Transcripts For ALJAZ Cryptopia 20240704

Were expecting them to discuss whats described as logistic concepts, evolving operational capabilities for self. So sustainment preparations for engagement, including recognizance, the projection of pools headquarters and some sort of discussion on the initial movements. But to other than that, we have very little detail to kind of the way evacuation or what is it being issued for the entire population of yellow nice the capital of the northwest territories. Hundreds of wall falls of bedding in the area and of how it is have told residents they have to leave by mid day on friday. The order effect is more than 20000 people. Thousands of vehicles packed the major highway is people drive safety. The car is approaching, get a knife. There is a possibility that without rain, the fire reaches the outskirts of yellowknife by the weekend. It is approaching, but theres time to complete the Community Evacuation as well. Satellite images say with the drifting smoke from fires and kind of the United States moving right across north america. And these time lots of videos show the spread of the somebody can, how its forming new clouds. Canadian Authorities Say there are 669 under control lot phones in the country. In hawaii, the head of marys Emergency Management service has resigned off to the agency was criticized for it timely as well for us. And the hyena and inquiry has been lawyers and to wind the islands. Atc nami alarms did not sound earlier. The former head of agency said he was worried. The sirens would have prompted people to move inland towards the 5. At least a 111 people have been killed and thats a number this expects to rise since hundreds are still missing. The governor of why says he will protect london is from being victims of opportunistic bias when marys thoughts rebuild. Nbc correspondent, j grey. As more now from behind what the governor has reassured so many about is that were not going to let these corporation sloop in at, at a dire time for these families and by their land out from under them at a time when they desperately need that money. How will they going to make sure that they have a supplies and, and, and funds for these families as they now begin whats going to be a difficult recovery. But even more, so what the governor said point blank. Is that any corporation, any company, any one who comes in and, and does that buys this land out from under somebody who is desperate will face a zoning restrictions will face the highest tax is possible. And basically what hes saying that hes going to use everything within his power in the government to make it so difficult for them to build or use that land of the rushes, defense ministry, whos accused the crate of a drain attack on central must go. It says Defense Systems shut down the drain and the other cities, ex space center less than 5 kilometers from the kremlin. The debrief fell on a building, causing some damage. The casualties have been reported. Several dro type type be reported on mosca and the surrounding areas in recent weeks. Ukraine is not commented on the strikes danish and thought jeff 165 and yet, so we give them clearance to join the goal in ukraine. As soon as you creating pilots of trade, United States has approve the deployment of the American Design working night to members, denmark and the netherlands of lead International Efforts to train you creating products to flight the 16 and combat paint. Later, passengers in the United States have had a delayed flight to mexico. The just taken off from houston hunting for concord when this happened. The engine problem for the crew to head back to houstons hobby airport. For safe landing, Southwest Airlines found a replacement to boeing 737, to get the very relief passengers to mexico. Just a few hours late yesterday with headlines one use coming up right off to crypto. Yeah. So you guys have 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 and 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 for 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 sending googles and the amazon. My name is tungsten hoffman and i am going to put some of these claims to the test. Forget all the hype will explore the True Potential of this new invention. See who is 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 are 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 for a speech. You dont support big calling, youre an 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 not slow you 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 ledger. 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. Whether you use credit cards, debit cards, paypal or bank transfers. Theyre all just pluses and minuses in different digital letters. Because 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 now come. Odo published this 9 page wide paper. It said that the coins open source software. We can create or money without banks or governments, the vis, new nerd 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 mine that please help me. I am 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. Your 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 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 wont 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 and 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 that one. 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 differentiation than because of hybrid inflation. 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 fill, 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 to currency represents a litmus tests for governments. Its reveals how much your complements 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 dr. Keys, masturbate point. Your keys, your not your 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, your 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 wallet 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 a tour, 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 the 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, youre 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 cannot talk too much about it because its the 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 kind 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. Yeah. 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. We basically still can be sold, right . So, so this is like 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 today, 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 fused to be a Senior Executive deutscher bank. His colleagues, one said bitcoin was for law, frank, us in trouble make us, you know, runs a trip 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 too 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 of a risk and you may lose. The 2nd biggest financial needs that youre going to make is not to own any, because you put one percent of your net worth in bid 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 my theory and 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. 