gauge the long lasting trauma inflicted on communities. the aftermath. my shootings in america on al jazeera. you want to help save the world, needs into your elbow. in the news. hello and barbara sarah london. as these are the top stories on al jazeera, the head of the world health organization is calling on nations to look beyond the current pandemic and learn lessons for future outbreaks. headrest at the moment. every year susie is pushing for an international treaty to help the world plan for similar crises, rather than countries looking out just for themselves. the defining characteristic of the pandemic is the lack of sharing of data,

information, pathogens, technologist and resources. these are the challenges we are facing we have been facing since the pandemic started and even before a treaty would foster improve sharing trust and accountability and provide the solid foundation on which to build other mechanisms for global health security. and the report says, the economies of some countries are going to recover faster from the pandemic than others. but it says, a lack of vaccines will hold back poor nations. south africa's economy as being one of the hardest hate, and it's likely to stay that way. next year, that's according to the organization for economic cooperation and development. the country has a record unemployment with more than 7000000 people out of work, he cannot make growth, has been halted by a resurgence of coven 19 and renewed restrictions in brazil. and india. or the

o e c, d 's, director of country studies says the global recovery depends on all parts of the world getting vaccinated. we believe that this year and next year, the growth prospects are certainly improving around the world. we have granted substantially in the past few months. our forecasts are north america for europe, for asia, and for most of the country in the world. while we are forecasting about 6 percent growth rate this year, and you know, for a more or less 4.5 percent next year, the big risk is vaccination and the baby risk is exactly the strengths of the new strength. so what do we think is the best economic policy right now around the world is exactly the vaccination. and you can see that the recovery that we are witnessing in many countries is accelerating because vaccination, as accelerated. and so what happens on the lesson for everyone is that the fastest

countries vaccinate the fact that will recover. of course, the big issue as you mentioned, is the new strength. and this is why it's so important that everybody get back in a list, in more than the majority of people, the world get better than it is that if we leave parts of the world, unvaccinated, the risk that those parts of the world will develop strains that might have variance that will be that our vaccines will not be effective. this will lead to a substantial blow to the, to the world economy to these, to be the economy. so, vaccination at this stage is key, no doubt what. all a sickie in southeastern brazil has recorded a 95 percent drop in corona virus fits nearly all adults in serrano in the state of south palo have been vaccinated. as part of a study, scientists found that the spread of the virus was contained once 75 percent of the population had been immunized. the city appears to be a healthy aces in

a country with the world's 2nd highest number of cove in 1900 chinese state media says the government is relaxing, family planning restrictions to allow 3 children per couple. china scrap dates, decades old, one child policy and 2016, replacing it with a 2 child limit. but recent data still shows a dramatic decline in births in the world's most populous country. israel's opposition leader says there were still many obstacles in the way of a coalition just 2 days before the deadline for a new government expires. yeah, a la p to is in talks with ultra nationalists, natalie bennett, to replace the current leader benjamin it's him yell, but issue as longest serving prime minister says an alliance between the centrist and right wing rivals would be the fraud of the century. those are the top stories they with us, the crypt copays is next. i have one is enough an hour the

. ready ready 70 years ago, i made a film about the history of money banking and bitcoin. what was going on back along . we said it's going to be a bumpy ride. and now some of the big brains and speak egos for champions crypto currency claim. they are building a crypto utopia magic, i think that will happen with 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 and google's in the amazon. my name is austin hoffman and i'm 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 is already using it, making it really easy for people to a page or

a week. and go deep into a secret bunker that holds billions in bitcoin, but they are those who want to kill it. join with me and introducing a bill to outlaw crypto currency, so that we nip this in the bud or change the world with it. welcome to ground 0 in the battle for the future of the internet. web 3 point all they wanted a science fiction dream. what actually did was build forthcoming disaster. a lot of people were not willing to learn or not willing to admit, they were telling me that i have no clue that just don't support free speech. you don't support bitcoin, you're an enemy a bit for him. this is bigger than the internet. the iron age, the renaissance, the industrial revolution. this affects the entire world.

