Banking industry the Banking Industry has been rocked by one scandal after another in recent years. But this failure to get impetus to the emergence of new web based technologies such as the block chain. And get over that these are currencies that could have the middlemen and banks where there are no banking monopolies and were above all the state no longer has the sole drug of in the creation of money for hutch. But its about more than just cash. Option taking a lot shame technology will completely revolutionise large parts of the many Many Industries that i would assume youre. Far from the executive floors of banks skyscrapers the block chain revolution has long since begun for example in berlin kreisberg where Restaurant Owner a young plats has been pursuing his vision of a World Without banks for more than twenty years. He is fighting for an alternative Monetary System his weapon is because i was you and if you want to imagine a superhero currency and say hell with the money work that superman and batman might use you start fantasizing and you come up with Something Like that korean among those of us the tribal group of course. Bitcoin the money with alleged super powers is used here regularly the smartphone replaces the wallet. As we have its from well i already have better point on my phone in the form of its now i have almost a whole point on it and i click on send. Its already there its already there that the banks play absolutely no role zero in this transaction i just made a bank for repayment. Until now Money Transfers have usually involved several banks that costs both time and money because one doesnt need a bank anymore extend i reckon through blocked Chain Technology and is encrypted that could even make Central Banks a fair fillets. The blotching network regulates itself because all transactions are stored on numerous computers. Scammony have no chance at all say bitcoin supported. Jerk plots the fifty year old restauranteur lost all trust in the Financial System long ago hes disillusioned with the Global Finance structure. I believe that our economic and Financial System is facing very Serious Problems and these are getting increasingly extreme. And also increasingly damaging to our society. They are widening the gap between rich and poor. And weve also created a system we have a class of bankers who answer to nobody. Uses like platts are calling for change they say the people not the financial world should control the money because im good with this currency nobody needs middlemen nobody needs banks nobody needs permission to use it you dont have to show an id card get a credit reference or fill out an application you just download a program or enough and then you can use a bit calling quite easily. The billionaire was the first Restaurant Owner in the world to accept bitcoin as a means of payment hes convinced Digital Currencies are already competing against the old ones. Simply gillman an economic and financial policies. Governments and the banks are driving people to bitcoin that corner of the world is that simple the financial crisis doesnt seem to be really over so confidence in the euro is too when dealing with confidence and that kind is rising and you can see that clearly from the Exchange Rate as well because all. Austria is in the grip of cryptocurrency feeder. Based at a prime location in downtown vienna but delina is cant exchanges hard cash for virtual money. Her clients are anything but confusion and. Since your lot isnt teeny theyre young people have teenagers who see it more as a lifestyle product and think bitcoin is cool i or that we have twenty to forty year old spa people who see it as an investment but also elderly people i had an eighteen year old who also wanted to trade the currency i explained to him how you trade in crypto currency he got it and was super happy. For it the big cash machine is a customer magnet its one as youre a nurse and spits out digital coins into a smartphone based online oneness with in seconds. The german business woman had good reason to choose piano for her operation. To get her last trio sees it as a digital commodity and treats it Like Software that means you dont need a license from the Financial Markets supervisory bodies in contrast to germany where you need a financial intermediary license to trade in bitcoin. The austrian press has dubbed her the bitcoin queen. Marked elina is brand sells thousands of euros worth of because in every day. Demand is strong. Of course people are interested in the returns they can get a lot of them want to get rich. Its no wonder bitcoins crazy price history is like something out of a hollywood movie. Erik finn mn an american teenager made headlines around the world after the one thousand dollars he invested in bitcoin when he was only twelve made him a millionaire just before his eighteenth birthday. But they have recently been some sharp falls east and advises her clients she has a very simple long term strategy. If that whole yard rather placed my trust in mathematics cryptography and technology then any third parties are banks. Not trying to knowledge me is a decentralized database a sort of register sums of money shares and contracts are recorded quickly cheaply and without intermediaries such as banks. Entries cannot be changed. A number of blocks of Digital Information form a data chain