A bubble and bust on to the scene as the first group of currency it was created as a safe alternative to the crisis problem Banking SystemMainstream Investors and even lend is now toying with digital money that could ultimately put them out of business but is bitcoin here to stay. Eight years ago with peter order to underworld of finance on its head. Are these two pieces worth sixty three Million Dollars of course not in two thousand and ten the program. Paid ten thousand times for it at that time only worth forty u. S. Dollars nowadays this would make sixty three million u. S. Dollars. Today honey it says no one had any idea that transaction would go down in history as a milestone but this fateful first ever recorded transaction of be gone is what kickstarted the cryptocurrency. In two thousand and ten one bitcoin was worth less than one us cent in two thousand and thirteen it was worth one thousand dollars and in december two thousand and seventeen it jumped to almost twenty thousand dollars. Because it was invented as an alternative to the prevailing clover Financial System a revolutionary way to conduct transactions without Third Party Intervention no banks no Central Banks no government authorities. Say much or other as a consultant to you advise us companies on creating their own crypto currency he also runs a group youre involved in for people interested in crypto currency use. And i ask him if bitcoin has lived up to its revolutionary promise. First it was fighting against the banks the existing Financial Systems if you like the banks had already screwed everybody over and we almost had like massive catastrophe but right now this is a new type of financial instrument and you Monetary System gave us the potential to maybe create something new bitcoin is the original crypto currency and i think right now its been frustrating about how the old World Economy has been catching up how old world investors have been catching up because weve got a quite a long. From lets say more of the beginnings of currencies into what were seeing now the only way the crypto really goes well is by integrating with the traditional world because theyre started out as an anarchist project but cryptocurrency is a chain and now mainstream big banks and investors have got involved. They have discovered you can also speculate with because. Ninety six percent of all bitcoins belong to four percent of the honus so just a few profit from sorry prices and risk losing their shirt the Exchange Rate is extremely volatile. Some claim cryptocurrency going to become widespread and the regular means of payment. Is a berlin startup that aims to promote exactly that bringing together the rounds of old school money and new fangled crypto currency with a partner bank it is building an Online Bank Account that lets you buy and sell bitcoin and make and receive payments. We cant trust governments to control our Monetary Policy because they obviously made a lot of mistakes. We consider ourselves. As a bridge between the old world and the new world so we dont believe in a world where your only have money or only have cryptocurrency money we believe in a world where youre going to have both of those but if we look at the Current Trends we know the trailing cryptocurrency is going to be everywhere i dont think its going to be so tangible. Like now every single day our days are different because were using smartphones etc i think well im not sure will be as pervasive but it wont be as obvious. World a new word realize that you know remains the same to make money as much as possible. If something is high in the right way you can always find someone willing to buy it back in twenty thirty. In a program i decided to set up a crypto currency just for the fun of it the dog logo he chose for his joke currency doggie coins it was based on a popular mean thing is investors didnt consider it a joke they dumped money into it and before long the duggy coins were capitalized to the tune of hundreds of millions of dollars well because it may be the biggest Digital Currency by market capitalization but its not the only one there over sixteen hundred competitors you cryptocurrency ziv been all the rage for the last couple of years and creating a name for them can be fun as weve heard at the moment you can invest in products like cannabis coin or snake eyes is even a trump coin and a putin coin as well is a breakdown of how crypto currency is work. What is a crypto currency. The internet and on a. Narrow not real money but Crypto Assets which he manages with the help of a Smartphone App as do some twenty six million others around the world kitty stores her cryptocurrency in whats called a wallet its anonymous and encrypted she can use her Digital Currency to buy pretty much anything on line a growing number of businesses accept these currencies for example kitty could book a hotel in moscow the payment process takes ten minutes in comparison a Standard InternationalBank Transfer would take up to four days and it costs money to correspond to banks Exchange Rates and fees would make a transfer of two hundred fifty euros twenty eight euros more expensive whereas crypto currency is transferred wallet to wallet and incurs almost no extra costs. Theres no bank involved no state no central bank and no privacy concerns. Crypto currency isnt logged in any Central Location every transaction is replicated on millions of computers and recorded in a block chain that can be accessed by all users but the transactions are anonymous that means kitty could be buying drugs