A major part of the population. And sticking with facebook and labor for many here in the liberal white paper there were references to their blog chain promoting what theyre calling an open identity standard essentially the idea behind indemnity in this regard is making a way for users to be able to have a fully verifiable digital version of identification that would work throughout the internet sort of walk us through how this technology would work and the specific benefits of this kind of identity. One of the key problems with this emergence and as we go over to doing more and more online and having more of our lives online has been this. Disconnect essentially between our physical lives our physical identity and being able to prove you know flawlessly that this is the same individual and in all. Line capacity and this just hasnt been done to an adequate way and so this is a you know a very exciting part of what facebook is trying to do and were very big fans of open identity systems and open frameworks however one of the issues here is that it isnt an open identity for all because its actually leaving you know the population because it is requiring an identity and because it is requiring a bank account it just fails to really solve the mission for the mass population. Now a lot of the use cases for block change technology are really meant to benefit the 3rd world countries that have less of a robust infrastructure than that of the wild for instance rim and services they can be wildly inefficient and banks think companies that provide the services charge outrageous fees tell us about the problem and how can help to improve this upon the broken system. This is one of the key problems im very excited a blog chain being able to solve an already is more efficient than many of the solutions out there and according to the world bank there is a remittance costs on average of 6. 84 percent but this can range from 10 to 20 percent depending on the country and depending on the amount that youre sending and this is just taking away hard earned funds and money from the lives of people to be able to feed their families or to be able to send their kids to school and this is a key problem and so change can definitely serve as part of the solution around this being able to send funds around the world instantly and one of the key things with this from the United Nations standpoint and one of the Un Sustainable Development goals is to bring this cost below 3 percent however theres actually a key probably. Im here with Money Transfer operators are m. T. O. Such as Western Union one of the things that they do is to be able to control what we call cash points and that would essentially be physical shops or postal offices where you can actually convert and get cash in your bank account the physical cash and what Companies LikeWestern Union do or Money Transfer operators they make these post offices in the shops sign exclusive contracts for very long periods and this actually causes a very big problem because even with using Block Chain Technology they may actually create a savings for the Money Transfer operators but those savings may not actually pass on to the end consumer because of these exclusive contracts which will prevent any sorts of competition against them and ali just quickly weve also heard the blog chains open and transparent nature can do things like creating land registries in many underdeveloped countries in haiti for instance records are kept on paper which makes them easily lost altered or perhaps corrupted or destroyed how can this all be corrected with log chain. That is a great question and theres not only is it in haiti but all around the world i mean in the United States there are small towns still with records on on paper but but essentially everywhere theres still this problem and so one of the things where blog chain can have a very big impact is by digitizing these records and putting them on an immutable ledger were able to help stamp out things like fraud and were also able to deal with issues such as natural disasters or corrupt governments and so in the case with haiti and natural disasters you know even if youre displaced and you dont come back the next day you might come back you know a couple years down the road or your family might come back 10. Years later there will still be immutable record of the property that you own you know 10 years down the road someone else may have moved into that property but there can be processes to actually ensure that youre compensated for these amounts or for for your property and so this is actually a really improved porton innovation that can also help to deal with changing governments and all sorts of factors that are changing it keeps this stable set of information there for the future and so i think thats a very important component and more importantly when you also paired up with for example a block chain based on your line Financial Service system and you see a lot of. For example Money Laundering or Terrorism Financing or drug financing where this money gets washed through you know the Banking System in the. Real estate for example youll be able to essentially pare this and stamp a lot of this corruption that might deal with real estate so this is a very exciting area to have learned registries using. The managing partner with a block fund and consultant to the United Nations thank you so much for being here. Now and theres always new developments in the kryptos journey today were going to take a look at some of the all coins that have been garnering a lot of attention lately while its still too early for all seasons to officially begin we have a lot of standout strength and coins like grin these systems and bats these guys managed to shrug off bitcoin selling pressure and stay green do they do to their impressive pipeline of updates coming online later this year to give us more of the latest developments welcome back rockie miller c. E. O. A bit so young. So i mean rocky what is what is grand right now this is one of the most exciting crypto currencies out on the space and why is number one ball so important break it down