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 cashed. Hold on, lets go back to where we started. Bitcoin was created p as a p 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 is special goals. And the other philosophy could be described as the coin as digital cash between one of the kids that 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, everyone 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 bit 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 the cash when they actually want to buy bitcoin. They as a discount of the cash thing is for mature, flushed and fall in between the army, a comfortable di for the english. Why . The doctor does, he calls them bitcoin because she calls time depression. He has his um, his sailors or anything that could add those in your face to bid coins because of them coming up. The model of the chain explained in predicting the future of the internet. The, the zeros here, its a report on the people often ignored but who must be hurt. How many other channels can you say . Well take this time and put extensive followed into reporting from under reported areas. Of course we cover major global events, but our passion lies in making sure that youre hearing the stories from people in places like how is fine with the region. And so many others. We go to them, we make the effort, we care straight. The, [000 00 00;00] the, the clock in the stores here on out 0 and defense, choose from the west african, lucky to us Holding Discussions on possible ministry incidents that need to, that meeting, donnas couple of acro, the regional Officials Say that, ready to send troops to meet you. If diplomatic efforts to restore democracy fail, Charles Stratford has moved now from across. So defend, cease, how we understand now have started the 2nd day of this close to meeting, and according to the schedule, were expecting then to discuss whats described as logistic concepts, evolving operational capabilities for self. So sustainment preparations for engagement, including recognizance, the projection of pools headquarters and some sort of discussion on the initial movements. But to other than that, we have very little detail to canada, where evacuation orders have been issued for the entire population of yellow, nice the capital of the northwest territories. Hundreds of wild fines of funding in the area and authorities have told residents they have to leave by mid day on friday, field or effects moving 20000 people, thousands of vehicles packed to major highways. People drove to safety. The far, the approaching of the knife satellite images show you the drifting smoke from funds and kind of the United States moving across north america. Is time lots of video showed the spread of the smoke. Canadian Authorities Say the 669 out of control efforts in the countries while in hawaii they had of marys Emergency Management services resigned or the agency was criticized for it. Time link. The wall flies in the hyena and inquiry has been launched into why the islands, 82 nami alarms did not sound any of the former head of the agency, said he was worried. The sirens would have come to people to move inland towards the 5. At least a 111 people have been killed. A number thats expected to rise, since hundreds of people are still missing. Lets play the passengers in the United States have had a delayed flight to mexico. The just taken off from houston, heading for con, couldnt when this happened, the engine problem force the crew to head back to houstons hope. The airport for a safe landing, Southwest Airlines found a replacement building 7037. 00 to get the relieved passengers to mexico. A few of the headlines returning out to create took yes. Shes in the know i know, i know you want to find out what any of this has to do v as this new crypto p a, a revolutionary internet will get that promise. But 1st, we need to go from big coins, original block chain, to hundreds of block chains, back in 2011 when trying to leave us a google engineer. She wanted to foster and light a version of the told 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 crypto 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. A vessel coined for blog as a currency for online games. One was in an empty and even one for bangs of kansas invention least something even more powerful than digital currencies. Back in 2014, i met the kid who knew how to do it. I love its alex border in co founder of i big when magazine founder of his area and then just general pick, pick one your group, the currency advocates. Just 19 years old. Vitaly was on a mission to make money. Programmable comparison might be between as like a spreadsheet and is there is like a spreadsheet with macros. Using all analogy ac liam allows you to store, accept the currency, and computer code in the same 6 you a box. Heres how smart contract might work, system 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 small 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 smart contractors 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 this if they are in 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 these even and project, and it made his invest is very rich. This new model for 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 put help you raise money. I, i, 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, i seos, its pre products. You have maybe a couple of people on the team is just a white paper. And so people are just buying into trust in to face 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 curtis my 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 put together project in a white paper, i can raise money like a lot of money. Some people hawking new coins didnt actually exist. This handsome chap is the Graphic Design of the book. Very nice seal. Actually they just posted a photo of ryan cost me 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 scan me or just 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, most 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. There isnt 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, of cult oh, you see my problem is that you off hijacking a movement 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 and we see dislike the 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 is almost like disregarding the nature of evolution. Meanwhile, the big corporations have been starting political currency. And they think that big cons on the Line Data Base is whether magic is the model on the board rooms. 