okay, let's start slowly with the basics of money and it's creation. the total value of all the world's money is about $120.00 trillion dollars, which you probably didn't 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. that's why there isn't enough money in the world to repay all that debt, and there never will be. oh, and almost all the world's money is already digital. just entries in a ledger, usually managed by a bank. only a small portion exists 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. whether used credit cards,

debit cards, paypal or bank transfers. they're all just pluses and minuses, indifferent, digital ledgers. that's why there's almost no need for physical money in our daily lives. during the financial crisis in 2008, a mysterious figure called photoshop's, komodo published this 9 page white paper. it said with big current open source software. we can create or money without banks or governments. i this new nerd money called crypto currency is created and thought in computers. and before long there was a growing family, mostly guys like roger via today. he's a polarizing figure, but back then he gave away thousands of coins to kickstart the movement, and they all called him bitcoin jesus. i think that for many years he brought more people to be going than anyone ends and we will for re grateful to him for doing that. or when i was a kid, i was reading all the science fiction books. they were talking about how the world

is going to be when we have this, like anonymous digital cache that people can use on the internet. it's not controllable by anybody. and then when bitcoin came along, it was like, wow, the science fiction money the i've been reading about as a kid is finally here. so i got so excited about it. i heard about it about 10 in the morning. and i was trying to go to work that day, but i didn't, i stayed home the entire day. reading about it didn't leave. i stayed up all night that night. reading about it date up all night the next night or even deep down that rabbit holding on to the point of physical exhaustion. not as i called a friend of mine that please help me. i'm so sick. can you bring me to the hospital? yeah, roger that bid bad by the bitcoin bug, like so many others who follow truly one of the most exciting inventions ever in the entire history of human kind. but how does it work? when my friends ask me to explain? well, i often start with this analogy emission, a bank vault where you have a safety deposit box. key open for the boxes,

where you can securely store physical valuables, like gold coins. in bitcoin, their digital think of them is very long passwords. your private key gives you access to a wallet which unlocks billions of unique decline addresses. each one is a virtual safety deposit box that only you can open with 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. here's one with digital money point to one coins. selling them from one box to another is what's called a bid quote transaction. we'll explain that later. but for now, just remember that these digital coins can only exist inside these transparent address. boxes can't be copied and can't ever leave the vault. and this vault is owned by no single entity. you don't need permission from a government, a bank, or a corporation to use it

the most early adopters of the coin, it was all about global peer to peer electronic cash room. 77 in berlin was one of the very 1st businesses to accept bid coins as payment for physical things. b as in burgess, back in 2011. there were no mobile wallets, right. so you had to go there, bring your laptop type in this long address. you do risk losing the money if you didn't type it correctly. so the 1st guy who built the mode by law with some guy prevent who built it in order to buy his beer with his phone instead of his computer. my problem with banks is different. why can't they sent money overnight on a weekend? after all, it's updating digital edges, right? just moving data, we can send pictures of videos to any one on the planet almost instantly and for free. we live in the age of the internet,

but the bank seemed to be stuck in the past century. so what if those flo inexpensive middleman with m multiple ledges could be replaced by a giant data face synchronized over the internet? that's the big idea behind bitcoin. and it's run by a decentralized global network of powerful computers and regular laptops. this immutability is the 1st rule of the coin. it means no one can ever change was once recorded in the block chain, or spend the same coin twice. that's also called censorship resistance, and it's critical to bitcoin being used as real money award winning journalist laura. she tells me a story about women bloggers and canister and being paid in bitcoin, and that one of the women that hadn't abusive husband and saved up her bit 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 every one was just

around the corner. world's most populous network, is adopting bitcoin. that's the internet. the world's largest economy is adopting bitcoin. that's the internet. we have transcended borders. it's totally file is electronic cache. david gerard doesn't buy all the height. he's one of the most outspoken critics and skeptics of block chain technology. it's not very good as a payment system. there's a small claimant use case. if you want to trade in things, the government doesn't want you to trade in that's david's polite way of saying illegal stuff. in 2011, most of my partner colleagues were saying 3 or so, but other drugs pornography on field the silk road was a black market on the dock where buyers and sellers used bitcoin to fly under the radar of the authorities. it had 1000000 uses until the f b. i showed up and shut it down. they caught 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 crypto currencies can be a tool for criminal activity, but so on dollar bills, all the banking system. and let's not forget, the block chain is a public ledger. it's 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 sim, bitcoin, 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 $11.00 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 when the dirty coff try to sell them for dollars, they got busted. while they saw the technology provides anonymity,