this is the socalled block chain and it is totally secure. Copies are stored on thousands of computers and any attempt to manipulate them would quickly attract attention. Because it is the best known block train application. In japan it has already been accepted as an official means of payment china and russia are skeptical. But many uses are smitten but. For some i think the whole thing is revolutionary somehow well i dont want to say that it challenges the state or banks or whatever but if you look at the whole Economic System you can see the problems that crop up time and time again. And then suddenly big point comes up with this idea compresses it can often you read it through but you go into it a bit deeper and you start to look at blace and the whole Technology Behind it and then you increasingly realize that this is an idea that can really work because became really pay off really function. As a start its going very well we should be in the black by the end of the year and our goal now is to have thirty stores in three years with the next ones opening in london and stockholm later this year. And it is south. Viennas Postal Service now even sells bitcoin vouches proof that the block chain revolution is even reaching traditional companies. But there is also a dark side particularly in its early days that coin was seen as gangster money because the anonymity of the transactions meant it could be used to launder cash and buy and sell weapons and drugs. And power plant check have to cleared war on criminal activity they founded the internet start up but panda about two years ago in vienna. Today its grown into europes largest cryptocurrency exchange. Customers can change heroes and dollars to buy big one and other critter currency. As a v. M. So we have in the region of a million in sales today both buying and selling the positives and withdrawals are even higher so that of course comes on top. Of pure sales or work just over one Million Euros a day. While many Crypto Exchanges operate in gray areas or prohibited the german Austrian Team is setting the highest standards. They want everything to be as secure as the bag. They have and im finding is that this year we said from the outset that we were serious about the. Transfers from euros to bitcoin in vice versa must not be anonymised and we must have verification for each customer. That this is exactly the same sort of verification that you have in europe today when you open a bank account online. Customers can now pay via credit card or online banking. But even getting that fine has been a struggle. To bank not understood the banks gave us zero support they avoided us like the play it took us five us are. Now its the other way around. And now they come to us and say hey why dont we do a project together so now we have the choice i never thought back then that things would turn around so fast that. Investors around the world are pumping billions into and as yet still unregulated markets. So is the superhero money a better method of payment compared to the euro or the old. Germany central bank the bundesbank doesnt think so the guardians of the official currency have been watching their internet rivals closely. The banks management cant understand the hype around cryptocurrency these kinds of yvonne and core and warn against it coin look to especially with regard to the speculative aspect one bitcoin is worth anything from two hundred to two thousand euros so anything seems possible. Speculating and it may pay off but it can also go wrong so we would definitely advise against investing in. The problem the currency guardians have is obvious for decades. They had sole control over bank notes and coins. But they cant control blocked chains. Isnt it love conduct this is a race that controllers cannot win doctrine zero point in block chains offer a whole new level of evasion because its global because its international because it has no homeland its beyond any regulatory reach to prove. In order to understand the opportunities and risks the federal bank has are working with the German Stock Exchange to create their own block chain. Thats my willing to admit that we may have already gone as far as we can with conventional technology in other words in the conventional Monetary System or are at least getting close whereas with big coins or block Chain Technology the limits arent yet clear. Because. And what about the banks have they underestimated the danger and fail to recognize the threats block taint acknowledge she poses to their Business Models why does one need a bank at all when one can transfer money without one the banks are now belatedly trying to get in on the act because its not isnt were looking at all these topics not because we want to defend ourselves against them but because we see opportunities to generate really new Business Models and new solutions for our customers. The potential of the blocked chain in the banking world is huge. It could make expensive financial supervisory bodies obsolete if the best way to cut out their middlemen they could save billions but the technology is still in its infancy. Block chain. Chain as such cant yet provide the capacity for the rapid transfer of the millions of payments made every day. Its. Replete with plans for you. This is tim is however already making some aspects of banking easy and fun. Chain