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 theyre always under name and diesel documentation. Auburn is pending and flushed as well as if i didnt course in order asked on by being vague at this on a, b, and w is looking at using the block chain for the future fleet or for electric cost to intact with public transport, roof tunzia and wants to see the block chain can better track 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. A cod was really came from full groove, them full pack them and we ship them. You might wonder whats the point of a block chain 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 triple currency for the 2000000000 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 Energy Asset Financing and calvin market. This Award Winning Australian 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 if there is solar panels, the honor of the apartment isnt really incentivized to put in solar panels about this. Because the tenant benefits by using up for the tenant will pay their electricity bill to the body corporate using power. Let you the 10 and paste the owner. Not the Power Company for the electricity as a 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 cannot is in the asset. 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 or trends. My name is mark francesca, im here at oxford. Heres oxford on the faculty. I mean, i cannot make 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 off 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 as 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 scams. 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 the meeting were trying to figure out how they could buy the internet and fix it and kill it. Well, why not own it . I caught a house out myself by an executive at a large information company. It was probably 1990 if they could buy the internet. And 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 that. Then. It took a few decades and hype cycles, but the wild internet was eventually domesticated coopted 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, all 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 World Wide Web. Welcome to the spent in 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 bitcoin 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 and the serial transactions. 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 a li 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 a 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 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 valuations. And the after that was all about the n f. T hype on the block 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 that 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 you know, please even regulators government to, to build trusts, to ensure everything will be enforced. So trust is quite expensive. Lucky is 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 our 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 de coined decline is really a very decentralize and networking currency. 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 kids 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 the 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 d, thrown 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 the 2 decades before the infrastructure was built became user friendly and ready to scale globally. We kind of domesticate the wild potential of, of technologies into whats familiar and we dramatically under estimate or under a match. And what that Technology May eventually do. It will 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 moves them money quicker. Dont know about the software that 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 in their lives, a little richer . The the since its inception in 1961. The great fund has been supporting peoples livelihoods and over 100 countries, by funding projects in an array of sectors ranging from infrastructure to health and education. These initiatives ultimately help to eradicate poverty and promote sustainable development. The most important thing is talking to people, understanding what theyre going through here. As a theater, we believe everyone has a story. Were hearing. The heaviest ratings for about 60 is around the river plate. The satellite picture maybe doesnt give the full picture. We get the idea, this is what happened just down stream from the service into the plaster, in northern option to those same childs moving north master uruguay. So during friday theyll be in the southeast present in paragraphs or warnings out the potential flash. I think because of that, leaving behind dries, but not very well by the succeeding brands. I read the wintry stuff that was pulling in the pompous couple of days ago, sleet and snow. Thats gone. I have time shopped about h in. Come a daughter that of you for the north in the continent luxury, its a drawn picture. We have seen or too big of shells around columbia, but i dont think well see very much more. Come out the sky here because the concentrations bit said the knowles big cheryl seemed very like the around the originals around. Possibly the bahamas attempts just coming down a little bit because with that also seems a pretty big jasmine lee. What dials are they coming through next . Just off the coast of mexico is how it can hillary is certainly affecting the weather on the coast of mexico. There been some flooding there because of the big share. It was the how the can itself would take a while, but eventually will come up towards san diego. But an immediate future is exceeding the way from the eastern side of canada. And further west, maybe some good news if hes putting cooler and went to the because of the war and you praise, run deep. But the devastation of the countrys precious ecosystems may take the longest to hear people and power documents, the environmental impacts of the fi, too. And follows the premium for prizes investigators as they collect evidence of what they described as eco site ukraine. Ground 0 on that, just as a i driven robots become more intelligent and more a ton. And this will lead out smart us. Do you think you could from the world one day if i ever decided to take on the world . Im sure i do a great job. Roberts, never get tired of sophia, one of the worlds most advanced human like robots, and ill be talking to algebra 0. The, [000 00 00;00] the laura kyle, this is the news, our life from the coming up in the next 60 minutes. West African Defense chiefs hold a 2nd day of talks and gone up, preparing for a possible military intervention officer. The crew in these uh us presenter bivens will be the leaders of japan and south korea to assign