Nor the people of new york more and remain open to dialogue. But let us be clear, if an attack were to bonds are taken against us, but it will not be the welcome to park. Some people seem to think g r i are you from here that are emission is not to confiscate power. I also reaffirm already and is to engage in any dialogue as long as it takes into account the orientations desired by the proud and resilient people of new year. Thousands of residents in western canada had been forced to evacuate. Their homes is 2 separate wild, 5 inch close to 5. 5 is a using a tank, isnt helicopters to build the yellow and i find northwest territories. And the mcdougall file in British Columbia as well. No one islands of mount research and recovery teams that continuing the grim task of finding the remains of wild 5 victims cruise from Washington State and california using cut out the dogs to search for hundreds of people who are missing off the wild finds, raised much of the Historic Town of the honda, the remains of at least 114. 00 people have been found so far. And investigation is underway on what spot the west wont pause in the us in more than a century. Big search area. Devastating fire. Not seen anything like this in my entire 30 years in the fire service and then just pretty significant incidents of intensity, the population density. All those things combine. Go to mountains, a heating to the polls on sunday and a president ial reynolds the scene as a test of the countries democracy polling station sit up and schools and gyms and being closely gathered by police. And the military forces will choose between congressmen panata out of auto. And sandra told us a former 1st lady pick with dorians, also preparing to voters in sundays general election under the shadow of violence and the assassination of the president ial candidates. The army has been deployed to deliver the election materials to polling stations to is rileys had been killed and is choosing in the occupied with the bank that happened to the palestinian town of who out of just south of nablus. The 2 men age 60 and thursday with tag is it bone by with inside a car wash is ready for assisted roadblock searching for the assailants. Theyve abram has moved from basically him. So according to palestinians, they say that these ready forces are reading different towns and villages close to us. A lot of we are the shooting i tag that has to do. Now. Weve also been seeing a lot of palestinians suck check points because these rates have closed so many check points that theyre viewed when theyre and manned by is ready for says we know that more as were editing and for some minutes have been sent to the area causing a lot of traffic but also most of the are usually what happens after certain shooting effects by palestinian is that is really set. There is attack villages, home people. So theres a lot of warnings, lets say, amongst us it is, if you dont have to move and go on, the roads dont do so because the fear in subtler retaliation you cartons and terry administer. Recently 7 people have been killed in a rush in the salo tech on the Northern City of china. His president , below them is landscapes is the messiah landed in one of the city. Central square is amazing is believed to have been taking place at the theatre, which included business and community representatives. So bob was president , samson mcguire has helped us bundle campaign, really a hit of a general election on wednesday high inflation policy and a weak economy. A key issues for versus opposition policies are concerned about conditions for a free and fair election. While the governing is a new p. If is confident of a landslide victory. Because the headlines, the news continues here on al jazeera after crypto type. You coming up next. The this is my Award Winning documentary, what bitcoin broke chains and web 3 that was 1st published in 2020. Since then a lot of things that happened. Global inflation rates have sold. The price of bitcoin 1st increased by the fact 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 shut down and its what appears to be outright from h. Hi made a feeling 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 something googles and the amazon. My name is tungsten hoffman and im 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 was already using it, making it really easy and simple for people to on a piece of a solid or what we saw. And go deep into a secret bunk of that holds billions in bitcoin, but they are those who want to kill it, joined with me and introducing a bill to outlaw crypto currencies so that we 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 full screen 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. Thats just what he does support free speech. You dont support big calling your in enemy of it. Point. This is bigger than the internet, the higher edge, the renaissance, the industrial revolution. This affects the entire world, the ok. 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 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. 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. During the financial crisis in 2000 a mysterious figure coats the toshi 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 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 part of rising figure, but big then he gave away thousands of coins to kick stopped the movement and they all called him big coined jesus. I think that for many years he brought more people to be gone 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 none of us, digital cash, the people can use on the internet. Its not controllable by anybody. And then when bitcoin came along, it was like, wow, the Science Fiction of 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 then 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 that rabbit hole was a point of physical exhaustion office. I called a friend of mine said please help me. I am so sick. Can you bring me to the hospital . Yeah, brought it that big bad by the big claim, but like so many of those funnelled 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 a key open source of boxes where you can securely store physical valuables like gold coins. And did clean their digital keys, think of them is very long passwords. 