is a lot more than just a bad point spread coin is a crypto currency its very well known and right now its very popular blog chains can also be used in many many other areas and banks can use them in their lending business or in their trade finance business are big banks around the world are researching block Chain Technology because they want to keep up with its development they are particularly interested in block chains where they have sole access and can call the shots in other comments i believe that well see commercial solutions that will involve total anonymity just like the botching and well also see the sort of Regulatory Framework that will really allow us to use these things commercially and securely since the current. Some of those working on this world of tomorrow can be found in berlins backyards Young Program is from all over the world. Thirty one year old kids stuff yet knows all about the new technologies and advises corporate bosses on their development and applications. The block chain revolution is like a steam roller and every day brings new projects and new worries. Response incredibly exciting but its also nerve racking watching the account balances go up and down or being responsible for the security of a system with billions its really scary. For floyd. The block chain jaensch and others are working on goes way beyond bitcoin. It will not only revolutionize Money Transfer but contracts of all kinds. It will allow complete strangers to deal with each other directly one foot in mathematics and cryptography as long as the system runs this program and we know exactly what will happen if you enter into a contract that specifies an amount time and condition then you can be certain of the outcome eliminates the need for trust. Trust in the code a revolutionary idea. But yet she wants to take things even further. We want to give things their own Bank Accounts for example i can go to a bank today and open an account as a private person or as a company but my car cant open my charging station or knock on my locks were connecting things through the block chain so that they can accept or make payments and enter into complex contracts. Is going to visit a test customer on behalf of a big energy provider. Her star sharon charge is trying to solve the most pressing problem facing electability germany has too few charging stations stand starts at least as. Sharon charges a way of allowing electric car drivers and charging station operators to make ad hoc virtual transactions. And they can do this without entering into a contract or even knowing each other before hand. That works through the block chain about a block and. There are an estimated forty five thousand private charging stations in germany in the future their owners should be able to provide energy to customers via and up directly without any credit card all Service Charges vehicles will be able to charge and pay autonomous levi a preprogramed contracts machines paying machines in other words. Vehicles will communicate with their surroundings without any human agency. Their digital wallets will pay sensors to keep Parking Spaces free. Block trains will even allow them to top up their batteries and pay for the charge by induction loops or traffic lights. These might all be very small turn. But without luck Train Technology they couldnt happen little. Bagatelle but its all fan thats why i believe this will become more and more important in the future even though theres still a great deal we dont know simply because we dont yet have the experience. And. The Reason Companies can trust machines to make autonomous transactions is down to the high level of Data Security in the block chain. Doesnt stand a chance against the Computing Power of the networks. Business sectors where fraud and mistrust are rife have great hopes will block tainted knology. The diamond industry for example loses billions every year because of counterfeiting and blood diamonds sit if its of authenticity are usually only available on paper and can easily be faked this illusion is to deposit an immutable fingerprint for each diamond in a block chain creating a Digital Certificate listing the unique identifying features for each stone. Meanwhile american i teach i and i. B. M. Is planning to introduce block Train Technology into supermarkets with the aim of increasing food safety. Block trains will be able to show the origin of meat for example. Or what temperatures it has been stored as. Some six hundred Million People worldwide fall ill every year after consuming contaminated food. The data chain can monitor steak and schnitzel supply chains at every step from the slaughterhouse to the refrigerated counter all you need is a smart phone. In the very end capital munich the United Nations World Food Program wants. To revolutionize the fight against hunger. Banhart and his International Team are already organizing donations and deliveries digitally. One particularly promising project is aimed at solving the huge problem that many refugees face. Millions have lost their families money and homes as they flee war and persecution. In places like the camp in the jordanian desert they are provided with the bare essentials for life. The aid organizations time is difficult and takes enormous effort. Seems to offer a solution. To. The heart of the block chain age of the refugees