from the geo politics to the pure economics, the misinformation, the latest developments, what's going on here is very different. first off, the back thing comes in the form of the nasal spray. special coverage of the colona virus pandemic on a jessina ah . flow again, i'm fully battle with the headlines on al jazeera, the european union envoy for the palestinian territory is calling for international support in rebuilding garza after last month, 11 de bombardment by israel. more than 250 pound as citizens were killed and infrastructure destroyed. we don't actually need to reconstruct god the end to make it recover from this terrible tragedy require the number of important. one important step is that we bring back any clue

as if governance from the river to the see that we make sure that the split between god and the rest is overcome that the senior leadership unified and on the training side, they need to for the corporate was ending the siege and allowing access in the critical period now of goods and equipment for people to be able to survive intuitive. 5 east asia is struggling with a surgeon corona virus infections. malaysia has imposed a nationwide to week long down and vietnam has suspended international flights and is testing all 9000000 people living in her. she mean city the world have organization has renamed corona virus variance with greek letters, avoid stigma. historically, viruses have often been associated with the locations they originates from w h o a p m ologist argue no country should be stigmatized for detecting and reporting variance. now they've given the letters alphabet tag gamma delta according to the

order of their detection of fire. that's lasted for 13 days and a congo ship in sri lanka has finally been extinguished. it's been described as a country's worst ecological disaster. the vessel was carrying large amounts of toxic, nitric acid and micro plastics. in i, jerry, i, school officials have confirmed that a 136 students are missing after an armed group, a thompson islamic call in to gain i in the state of my john sunday, one person was killed. some parents have been reunited with their younger children who were released. turkish spies have smashed the nephew of a man, turkey accuses of office, raising a failed call in 2016. the law in glen is wanted for being a member of his uncle for to go lens movement, which i think are every gone budgetary school. i have more news for you on al jazeera crypt help you continues next day with this. the

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no. i know, i know you want to find out what any of this has to do with this new crypto p, revolutionary internet. we'll get that promise. but 1st, we need to go from bit coins, original block chain to hundreds of block chains, back in 2011 when john lee was a google engineer, he wanted to foster and lighter version of photoshop's crypto currency. and was one of the 1st to experiment with the open source software. the actual quoting terms of the code differences between the clan, my quote was actually pretty trivial. and what, what does that mean in time? like we say like $44.00 or 5 hours, light clean was one of the 1st alternative trip to currencies or all points. some of the early adopters, like charlie made fortunes. soon there were hundreds of points made by cryptographers, copy cats and con men. as a coin for bloggers,

a currency for online gamers, one with anonymity and even one for bangs. but can this invention and lease something even more powerful than digital currencies. back in 2014, i met the kid who knew how to do it. i know if it's alex varnerin, co founder of quinn magazine, founder of a theory, and just general quint cryptic currency advocate. just 19 years old vitale was on a mission to make money programmable. he build a separate block chain, called the theory him its own currency called either in comparison, might they be quiz like a spreadsheet and is here him is like a spreadsheet with macros. using analogy serial allows you to store crypt currency and computer code in the same secure box. here's how a smart contract might work in the price. let's say i bet charlie that a light coin will be worth $200.00 on january 1st of next year. we each put an ether into a box along with a small contract,

a simple program that automatically checks the price of light coins on that future date. if i'm right, the money goes to me. if i'm wrong, it said to charlie, a smart contract is neither smart nor contract. it's a dumb program. and it, once you understand the all it is, is a program that clarifies a lot of stuff and the word contract there is in the meaning of finance. most financial arrangements are pretty simple and clear. cut a bad with charlie. your home loan and insurance policy. just 2 parties and some form of exchange of value based on a set of rules called a contract. the same is true for global financial markets. think bonds futures derivatives, credit default swaps. they're all just contracts, and the world economy runs on them using middle men who all charge high fees. proponent, say that if we used smart contracts, we could tell the bankers lawyers escrow agents and wall street finance guys to