or weapons without the police knowing thats been damaging to crypto currencies image their own security concerns in aug twenty sixth hackers stole fifty eight Million Euros worth of bitcoins causing the price to plunge twenty percent there are now almost two thousand crypto currencies and a growing number of coins are in circulation their market capitalization is currently about one hundred seventy billion euros. And that number is growing and so are those security concerns for crypto currency holders. News of hacks every few weeks and whole countries are now creating their own Digital Currencies take venezuela and the petro it was designed by the countrys president Nicolas Maduro to get around the latest u. S. Sanctions put in place by this guy at the moment a crypto currencies success depends a lot on how easily it can be converted to standard currencies whatever the case traditional lenders and central bankers are increasingly worried about their relevance in the digital future. The bank for International Settlements in basel is the bank for Central Banks it promotes International Monetary cooperation and carries out research and policy analysis its general manager ive seen carstens is dead set against crypto currency. Because for me the future. They will replace it quite rightly because theyre more efficient faster more transparent and safer. Has made millions with bitcoins and distributed Ledger Technology which he says has revolutionary potential we have them both a number of questions starting with will cryptocurrency soon rule the world. You think youve got your money you know count your respecting. The count to preserve its value look up the hiking and sixty Million Dollars from the council can disappear. Wherever humans and technology are at work in the regular Financial System and in crypto currency Online Banking adopts a much more vulnerable than our crypto wallets if theyre managed right. Carson says banks are liable for losses incurred through fraud and that in the world of crypto currency theres no safety net the most important usurps or so you were currencies are those who are also see it that we. Treat for example laundering money is great. And so on and so forth. And carsten says that because theres no regulation of Digital Currencies crookery can flourish. You can do crooked things as easily with a crypto currency as with real money i see crypto currency as a tool you can use a hammer to repair the roof or build a kennel or to bash someone on the head kind of all human. One felling point of crypto currency has been the speed of transactions but payment times have slowed to about ten minutes because of the surging volume the computers involved need more time to process transfers i mean basically least an infrastructure of these probably that by investors now for them to make money just from is necessary as there is just shown they can charge for your fees these really what these need it to have to cease to work doesnt conduct these are teething problems theyre an issue to have to address and solve these problems im not convinced cryptocurrency is are here to stay this technology is very new and im sure that the problems we have today will soon be solved. The dollar and the euro eventually be replaced by crypto currency. I dont think that will replace a Payment System should based on a core in c. Really. Or complies with the three elements of money which is to be sorely store of value. Medium of exchange and to be. Too soon to say that everything thats been built up over thousands of years is on its way out but it does look like we are heading in that direction. Both favor regulation of crypto currencies to make the more attractive carsten in order to combat the criminals. Well turning away from criminals and speculators maybe there are other people in my five block chain based currencies attractive what about communities creating new money for social good using crypto currencies a new digital cohen is banking on the idea that people can profit from voluntarily solving problems in the world around them. The existing Economic System is creating environmental pollution poverty and just consider the distribution of wealth swarts what it is a disaster saw obviously we need a new Economic System based on you know practical principles dorrian the Community Looks for problems and when we find one the solution will be financed and financing the solution creates currency. Its about education and expanding skills its about diseases and water and about providing care for all areas the dory im supports just about any solution for a problem that makes a difference in the world we reward new ideas. And the. Sharp elbows in strength is what it takes to win in american football and above all team spirit and the desire to achieve something good. That also applies to the coaches they all work for the dom stock diamonds on a voluntary basis. Has been coaching young people on the football field for years now sport has kept some of them off the streets and help prevent them from potentially slipping into a life of crime his unpaid dedication and darmstadt has been rewarded in the form of this card. With the volunteer award card with it you can visit museums or go to the theater its a way of acknowledging what people do and giving them something back. The concept got gave our thinking could rewarding people for voluntary work in the Community Help make the world a better place thats why four years ago he teamed up with some entrepreneurs including n. P. R. Slang to create a social currency it