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Detailed text transcripts for TV channel - DW - 20190619:01:05:00

Have you the idea is with facebook s libor cryptocurrency anyone even without a bank can get this online currency account and they can deposit money that they have into this account so even if they re robbed in person they wouldn t lose everything and that would be the basis of a digital identity system which could help to administer aid for non-profits or assist with citizenship and taxes and migrant refugee problems and just let me just ask you this before we run out of time we re just getting the report right now bet a senior u.s. lawmaker a member of congress wants a hearing to be held on facebook s move into crypto currency is that something that facebook should see as a positive or is that a negative. that s definitely a negative but facebook has been shining to work with regulators and it s said up front we re open to discussion we re not trying to replace sovereign currencies ....

Mo Ney , Basement Scripta Currency , Refugee Problems ,

Detailed text transcripts for TV channel - DW - 20190619:01:04:00

We heard that this is supposed to be a really big boon for people who maybe would not have access to having normal banking account people in the developing world. i ve heard that a lot of jargon today about on and off ramps into a new. a money ecosystem for example isn t there a huge gulf that still exists between silicone valley and sub-saharan africa when we re talking about crypto currency. absolutely most people think of crypto currency is a way for people in the west to get rich but in reality there s a huge potential for them to assist the unbanked evil of which there are about 1700000000 around the world because if you don t have a bank account it s very tough to get credit it s to if you get robbed you might not have anything left to say your name whereas if you have a bank account it means you could then take out money to pay your bills or what ....

Money Ecosystem , Sub Saharan Africa , Silicon Valley , Basement Scripta Currency , Crypto Currency , Mo Ney , Bank Account , Around The World ,

Detailed text transcripts for TV channel - DW - 20190619:00:03:00

There i m joined tonight by josh constant he s editor at large at tech crunch that s an online publisher focusing on the tech industry he joins me tonight from san francisco josh it s good to have you on the show so put this into perspective for our viewers around the world is this the beginning of a of a new age in crypto currency. this is definitely a new era for crypto the previous era was dominated by these very nerdy currency is that were mostly good for speculation you might try to buy low and hope people buy after use the price skyrockets and you could make a fortune but basement scripta currency is totally different it s not designed speculation and prices it s supposed to change at all instead is designed to let you pay for things in online shops or even in person or pay back friends with very low fees skipping those 4 percent transaction fees you often get with credit cards ....

Josh Its Good , Josh Constant He S , Tech Industry , San Francisco , Tech Crunch , Basement Scripta Currency , Price Skyrockets , Transaction Fees , Credit Cards ,

Detailed text transcripts for TV channel - DW - 20190619:01:03:00

There i m joined tonight by josh constant he s editor at large at tech crunch that s an online publisher focusing on the tech industry he joins me tonight from san francisco josh it s good to have you on the show so put this into perspective for our viewers around the world is this the beginning of a of a new age in crypto currency. this is definitely a new era for crypto the previous era was dominated by these very nerdy currency is that were mostly good for speculation you might try to buy low and hope people buy after use the price skyrockets and you could make a fortune but basement scripta currency is totally different it s not designed speculation and prices it s supposed to change at all instead is designed to let you paper things in online shops or even in person or pay back friends with very low fees skipping those 4 percent transaction fees you often get with credit cards ....

Josh Its Good , Josh Constant He S , Tech Industry , San Francisco , Tech Crunch , Basement Scripta Currency , Price Skyrockets , Transaction Fees , Credit Cards ,

Detailed text transcripts for TV channel - DW - 20190619:00:05:00

What have you the idea is with facebook s libor crypto currency anyone even without a bank can get this online currency account and they can deposit money that they have into this account so even if they re robbed in person they wouldn t lose everything and that would be the basis of a digital identity system which could help to administer aid for non-profits or assist with citizenship and taxes and migrant refugee problems and just let me just ask you this before we run out of time we re just getting the report right now that a senior u.s. lawmaker a member of congress wants a hearing to be held on facebook s move into crypto currency is that something that facebook should see as a positive or is that a negative. that s definitely a negative but facebook has been trying to work with regulators and it said up front we re open to discussion we re not trying to replace sovereign currency is ....

Mo Ney , Refugee Problems , Basement Scripta Currency ,