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 than adams in the universe. The doors to these boxes are transparent. You can see inside them. Heres one was digital, many 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 coils can only exist inside these transparent address. Boxes cant 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 pew electronic cash room, 77. 00. 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 this long address, you risk losing the money if you didnt type it correctly. So the 1st guy who built in the bible was some guy in brooklyn for built a in order to buy spear move his phone instead of his computer. So what if those slow, inexpensive middle man with a 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, but it was once we caught it in the block chain, or spend the same coin twice. 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 she and bit claiming that one of the women had no peace 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 adopters 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 which are cash. David gerad doesnt buy all the hype. Hes one of the most outspoken critics and skeptics of broke chain technology. Its not very good as a kind of system. Theres a small claimant use case if you want to trade in things, the government doesnt want you to trade in vets. Davids polite way of saying illegal stuff in 2011, most of my partner colleagues was saying 3 things here. So without the drugs pornography on sale, the silk road was a black market on the dock left with buyers and sellers use big coins to fly under the radar of the authorities. It had 1000000 uses until the f 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 critical 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 the cell grow 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 costs, 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 a bit coins 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 a movie song. Any file that 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 not care about it in facial pay. Yeah. But if you currency isnt stable, you might be a trillion and paypal and be debt 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 the reservation then 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 more than 1. 00 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 permissive. And every single country that is unafraid has a restrictive for band crypto 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 between . 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, thats 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 kind of look keys at your very point, if you dont use it, its not your big point. Your keys dropping point not to tease 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 before 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 near the 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 kristof washed 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 in 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 for security, but it was worth it. No other film crew has been allowed access. We are the largest custodian, if its 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 that 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 costs. 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 the freight, the c quite the weather is down there right now. Ill be allowed to assume that know that 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 ill kinda be in my basement. Thats why we started raising you basically, you still cant be sold, right . So, so this is like money these days. So yes, its a speed invite, 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 bang, steep 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 your 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 of 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 net worth. And if i am right, its going to be more than a 100 percent of your networks. So with a non material exposure, you would 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, check in 7 years. I either gave you by the advice on cost you a weekend or i want a grandkids because the ones that in 201718, 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 that group ultimately formed 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, its a few electronic cash that was the kind of 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 and its trucks. 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 queen as digital cache. Because a lot of the kids that weve already met the digital gold camp who opposes any changes to the protocol despite the high 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 one 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 between jesus had become the claim, judas, and they also split into 2 separate bid 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 establishment. Now the industry has grown so much that they are competing parties, propaganda, machines, conspiracies, theories, looks a lot like politics. The biggest fives within the big quite ecosystem 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 been cleaned. Cash. I think its fraudulent to say that and causing people to, to buy, they can cash when they actually want to buy big coins. They as the discounts and the cash thing is for mature, flushed and fall in between the army, according to the says the english. Why the doctor does . He calls them bitcoin because she calls time depression he has, has um, his theaters run his, you know, 3 of those and youre faced a bit coins because im coming up the machine explained and predicting the future of the internet. This 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 humans like robots, and ill be talking to algebra. Since its inception, in 1961, the quite fond 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 investigating the use and abuse of power across the globe now to 0, the to tell them okay, and uh, these are the top stories on al jazeera, the she is military for all that has proposed a 3 year transition of power off the west African Leaders made another attempt to the point diplomacy to reverse the co, the statement by general of the romani she on a follow talks with a delegation from regional block, a car was really neither the National Council for the safe guard of the homeland nor the people of new york war and remain open to dialogue. But let us be clear. If an attack were to buttons are taken against us, it will not be the walk in the park. Some people seem to think g r. I are you from here that are emission is not to confiscate power. I also reaffirm already and is to engage in any dialogue as long as it takes into account the orientations desired by the proud and resilient people of new year. Thousands of president s in western canada had been forced to evacuate their homes is 2 separate wall. 5 inch closer. 