rewards people who solve problems sustainably in society in the environment or in training and education they named their project dog its a foundation using blogger Chain Technology worldwide to assess the value of an idea of a problem in your problems young people face that can be reduced through voluntary activities like these here theres value in that in fact it can be displayed in a car then the community can say we like this and we want to back it that hole will give you so many impact to support it improved doria my can trade the social impact tokens into a tradable cryptocurrency the sobs. The project even reaches places like the jungle of Papua New Guinea the idea of a social cryptocurrency has a lot of potential in developing countries. Thats why the founders of doggie own have come to port moresby the capital city of Papua New Guinea to introduce the concept at a start up conference. For the past two years and they are slang in cofounder hard to tell his story have attended the chain of Events Worldwide germany up interest in sustainable investments. Everybody war party is able to be a part of this new ecosystem and this ecosystem is just rewarding sustainable behavior. Clean Drinking Water for example is a problem in many countries today its possible to purify water but the technology is often an affordable for poor regions. In germany a Small Company produces this high tech ceramic it can filter water and clean out pollutant the founders have financed a Water Purification container in a Pilot Project a village in bangladesh wants to use it to get clean Drinking Water. As its no longer about a bank issuing a loan or an Aid Organization working in africa today a Global Community can solve problems we can decide together which solution is financed where and how its financed. The name of the new cryptocurrency is spelt soaps derives from social business the two entrepreneurs have been able to win over support from some influential people such as nobel prize when i met you know us and the granddaughter of Nelson Mandela but cannot change technology really ensure that no subsequence are produced before a problem is actually solved with impact only with this impact on my block which is managed by the Global Community can i create saabs coins i always need an impact solution to create a subs quite so its not possible for just anyone to create sobs callings with money sobs dont fall from the sky theyll only be a new saabs a new medium of exchange when somebody has created a solution and is making a real contribution. Whether the idea actually works or not will depend on how many People Companies or countries want to reward social commitment and volunteering. And they will need to have confidence in the new cryptocurrency soaps and accept it as a means of exchange. Of views on the. Marketing front of whats clear is that some of the worlds most banks scrambling to catch the cryptocurrency wave among them german based. Its hired experts in the area to try to figure out how to retain business in a world where it would no longer act as a middleman likely to get must went to meet one of them in london. Im here bedford is known as mrs krypto she works in london for dacha bank kind of as its guide to the future scouting out emerging technologies. The chain has the potential to give back to customers control of their data she says blushing creates transparency its a form of distributed Letter Technology and shes looking into ways that can be deployed at the bank or has lurched from crisis to crisis for years and daily needs to win back trust business. We need to do better demonstrate were looking ahead to attract customers and focus on serving them. Than. I would have in the bank is like a big ship that has to change direction and. Of course theres an agile little tug in front and thats us we test new things. And if they prove their worth theyll be implemented in the rest of the bank but. Crypto and her team are often out and about exploring what it is the banks customers really need she also confers a lot with dacha banks in london innovation lab. Its headed by john pearce and he tells us how block change can make aspects of banking more efficient it can be used to create smart contracts for cobol program that ensures all terms of a contract awful filled without any third party involvement. But the Technology Allows is the immutability of that contract so that you know that it hasnt been tampered with and that you know that what it is executing was preagreed with the relevant counter parties thats what it actually offers. Bedford knows that block chain is hard to understand for the public at large its a veritable mystery its against the i know chains theres no single block chain. But lots of different applications that function in different ways i deal with this stuff every day but i still spend lots of time at least two hours daily reading white papers to keep track of the various trends within the world of blog change she says its not going to revolutionize things overnight but it is driving a last thing change blocks in a line and chain is not going to transform our lives by itself but in combination with Artificial Intelligence and the internet of things that will in twenty years time our lives will be completely different instead of wearing a watch we might all have an implant and be able to pay for everything with it it will be secure because theyll be stored by block chain and the government wont be able to access them. Perhaps we can do without the implants but our new bedford for one is convinced