for us. Yeah its an. Wimble is the protocol that was put forth in the bitcoin chat rooms to address improvements in the big network and the improvements for specific to privacy improving privacy and scalability so the way that privacy has improved is this implementation of this protocol does not require public addresses or transaction history so its hard to trace transactions or know who you know who that originated out of the transaction is so this greatly improves privacy and on the scale ability side theyve addressed this through more optimized use of data space usage so making nimble wimble nimble essentially and the grid essentially is a is a token or implementation of nimble wimble now the interesting thing with grid is they have employed a resistant. Consensus algorithm which which means that theyre trying to make their consensus algorithm not favor like large miners that can basically buy their way into. More expensive hardware and thereby control more of the flow of grid so very exciting project nimble wimble is you know exciting since it came out it shows the strength and adaptability of the big question framework so a lot of excited people about it there are. Maybe the most hyped c. E. O. In the history of. Last year was a record 1700000000. 00 through a token sale that was limited to accredited investors now its ground token will go on sale to regular crypto buyers for the 1st time in july but apparently people in the u. S. Japan and korea are not allowed to participate. How does that work and do you think the u. S. Is making itself competitive by being so restrictive in some opportunities to. Yes lets talk about this token sale of a little bit whats interesting is that the tokens can be listed on the liquid exchange 9 believe it starts july 10th and this is not agreement between the liquid exchange and telegram the telegram is not posting these tokens there is an entity called gram asia in korea theyre the ones that supposedly the largest token holders in asia theyre the ones that are listing these tokens the quantity price is unknown at this point so its really more of a secondary offering at best and with other exchanges involved at this stage still addressing the. Issue of regulation i think you know the u. S. Has the longest established regulations and unfortunately sometimes you cannot have your cake and eat it too the regulations are there to protect investors and until and unless you know regulations feel like these listings and offerings are protecting our investors Retail Investors its going to be its going to be uphill climb so yes there is definitely opportunity lost in some instances but you know the u. S. Has been here for a long time doing this and you know it will continue being conservative in this space but i truly believe that it will be concerted conservative to a point of losing out on all this innovation happening globally and really quickly remind us all again what exactly does a ton do and how is it different from all of its predecessors in the way that some of the setbacks. Yes so. Its been called is the Telegram Open Network essentially it is telegrams response to a theory m it will be a big vision is a decentralized internet with the ability to build decentralized apps on it that will focus on both payment communications as well as other other decentralized applications. Now the interesting thing with telegram obviously you know as as weve just mentioned theyve raised 1700000000. 00 they have over 200000000. 00 users and growing it is it is the defacto application that most people that get into crypto currency use and are actively using so the power of the organization and the Development Community around telegram is vast and its going to be very interesting to see how they come up. To speed and you get in the game with the theory of the applications that are going to develop because they do have a captive audience rocky millers a sealed bids you know thanks so much for joining us. Thank you for having you guys. Time now for a quick break but hang here because when we return based plans are a common occurrence in business but on the other side of the break we take a look at the biggest with me seen in the sector ill be back in a flash. My 7 years doing drugs my nephews was still in drugs my system just with doing drugs it was like an epidemic of drug abuse americas public enemy number one in the United States. Drug abuse we started going after the users in the prison population. We started treating sick people people who are addicted to these drugs like criminals while i was on the hill who simply became convinced that the ready war on drugs was on the stand there are countless numbers of people who are in prison for inconceivable. Sins for minor minor offenders in the drug trade its a lot watching your children grow up and miss you in wave and say by day as youre walking out of a business its just it doesnt get easier. Its something wrong with being a wretch and being rich is nothing wrong with it people work hard they make a lot of money and for a lot of people thats very satisfying but when you become a patients monopolist and you are heading up like in the pharmaceutical industry one or 2 or 3 major clock to kratz collusion colluding monopolist unelegant plus pricing thats not right stats tied around a. Magic mushrooms use down some concepts used in the wrong way carry every potential. Its like any any psychoactive substances. But its used in the right way they seem to have quite. Profound therapy to potential quite a good safety or a flawless one. Dish you will not obey the voice of the lord your god will be careful to do all the school long months and. Then all these courses shall come upon you and overtake you. And then the white people the stolen property. Must pretend to let. You get rid of whites only the problems will go away. With and the. President of the. People being tortured to death expression the elderly people in the. Leg in the face why of course will find themselves affected by. What it would give means in greens its all sweats and a lot of. What are you going to have for dinner today we dont have anything im asking for a. Civil war in south africa is you never to. Profit from. And be in the code of europe and to gain. Hes the tech entrepreneur some people love to hate it one must be the marketing genius who hasnt quite the career news to be a media darling but now his Media Relations of take a turn for the worse and controversies keep piling up our correspondent in tata sweet takes a look into some of the factors impacting musks reputation from los angeles recognized for many tributes musk is probably most widely known as well. As no question that hes successful really a lot of money is not without controversy born in south africa 48 year old elon musk has helped to start at least 6 Global Companies and growing Technology Entrepreneur investor and engineer was listed as the 12th youngest billionaire on forbes 400. 