take a hike or so we're, we're doing is we're saying we have this a theorem network inside the room network. there's this asset called ether. and we're actually going to be selling user, we're going to be selling either at a rate of 1000 to 2000 either for one bit calling. and that's how we're going to raise money. it worked vitale figured out a way to fund this year and project and it made his investors very rich. this new model for fundraising soon had a name, an initial coin offering or i c o. i b as an i c o sound similar, but they have, they're not things similar. the only thing similar about them is they help you raise money. i fios, you don't do until you have a company until you have revenue and you have users and you actually prove to the public investors. and this is a valuable company that's worth investing and it's worth buying their stock. i seos, it's pre product. you have maybe a couple of people on the team is just the white paper. and so people are just buying into trust into faith that this is something that will exist. the goal here

is like, ultimately i like to say 8 year olds building their own financial systems. yeah, but what if some of these a deals are also scam us? so let's say i'm trying to do it. i feel, and i curtis my contract where i create a 1000000 coins. and one of the transactions is that if you send me $100.00, i will send you that many worth of points. it was a man gold rush, the people realized, wow if, if i can just pull up pull together project in a white paper, i can raise money like a lot of money. one project race $150000000.00 in 3 hours. and another one collected 35000000 in under 30 seconds. some people hawking new coins didn't actually exist. this handsome chap is the graphic designer of a book gary, and i feel, actually they just posted a photo of ryan bossing, another project,

race millionth, annisa, and then vanished, leaving investors with this website. look close. that's nice. i would say about 2 to 5 percent of the 1000 devices that are happening are actually legit and the rest is pretty gammy or it's not going to work. can you define for me what a coin is? i think it's just a derogatory term. people use on coins that they don't like for the climax was evil on the care about their client. everything else is claim sure. there are tons of useless projects that will never work. but maybe i was a bit too harsh and i feel democratizing start of finance can be a good thing. they will also many legit companies raising capital. over the years i've met many founders who have real offices with real people trying to solve real problem. but the big point, maximum list of a block chains i fios i e o s t o smart contract on the theorem. that's all just

a waste of time. there is no rock, st. health care industry and the automobile is coffee is what you saying is a maximum of this point of view you are speaking about from a perspective of, of a cult. oh, my problem is that you hijack the movement of a technology that is far greater and has far more potential than just these individuals. there's all of these different things that you can use blocks in for, right? and so people have almost like different ecosystems. and then when you see it's almost like an illusion or a process right where the block chains fork. and they have the same as histories, but they adopt a different environments. and we see just like ever increasing level of diversity in number of block chains during the idea that there's like one block chain going

to be one block and it's going to be fit for everything. it's almost like, disregarding the nature of evolution. meanwhile, the big corporations have been studying crypto currency and they think that bit cons underline database is where the magic is, the more on the boardrooms block chain, not bitcoin back in germany, my friend oliver keeps tabs on the men in suits. he used to be one of them. i left the name and diesel up to me taking off his bus besides by the court and auto asked alon by being big this on a b, m. w is looking at using the block chain for the future fleet of electric cars to interact with public transport. lufthansa wants to see if the block chain can better track parts and maintenance and dodge telecom, using smart contracts to negotiate terrace for roaming costs. with other telecoms, if we can store traits, certificates, and shipping documents on the block chain,

you can check to see where those organic alcaraz really came from. for grew them for packed them and ship them. you might wonder, what's the point of a block chain if it's controlled by a company? well, i compare it to the open internet versus company owned internet's. they both exist . meanwhile, facebook, announce a crypto currency for the 2000000000 uses. such a system might be more efficient than a public doc chain, but there's a downside. some governments banded within weeks. right now the way it is a paper that's being shifted around that doesn't make any sense that infrastructure needs to be or why occupy wall street when we can build a new one on the block chain instead in the future of the centralized finance stock certificate, corporate bonds, insurance policies, property, deeds, mortgages, all can be turned into crypto tokens and may tradable 247