it actually enabled uncovering their crime. but what makes big coins worth stealing? why do they have value at all? let's go back to where big queens are stored in transparent digital deposit boxes protected by strong cryptography. they can never be copied or leave the vault because any transaction at any bitcoin down to a 100 millions fraction is recorded in the block chain for eternity. this synchronized global letter is shared among thousands of computers worldwide. that's why it can't be compromised or altered. think about that. we can make an infinite number of perfect digital copies of the movie, a song, any file. but for the 1st time in history, this distributed record key being allows us to have a truly unique and fungible digital object that is also scarce. if you could count all of these virtual coins, you find about 18000000 of them today. when

the cap of 21000000 is reached, the protocol stops the network from creating anymore. it's 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 euros or dollars, you might not care about a little inflation per year. but if you country isn't stable, you might be a trillion and paper and be debt brooks. i grew up in by bonia and the same part of ours. and now my parents are she branches there and i remember growing up in my childhood, so my parents lose everything free time. first because of a huge evaluation and because of hyperinflation. and the last time because they government confiscated all banker bosses. i think that too they, they are,

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 mccracken. we think of finance . we think of banking, we think of money in terms of the experience and perspective of western european or developed 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 crypto cards is that is very open and permitted. and every single country that is unfree has restricted for band crypto currency status. this is the berlin wall fil a powerful symbol of a government trying to control it citizens. and that brings us to the big question, can governmental bangs, ban bitcoin? well, some politicians feel things they can stop open source software. i look 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 an 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 bed is critical for major oil and other transactions. and it is it the announced purpose of the supporters of crypto currency to take that power away from us. for full currency represents a litmus test for governance. it reveals how much your government believes in in the fundamental freedoms and human rights. because if they don't trust their own citizens to have control over their own money that says a lot about the government says very little about crypto cards. you see the reason

why some governments and most bangs are threatened by this technology is simple. your private key and your wallet can replace your bank account. the network is run by software, and it's currencies made and maintained by computing power and electricity. it can't be manipulated by central bankers, wall street lobbyists or politicians. but with new freedom comes new responsibility . so, if you would keep your point, if you don't want all the keys, it's not your bitcoin jor, keith drop big point, not your. not your big point. your keys, your big, quite natural keys, not care of a point. got that. if you lose your key, you will never be able to access your coins again. and if someone hex, your computer or you store those passwords, your coins will be stolen in a 2nd. and remember how, whence as a family had them money stolen by their own government?

well, maybe that's why he built the fort knox of bitcoin security. example. most of our 7000000 customers are in emerging market. in countries where there's problems with the currency, we have explosions, inactivity like venezuela right now. we're derek and we develop the system of wallets where we have 5 private keys for each one of our bigger addresses. we keep those private geese in and offline. sarah, that has never been on line will not be on line. it's inside the vault, the voltage inside a bunker, usually deep underground. our main one is in switzerland in the commission, military bunker. i just had to see it for myself, even though it took a month for to get cleared for a tour we were met by christ of osh might a former military commander who runs the place. and the representative from sample kristof said the gods would rather shoot us than show us around. i hope you are

kidding. they need to bring in the material to the other side of the personal look . first up, one more check of our id, a pet down for weapons or any other monkey business, and give 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 of it going in the world because a lot of the largest holders in the world use us or security rumor has it that 10 percent of all that kind of thought here. and in there for other secret locations, unfortunately, i can't confirm any of those numbers from the mountain that we are getting a lot of benefits by earthquake proof flooding prove.