that people will be better able to assert their right to data privacy thanks to block change she says its more secure than any other technology to date now she just needs to convince the bosses to increase the budget for her team as guide moment out of the currently the focus is on solving the problems we already have but most of the banks executives appreciate that we have to think ten or twenty years ahead what is banking going to look like and then what issues will our clients be facing we should start preparing to solve problems we might not even know about yet. Before on your bed for tackles the future of finance shes going to take a break and have a baby but after that she will resume her work reengineering the world of banking. You probably still have a question or two about how blocked change Technology Actually works its not easy to explain as we heard in that report but in simple terms it runs on a kind of distributed database that spread out over thousands of servers all over the planet that means you can bury crypto currencies in your backyard or hide them in a coffee catch up on the top shelf making them more difficult to steal at least in theory and that characteristic could put a special unit the Japanese Central bank out of business one day. This is a fairly tricky case someone had a wallet in an oven and then forgot about it that was my first thought to get to the bills without cutting them to pieces. Trying to get soaked specializes in burnt money. This task years to piece together the charred remnants to find out how much money was in the wallet the owner says it was two hundred twenty euros. For dealing with even in a bun condition that has to be more than fifty percent left for us to be able to reimburse it for. He and his fourteen fellow specialists examined about thirty Million Euros a year in damage cash theres no charge for reimbursement even in complicated cases is a bug one hundred days banknotes have fused with a wallet theyve melted but i have to make sure the right hand sections are still there only then can we reimburse the. Pets works in the Analysis Center of the Bundesbank Germany Central Bank these damaged coins were taken out of circulation no refund no exchange. These rotted bank notes were buried in the garden the owner wanted to keep them safe from thieves hell get his moneys worth back old dodge mark notes can also be exchanged for your assaults against it so this is good. Martin webers plays the role of detective for the department hes out to identify counterfeit notes. He can often tell right away which workshop produced a fake bill frenzel for counterfeit notes often feel smoother sick thank you note paper is rough because its printed on noncommercial paper on pure cotton wool and you can feel the difference. Tell the best forgeries from the original in its technical help. Only the counterfeits glow under ultraviolet light. And the printing errors are revealed under magnification. Food place now from carrot so he has to deal with scoundrels of a different kind. Mice have looted a hiding place in one customers attic thats really gotten more is that whats hard about cases involving monks is that they nor out the fibers to use as nesting material and carry it off somewhere with a dog. But in this case the mouse was not too greedy and so this confident he can piece together more than half of the each banknote and reimburse the customer. And sure thatll make all of you with your not stuffed under your mattress to sleep a little better at night but something to say or if you want to get in touch then via twitter or tweet the team or if youd like to see any of those reports again you can find them on our web site thats it for us here on made take care and see you next like. The fish. Fish. Fish. Fish fish. Fish. The gatekeepers of europe outsourcing Border Control to africa. And pays billions of euros to african countries even detention ships mock the close the borders. And keep people from finger continents. But does that mean solve the refugee problem. Fifteen years on the job looking. For. Her first day of school in the jungle. First gloominess a good. Man doris crane moment arrives to. Join the ring a ticking on her journey back to freedom. In our interactive documentary. Trying to tame returns home on d w dot com tangs. Climate change. Waste. Isnt it time for good news eco africa people and projects that are changing no one fireman for the better its up to us to make a difference lets inspire other. People let. The firemen magazine. On d. W. An unusual friendship. This is the story of paul and. One is a student from cameroon. B. Other a filmmaker from germany is rather one now likely never be able to say whether he chose me or i chose him whatever the case this is the story of how many. On europes most dangerous border. Ah. What began as a documentary. My parents sacrificed everything for i cant go back and. Became a story about those seeking refuge. And those ready to help. When paul came over the sea from cameroon to berlin and starts october fourth on t. W. Ban. U. S. President donald trump has delivered a blistering attack on globalism in his second speech to the u. N. General assembly he said all countries should act in their own interest and said the u. S. Would never recognize a quote unaccountable global bureaucracy trump also lashed out at iran accusing its leaders of sowing mayhem in the middle east. Former u. S. Comedian and t. V. Star bill cosby has been sentenced to between three and ten years for drugging and sexually assaulting a with