what's, what's more exciting than tokenize securities, operational businesses where it's just equity that you probably around is totally novel digital securities that you couldn't do before. right? novel use cases where you could kick back flash on a continual basis. i think some examples of this that we're seeing our maker down finance, which is finance point that's actually much bigger of an opportunity because it represents something totally new. my name is dr. jim a great and i'm a co band and the chairman of pal ledger and we use the blood chain to enable electricity trading energy asset financing and carbon market. this award winning australian company wants to take us to a common free economy, foster. gemma has identified a problem building often nearing the tentative and it means that if there is solar panels, the apartment isn't really incentivized. so i'll go back to the 10 and if it but

using up all the tenant will pay the trip to the body corporate using power ledger, the tenant, pasting owner, not the power company for the electricity. if the tenant isn't at home, the unused energy will be sold to a neighbor, lowering their power bill and making a profit for the owner. it actually crate the mechanism to justify investing the capital in the 1st place. this clever system could also speed up investment in sustainable energy projects by making it real easy to own a piece of a solar or a wind farm. why do i need a block chain for this condo invest in a solar farm without this new fancy tech? the block chain acts as a kind of an income register, any tokenize in the asset. it becomes tradable on an exchange, or 2 or 3 solar panels of a 1000, in a sofa. and you would say the income associated with that amount of, you know, bankers don't very much like being cut out of the cash flow loop. so they took

another look at mister commodus curious little white paper. and they've recently been spending a $1000000000.00 a year in block chain research in the arnik photoshoot anti bank convention, and all being used by the banks to more money faster and buy big business to track supply chain. ah, ah, crypto currencies digital tokens, public rock chains, private block chains. where is the killer app? well, adoption of new technology often follows old trends. my name is mark francesca, i'm here at oxford, oxford on the faculty. i'm academic sociologists, by training, interested in how large scale infrastructure changes. so great to see you after 9 years. i know mark teaches a class on innovation and system building. he tells me what must align for new

technology to become fruitful. all technology start out as interesting ideas. some of them begin to develop and innovations, and we know that that are from invention to innovation, takes all the time. it takes a lot of work. some of those innovations eventually become commercially viable. but can this technology ever become as pervasive as the internet? i came to the computer history museum in the heart of silicon valley to find out. so you're looking at the console for sage, which was probably the 1st computer network. there were $23.00 centers around north america to warn against soviet bombers and they were waiting for world war 3. the us military and some american universities asked this guy to create a new kind of network to connect their separate networks. this young girl got up and she had a bunch of questions, but 1st one was how did i manage to can do all the governments of the world to let

us build the internet? you know, i said, well, except for the handful of us that we're actually working on the internet. nobody else really thought it was a very good idea. and so you think it was going to lead anywhere and, you know, we pretty much had free running room. yes. that's the man who, corn vender, tcp ip p, about 50 years ago. that's the original academic paper. you can think of t c p as the backbone of the internet. but back then there were many competing technologies. there was a very big battle over the protocols. tcp ip didn't just win by default it was through attrition by basically being better, simpler, easier to deploy than all of the other cannibal and more scalable. and it had a lot of competition from phone companies. and then there's email, email i heard that's really neat. email was to have the internet 1st killer. then in the early ninety's, tim berners lee introduced the world wide web as a 20 page proposal. soon, there were browsers that made it more accessible and user friendly for the general

public. i think with the internet is going to be one of the major forces for reducing the role of government. and the one thing that's missing, but that will soon be developed is a reliable cash. still few understood the potential of this new tech from people that thought it would be the world's greatest library to some of the early cypher punks who are the direct fathers of crypto and certainly bach chain type ideas who thought much of today that it would create kind of a commons that was outside of the direct control of normal laws and governments and the media. they didn't quite know what to make of this new thing either. but sure enough, they found juicy stories about the dark side of it, which was the internet is full of criminals and peter files and pornography offers . and it's too dangerous to use your credit card dominant. it's full of scams

within the exact same story. now, we envision technology as if it were autonomy, us as if it were simply outside of human and social experience. what we see are technologies that become shaped by commercial interests, by a political and regulatory infrastructure by actors who are acting for many reasons, right? what do you want to remember, bob? the big telecoms wanted his thoughts on a little idea that were kicking around. or they had a meeting where they were trying to figure out how they could buy the internet. they couldn't kill it. well, why not own it? i caught myself by an executive at a large information company. it's probably in 1990, if they could buy the internet. and i remember asking them, well, why don't you buy the world economy and you can have everything. once you buy the weather and you can control that, it took a few decades in hype cycles, but the wild internet was eventually domesticated coopted by trillion dollar