but on the other side, you're 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. it's a level security apply to all of the data crystals protects here. not just for example. we cannot talk too much about it because it's pretty quickly what is down there right now. be allowed to film that now the doors that remain shut and security measures we weren't allowed to see. and some of those checks may be by a metric including the i kind of fingers, brains can and the fingerprint scanner. also make sure that you are alive. do the cut someone's finger and you're just using it to open a gate. so you might have a direct

these on samples actual service, but if you've ever wondered what triple currency thieves dream about it, sitting somewhere down here unplugged from the internet, buried absolutely no way here. a way to attack the day. it's always on the cold storage side, but here's my question. why do i need the cold offline service to be inside them out and kinda be in my basement while the surveys and it still can be sold, right? so this isn't like money data. yeah. think it's been invite, but it is money, a lot of money. and this is why this is more a bank than, than a day. but let's do a quick recap. we now have billions of dollars worth of data secured and digital banks deep inside secret military bankers. if you don't think bitcoin is already

changing the world's concept of money, you haven't been paying attention. remember, mervin, he used to be a senior executive, deutsche bank. his colleagues, one said bitcoin was for lawbreaker and troublemaker, he now runs a crooked to fund out of walter. our research shows that the crypto markets are going to probably be worth about $8.00 trillion in 2027, which is a 50 x. um today, exactly. most financial analysts say you better stick to your chance and bonds and dollars bitcoin is dangerous nonsense. far too risky as investing 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 it's an anti fragile asset uncorrelated to financial markets. so how about the general public in america,

the younger generation already starts to trust this new asset class. and when success, bitcoin may reach a $1000000.00 a coin. 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 it's super risk and you may lose. the 2nd biggest financial means that you can make is not to own any. because you bought one percent of your net worth in bid going, most people can afford to lose one percent of the net worth. and if i am right, it's going to be more than a 100 percent of your network. so with a non material exposure, you change your life, you know what you would spend with your on a romantic weekend with your wife. say, sorry, we're not going to go out this weekend. i'm going to just vibrate, going can sir, it's bent, disappear, check in 7 years. i either give you about a life and cost your weekend or i want a grandkids girl. once you do what you fail to mention is that

the currency, the micro transaction, all of that is relevant, right? meaning, all of the cryptograms is our way to wallet that for anyone to take them seriously . hold on, let's go back to where we started. bitcoin was created peer to peer to 20 cache. that was the 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 in today's money. that is a deflationary of fact, as long as the coin keeps doing sudden and increases in prices. that's going to stop the retail use in its tracks with bitcoin, you can send $1.00 or $1000000.00 worth of value anywhere in the world. you can do it for free. one philosophy could be described as declining digital goals. and the other philosophy could be discarded, declining as digital cash, because what we've already met the digital gold camp,

who opposes any changes to the protocol, despite the high fees, roger represents the other side of the debate. they wanted a system upgrade, a solution as easy, and just increase the size of the blocks from $1.00 to 248 megabytes. so that more transaction fit into them. this will lower the fees, and people will start using that coin as cash again. but most of the community disagreed. so bitcoin, jesus had become bitcoin, judith and there was a split into 2 separate bit 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 the establishment. now, the industry has grown so much that they are competing parties, propaganda machines, conspiracy theories looks a lot like politics. the biggest fight within the bitcoin ecosystem is over at the moment, is 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 bitcoin than anything else. and that's big point. cash, i think is to say that and causing people to, to buy a big on cash when they actually want to buy bitcoin. they're just going to be casting is from issue shalicia online for i'm been told the omnia, di for the english rosie, dr. kaufman bitcoin b cash kickoff time depression he had for some his sierra one is nuclear. those in your face to bid coins could call them coming up the chain explained. and predicting the future of the internet the the, the heroism and hope they were will help us to read the 4 iconic. so she nicea area,

meeting the people in the places the site and hearing some writers and musicians who composed the songs for north africa on which is era the people have come to expect a lot from of era over the years if they're reporting the commitment to to report the type of the commitment to the human story. but it's also the idea of challenging those in power. if a politician comes on this channel, they will be challenged and that's what people are because they want to question answered. that is what we've always done. that's what we will continue to do from the world's most populated region, the un undue story from across asia and the pacific to discover the current events with

diverse coaches and conflicting politics. ah, what he's on out there. ah, ah, hello, i'm barbara. so in london, with the top stories on al jazeera, the head of the world health organization is calling on nations to look beyond the current pandemic and learn lessons for future outbreaks headdress down on gabrielle seuss is pushing for an international treaty to help the world plan for similar crises, rather than countries looking out just for themselves. the defining characteristic of the pandemic is the lack of sharing of.