55 is a using in a tank, isnt helicopters to baffled the yellow, not 5 northwest territories, and the google fight in British Columbia. Because mullins, a heating to the polls on sunday, and a president ial reynolds seen as a test of the countries democracy polling stations sit up in schools and gyms and being closely guarded by police. And the military forces will choose between congressman panata out of hollow and sandra torres, a fullness this lady. Ecuadorian is also preparing to vote in sundays general election under the shadow of violence and the assassination of the president ial candidates. The army has been deployed to deliver election materials to polling stations will, to is rileys, had been killed and a shooting an occupied west bank. If it happens near the palestinian town of who are just south of annapolis. The 2 men age 60 and 50 with targets. Its while they were inside a car wash. Is there any forces to have road block, searching for the assailants . So you kind interior Ministry Says at least 7 people have been killed and the russian, this hollow tech on the Northern City of chinny chin, his present football demand, zalinski says the messiah landed in one of the cities. Central square is amazing. Is believed to have been taking place at this season, which included businesses and community representatives. With most of the headlines, the news continues here on al jazeera, of, to type in. Thats coming up next stage it the to i know, i know you want to find out what any of this has to do v as this new crypto p, a revolutionary internet will get that promise. But 1st, we need to go from big coins, original block chain, to hundreds of block chains. It back in 2011 when trying to leave us a google engineer. She wanted to foster and light a version of the tow. Shes crypto currency and was one of the 1st to experiment with the open source software. The actual quoting terms of the, like the code differences between the client, my client was actually pretty trivial. And what, what does that mean in time . Like, i would say like 44. 00 or 5 hours like 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 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 meant 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 as like a spreadsheet and is, there is like a spreadsheet. Weve macros. Using all analogy ac liam allows you to store crypto currency and computer code in the same secure 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. First 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, who 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 is that 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 ease or for one bit going. And thats how were going to raise all the money. It worked. Photonics 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 there 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, 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 a girl is 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 Designer of the book irene. I seal. Actually they just posted a photo of ryan boss. 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 coyness i think its just a derogatory term. People whose use on coins that they dont like for the climax, most people on the care about the claim. Everything else is claim sure there are tons of use this 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 solve this with real offices with real people trying to solve the real problem. But thats a big point mex, unless im a block change i seos i. E o s t os Small Contracts on easy them. Thats all just a waste of time. Very small, the staff, blockchain, round and slice through a health care industry. And the auto mall is, is what youre saying. Its a maximum of this point of view. Youre speaking about a, from a perspective pulse of a cult policy. My problem is that you 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 . Its almost like an evolutionary process right with block chains, fork. And they have the same as, as trees, but a daft of different environments. And we see dislike the ever increasing level of diversity and number of lock changed. So the, the idea that theres like one block chain going to be one blocks and its going to be fit for everything. It is almost like, disregarding the nature of evolution. Meanwhile, the big corporations happen starting crystal currency. And they think that big coins on the Line Data Base is whether magic is the model in the board rooms lump chain, not bitcoin. Back in germany, my friend oliver keeps tabs on the men in suits. He used to be one of them as fast. I, there was the name and these are up to maintain optimum is 10 in 1st as well as if i didnt course in order aspect on by being the get this on a, b, m, w is looking at using the block chain for the future fleet or electric costs to interact with public transport. Lufthansa 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. Ive a cartilage really came from full groove them for pack them and we ship them. You might wonder whats the point of production if its controlled by a company . Well, i compared to the open internet versus company own entrance. They both exist. Meanwhile, facebook announcer crypto currency for the 2000000000 uses. Such a system might be more efficient than a public doc chain, but this a 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 occupying wall 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 made 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 case where you can check back factual on a continual basis. I think some examples of this that were seeing in our major down finance which is finance for and thats actually much bigger of an opportunity because it represents something totally new. My name is dr. Jim grant 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 