 00 each has a bunch created sewage, those into the river every day that combined with reduce water volumes upstream dams in india meet the driver, sledge carrier. The Development Authority says that it wants to create about a 1000 cure se offer voss sewage which is dumped into the river robbie. But did not mention this concern. They say the hom to benefit ratio is non stop in finding that balance between investors, looking for profit and providing basic services and Affordable Housing to a growing population would be no easy task. The brought to you by visit cutoff, a hello good to be with you right off the bat. Heres an update on major hurricane hillary. Its going to spread some significant brain to couple of san lucas. We could see a few months worth of rain in a short period of time. Those winds will also gust to about 75 kilometers power. The red line is the path that this storm is likely to take just skirt into the west of baja, california. Meantime, as we look at central america, theres been quite a few down pores in the bahamas thats extended right into florida. Miami, picking up about 80 to a 100 millimeters of rain as of late and still some showers in rain in the forecast once again on saturday. Elsewhere for the us call states, it is a quiet pitcher and that rain moves away from the us northeast, pushing into canadas Maritime Provinces and were dragging up southerly air. So minneapolis, your temperature is up to 34 degrees on saturday. It is still breezy around yellowknife, thats causing concern for the wildfire is burning there. And as we looked toward the desert, southwest, something monsoon downpours coming into play here. Now for the top end of south america, its our usual showers in storm secure and weve got so weak ahead for santiago breezy for the river plate. Could see gus here 70 to 75 kilometers per hour. Soon a bit. The weather brought to you by visit castle. A teenager arrested, an accused of conspiring to, over through the russian government. Determined to prove your innocence or a political mother becomes a permanent human rights act. A remarkable tale of political persecution and the price paid by citizens. And full file space for the new great, and his case a witness document on the jersey sears from. Ill just say around on the go and need tonight out is there is only mobile app. Is that the, this is where we just fix allies from out is there is a mobile app available in your favorites apps to just set for it and typed on a new app from out to 0 new at you think . Is it the projecting unity . The leaders of the us dependence of 3 agree to deepen, minute 3, entity to moment corporation, the club. So robin, youre watching. Ill just say were like my headquarters here in the also coming up ready to go in the time the order is given. The due date is was