00 list he has a net worth of 22300000000. 00 according to forbes hes the 40th richest person in the world and in december of 2016 he wasnt ranks as one of the 21st most powerful people in the world for nothing hes the cofounder c. E. O. And product architect of the electric Car Company Tesla pay pal the online Payment System worth more than 15000000000. 00 was cofounded by musk hes the c. E. O. And lead designer of space x. The Aerospace Company is reportedly worth more than 33000000000. 00 hes the c. E. O. And cofounder of near a link a Neuro Technology company that develops implantable brain computer interfaces traffic is soul destroying its like acid on the soul its horrible after living in los angeles for 16 years must decided to take the issue of traffic into his own hands unfounded the Boring Company hes proposing underground tunnels as a way of relieving congestion on the roads the system is designed to do over 250 miles an hour through the tunnel and i mean would it be credible if you could travel around l. A. D. C. Chicago paris london anywhere at a 150 miles an hour phenomenal hes also the cofounder and cochairman of open Ai Research Organization developing Artificial Intelligence but now theres been a few incidents that received quite a bit of Media Attention and its happening on twitter there was a bit of a war on the social media platform with british diver Vernon Unsworth who assisted rescuing tall boys and their soccer coach who were trapped in a cave it all started when musk offered to send in a Drilling Team and a mini submarine to thailand to help speed up rescue efforts after vernon called musks kid sized submarine a p. R. Stunts must didnt hesitate to respond on twitter the twitter spat escalated with musk calling vernon a pedo guy meaning a pedophile he soon after deleted the tweets and then the controversial podcast with joe broke it. Probably cant because stockholders werent. I mean its legal right so legal ok how does it work do people get upset at you if you do certain things. Back oh and marijuana in their well cannabis is legal in california the stockholders did take notice teslas stocks plummeted as much as 10 percent after the podcast to Senior Executives also resigned just hours after the interview aired other tweets from us resulted in an f. B. I. Investigation and 2018 federal agents began looking into whether tesla intentionally made public statements of impossible production goals musk said looks like we can reach 20000. 00 model 3 cars per month in december another tweet from musk about possibly taking test the private resulted in a combined 40000000. 00 in fraud settlement fees and must relationship with the media took a turn after tweeting he would create a website that would track to credibility score of journalists editors and publications this was before mask reportedly told the New York Times in an august 2800 story. That he used ambien to help him sleep article or poorly concerned teslas Board Members will not specifically related to must twitter account the death of 4 tesla drivers using autopilot did raise questions about the car safety but not enough to stop people from buying the car just this week when the Financial Experts test is on track to telling both cars. In los angeles in march suites are to. Microsoft cofounder bill gates recently made news by describing one of his biggest regrets while he was still the head of one time worlds most valuable Company Gates said he wished microsoft would have gone toe to toe with googles android to come up with a solid alternative to compete with apples i os in an interview with v. C. Firm village global gates said of the situation in a Software World particularly for platforms there are winner take all markets so you know the greatest mistake ever is whatever mismanagement i engaged in that caused microsoft not to be what android is that is android is the standard non i phone platform and it is amazing to me that having one of the greatest mistakes of all time. Currently enjoy makes up roughly 75 percent of mobile operating System Markets apple accounts for just over 22 percent the other operating systems are barely blips on the radar microsoft has tried over the years with a Windows Mobile operating system but they never really caught on what gates is talking about here is a full fledged effort to make a universal alternative to apple similar with what they did with the windows operating system on desktop and Laptop Computers competitors have come and gone but windows is still on 80 percent of systems so we wanted to break down some of its missed opportunities in the tech sector and some near failures by some of the giants in the industry and joining us to discuss this in detail is investigative journalist ben swan so ben what do you make of this claim that missing out on Android Market is his biggest regret and how much bigger would microsoft be today if they were dominating the smartphone operating System Market the way that google does with android. Right i mean i think thats thats the big question that nobody can even fathom that world right because it doesnt exist but in some parallel universe somewhere bill gates made the right decision and he went head to head and he actually created an operating system on the smartphone i think what you have to look at here is a lack of vision that bill gates