has a virtual account in the block instead of having this account with a bank we can use the block chain to handle individual transactions. The advantage for us is clear instead of making ten thousand individual transactions each month via a bank for example we can simply settle up with various businesses once a week. Because. The Syrian Refugees pay for their purchases its. Were now trying to roll out the program for up to one hundred thousand people in jordan by the end of the year and thats whilst also starting in other countries we believe we can save several Million Euros a year in bank charges in jordan alone which we can then use to buy more food. Its a new concept digital identities for people who have lost everything. The capability of the black chain is you could record a lot of different type of information on the black chain so for example like a lot of refugees displaced they lose their papers they basically have to start from square one they dont have education records etc if you begin putting those things on the black chain then it becomes an immutable record thats also transferred across borders. Anyone with access to radio or the internet has access to blocked chains. Over in switzerland in the tranquil town of took south of zero time seems to have stood still. But in fact the Digital Future has already arrived here. Has been the towns mayor for ten years has brought the block chain revolution into local government. Using baseline appeal and used all those were a bit of a pioneer town things have always worked well when we are transparent so we really have to do this of course you can argue but the sort of thing until the cows come home there are hundred arguments in favor one hundred against and you end up doing nothing but thats what it takes in switzerland and probably elsewhere especially with new technologies just try it out get i wouldnt. Suit has now become the first local authority in the world to accept crypto currencies. Its very saw this is how it works you can go to a residence Registration Office register or d. Register yourself purchase a few of the services and pay bitcoin it works wonderfully from mobile to mobile or as they say today from peer to peer. Its very fast and the transactions are secure so we arent squandering any taxpayers money its also here for floyd to dawlish tell you go. This is official pilot scheme has had a signal effect and transform the alpine town into a blocked chain valley. Whats it is now hotspots on the global block train scene mello wants to take things even further to ensure the thirty thousand inhabitant Community Keeps up with the digital ais ation avalanche. The amazon. Or years now we have a new project also a beautiful world First Digital the identity. There are various different methods told were using the block and. This would mean personal data would no longer be stored on Central Government service in the future every citizen would manage his own digital id card safe from prying and manipulation of the moment through all that means nobody has control and can demand fees or the worst Case Scenario establish a monopoly and then exploited negatively so the whole thing is a bit an archaic but in a good way it gives people more opportunities to decide things for themselves. So its a. Block change technology is moving from digital anarchy into the real world. It has already arrived in boardrooms and banks and now its well on the way to revolutionizing our everyday lives. The be. Above. The. Law but. The be. The most. Ambitious to have sensory overload the base has just about every day in the body of its most colors the beautiful blue sky her. Smile and the statistics amazing story the belief in the family the bold claim to be among the fifteen minutes probably. More. So this is the view from my seat in the horn section. Sarah willis knows her stuff. Just might think this is going to be the most incredible. Musicians and conductors. And she shows just how diverse Classical Music can be. Sarahs music contemporary classical. On t w. Time for an upgrade. Funded sure that grows all by. A house with. Poor design highlights you can make yourself. Trends tips and tricks that will turn your home page for special. Upgrade yourself with d ws interior design channel on you tube. An unusual friendship. This is the story of paul and. One is a student from cameroon. The other a filmmaker from germany is rather were not likely never be able to say whether he chose me or i chose him whatever the case is this is the story of how many. Im missing on europes most dangerous border. Up up up up. Up. Up. What we can as a documentary. Because my parents sacrificed everything for i can come back and be handed. Became a story about those seeking refuge. And those ready to help. When paul came over the city from cameroon to berlin and starts october fourth on d w. Germanys governing Coalition Parties will reopen talks about the future of the former domestic spy chief mass and the social democrats are upset about his promotion to a new job in the interior ministry after controversial comments about far right violence now chancellor Angela Merkel has agreed to reevaluate the decision this comes as opinion polls show a large drop in support for her conservative blog. After a contentious European Union summit
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