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 capital 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 entirely cannot assume the asset. It becomes tradable on an exchange. You might, i 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, bankers 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 golf chains, private block chains. Where is the collab . Well, adoption of new technology often follows our trends. My name is mark francesca. I am here at our distributors, oxford. Im a faculty. Im an 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 and system building. He 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. It takes a lot of work. Some of those innovations eventually become commercially viable. But Kansas Technology ever become as pervasive as the internet. I came to the Computer History Museum in the heart of Silicon Valley to find out. So you are 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 build the internet and landside, 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 2nd thing was a lead anywhere. And, you know, we pretty much had free running room. Yes. Thats the man who cool and 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 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, if you 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 new thing 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, f, as if it were simply outside of human and social experience. But we see our technologies that become shaped by a commercial interest by a political and Regulatory Infrastructure by actors who are acting for many reasons. Right . Yeah. Where do you want to remember bought the big telecom so wanted his thoughts on a little idea that were kicking around. They had a meeting where they were trying to figure out how they could buy the internet of things and 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. 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 to. 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 since using facebook, twitter, youtube. We can share all ideas or start a fight with anyone on the planet. Well, almost any, one of 65 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 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 try 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 the mysterious transactions. So she spent 0. 15, and now her letter outlining her story, and the french she received is on the public syrian block chain where it will remain on changeable forever. 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 bigger price. 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, somebody. 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 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 part of 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 you know, please even regulators government to, to build for us 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 egos 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 well, vanished with the shame being gone from big coined big kline. Its really a very decentralize and networking currency. He was intelligent enough to know that a 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 all fighting over the meaning of his invention and the inhabitants projecting the fetus and the fantasies onto his legacy. For some, its money for the internet. Let can replace middleman and bank the on bank and maybe a tool, a for alissa trade, or is it digital gold . A totally new asset class. A bit 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 that dreams a platform for federal finance, which is why incumbent and cited some say public block chains. Ill just slow and use this data bases. Well, big business is busy building private block changed to boost efficiency, or maybe this. The centralized technology is a new protocol layer for the internet. Upon which we can build a better web to de, 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. Less and 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 a spit 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 in their lives later. Richard, the the, hey, good to see. Lets go with your Weather Report for the middle east and africa. This breeze off Eastern Mediterranean has knocked down temperatures below 40 degrees and the level for the 1st time in a while. But this wind is also on the flip side, bumping up those temperatures in the rocks. So buck that up to 48 degrees on sunday, were seeing the return of the wind off the goal for us here in doha. So you know, the name of the game that is going to bump in that humidity here over the next little bit through pockets. Done fairly quite picture bit of activity up in the north there. But really central asia, things are where they should be for this time. Of the year now for turkey, a, temperatures and uncles are starting to slip after that heat wave that you had there, and still breezy through the boss for us. So as stumble coming in at 29 degrees west africa, or pulses of rain along the coast here. And this patch of rain moves out of nigeria into northern beginning. And so go that could cause some flooding. And you know, for nigeria is capital a boozer, we could see half a months worth of rain over the next 48 hours or so for southern africa. Looks like this. We do have a bit of rain moving away from the coast here and a week weather maker full bring a bit of rain and wind to cape town on monday. The the frank assessments 3000000000. 00. Is it going to be enough to get, i guess, on the economy back on track . The short answer is no informed opinions for those who are attempting to flee to chat. How dangerous is that journey . It is incredibly difficult for many people to manage to get out, but its a great cost in depth analysis of the day. Sidelines questions really who controls that goes on an outer space in the future will be governments for wont be big, private corporations and individuals across the building. Theres inside story on al jazeera, the a 3 year transition until civilian rule. Thats the proposal from the shares qu, leaders as they tried to stave off military intervention, the hello, kimberly how good this is al, to 0 life, and also coming up thousands more people leave their homes as British Columbia as wildfires ripped true, North Western canada, the stage is set for spain and england, sidney house, the fee for womens