did not for c. That eventually all phones and our primary phone would be or excuse me computer would be on our phone in our pocket and i think he just didnt recognize that you know obviously microsoft has focused very heavily on Desktop Software and they focused heavily even into the Search Engine world with being it which has never really caught on either but they did not really foresee i think the fact that that computer would become so small and so useful within the context of the cell phone they just didnt see it and so they wound up losing out on the again as you said an unimaginable future now sticking with the Smartphone Market one of the biggest mess as we saw in tac was the 20008 blackberry storm and at the time the i phone was the latest and greatest thing and really sent the Smartphone Market into hyper try but at the time blackberry was doing very well in the market mostly with the professionals who love their keyboard easy access to email on their phones but they rushed out the storm and theyre buying touchscreens fail to keep them relevant in the market so i can tell us about that. You know blackberry is almost like an urban legend when you talk about it now right it was like some people remember the blackberry and others are like what what was the blackberry and when one thing that made blackberry so unique and really they were the Market Leader you know people will forget this but before apple smartphone and before of course android blackberry was the you know Market Leader in this space in part because of privacy issues remember that those blackberries were very private they had Great Security on them the. The function was terrific people like the keyboards but one of the things that got blackberry in trouble was the arrogance of expecting the market to wait for them remember that part of what delayed them was that they made a deal with adobe because they wanted to wait for a chip that would be Strong Enough for flash on the phone and so they they actually stalled a lot of their technology along the way because they were such of a force in the market that blackberry expected the public to wait and the public did not wait they got left behind you got to be able to innovate blackberry did not do it and speedy a missed opportunities ben lets talk about kodak which we do behind the scenes here the photography giant that found for chapter 11 in 2012 theyre also the Company Founded 130 years ago but he also invented the idea of digital photography but somehow never embraced it as point shoot digital cameras became the norm and now all of the standard is having a camera in your pocket what happened with kodak here you know kodak is a is a fascinating story and i think its almost a story of how some companies their time just runs up you know youre absolutely right theyre the creators of a lot of film processes they were 8 primarily a film company not a Camera Company and youre also right that they invented digital photography i think it was sometime around 1905 or they 1st actually created this and believe it or not kodak actually did so a lot of digital cameras over the years the problem was that their primary Business Model was selling film not selling cameras thats where they made their money was in film and now they went through this process of watching essentially the market say we dont want film we just want the cameras and now today that only when the cameras anymore its all on the phone and so what kodak is that to do is essentially watch itself become kind of the horse and buggy theyve watched people move away from them and there is no desire for their products anymore and its kind of interesting too because kodak is now in the block chain space and theyre trying to make something work in that space but maybe there are a cautionary tale of some businesses dont just dont last forever they just simply dont copyright on black came by kodak going to be interesting a lot of and i think and analyze and so on thank you so much for your time. Guys thanks. For that that by this time you can catch on directv channel 321 dish network or streaming 247 on t. V. The free t. V. Ad count to 79 oreos always had us up at you tube dot com slash boom bust archie see you next on. What politicians do. They put themselves on the line they get accepted or rejected. So when you want to be president. Or somehow want to be rich. But you want to be close thats what before 3 in the morning can people get. Interested always in the waters of college. There should be more. Exists is a sticker from the open water bottle found in the stomach of the fish the brand is spawns of the Cocacola Company which sells millions of bottles of soda every day the idea was that lets tell consumers there are the bad was there the litter bugs are throwing this away industry should be blamed for all this waste the company has long promised to reuse the plastic. As the seeds do cookouts lose excuse so. That soon school sets in their classes kristie stay close stay on your special projects funding you tell the difference and. On the line your best bet is the end of a footy team fun now the mountains of waste only grow. Something wrong with being rich and being rich is nothing wrong with it people work hard they make a lot of money and for a lot of people thats very satisfying but when you become a patients monopolist and you are heading up like in the pharmaceutical industry one or 2 or 3 major cluck to kratz collusion colluding monopolist and all accomplice pricing thats not right stats time around and. Im im im. Im. Trove of classified documents is found in a rubbish bin in london and its deeply embarrassing blow to the u. K. s top secret chemical lab facilities. Investigation has been the. E. U. Commission president to show the slums the lack of transparency when his lucky success it was if we dont believe that its asked questions regarding millions competence. Youre wrong says its oil supertanker was illegally seized by the u. K. And demands its release which insists the vessel was bound for syria in violation. Of child impersonates although americas youngest ever congresswoman delete slow social media accounts