companies, and then from the mentally transformed how we shop work and communicate speaker's corner in london's hyde park. for 150 years, this has been a safe place to stand on a soapbox to sell your ideas, preach the gospel, bad mouth the king, or promote communism. today with the world wide web, we can stand on giant digital so boxes using facebook, twitter, youtube, we can share ideas or thought of fight with anyone on the planet. oh, wow. well, almost any work of 65 countries studied china has the least free internet worse than iran. cuba or syria. police force of more than 2000000 cyber cops and the worst most sophisticated, artificial intelligence system keep china's web content clean and uses incheck. so

sorry to break it to you, but there's no longer world wide web. welcome to the internet. to be fair. some of the censorship is to prevent terrorist recruitment or to stop violent mobs from hurting people. but i think government control over the internet has gone just a little too far. hold on photoshoot turn money into code code is just letters and numbers, which is speech, right? so money now is speech, which is a pretty powerful idea if you think about it. but if bitcoin is this uncontrollable uncensored technology can, the block chain also enabled global free speech. in some places it already does. one chinese student tried to report a sexual assault and was silenced by her college. but she knew that she could attach a message into the metadata and the theory i'm transaction. so she spent $0.15, and now her letter outlining her story. and the threat she received is on the public assyrian block chain, where it will remain unchangeable for ever the early crypto. pioneers wanted to

democratize money. finance. 2 point. oh if you will. but now the believe us in the block chains have their eyes on a bigger price. they want to decentralize everything. web 3 point, oh, you can, for instance, offer file storage in a way that an amazon does. or that you could offer search, you know, the way google does, but do it in a peer to peer fashion without this behemoths at the center, extracting rooms and do it in a way where all the people that are users or that can benefit. and they really could some day compete with, if not even take down some of the big tech try and like the facebook and the google's and the amazon that we know that's a tall, tall order. and is it is. but i mean, who would have thought at the beginning of the internet that would be, it would be out and it's too early to tell where the projects like these can succeed. but i do like the idea of digital property rights wouldn't be nice if

companies paid us encrypt currency when they use our data. and if we control who has access to it, instead of our digital overland, because let's be honest. do we really trust google, microsoft and facebook with a block chain? we don't need to rely on middle men anymore. it's a trust las system. meanwhile, if helium is building the future of decentralized finance with thousands of applications, but the network is also struggling to keep up with demand. oh, and new competitors on the rise. so guys like you will build a better future and we can trust you guys better than the bank because you don't have to trust us. that's the beauty. we're building a trust list, the centralized system that gives power to people travel. it sounds like there's no trust, but actually it means we don't need to trust you. i think the better word should be trust to free. about one 3rd or maybe half of the cost of the transactions are paid to establish trust between trading parties. like we're paying for lawyers,

we're paying auditors who are paying even please even regulators government to, to build trust, ensure everything will be enforced. so cost is quite expensive. block, hey, is the 1st time that we saw some technology that can eliminate the cost or reduce the cost of trust, dramatically magical things that will happen. trust may be expensive, but it's also short supply all around the globe. people have been losing faith in the media institutions and governments, this technology with a big brains and big egos behind it could fix one of society's biggest issues. but just how different are they from our current political, financial, and business leaders? are there systems really resistant to corruption immune to manipulation and worthy of our trust? maybe that's why the best bet is on the only project without a figurehead. bitcoin doesn't care about human drama, bad press,

or what anyone thinks? yes, sure. it hasn't succeeded as a global currency yet, but in the past decade it has been the world's best performing financial asset. so we're back to where we started. the genius who vanished where she being gone from day coin, they coined it's really a very decentralize and i work in currency. he was intelligent enough to know that a system without a father was going to be much more robust than is it them with a father? no father, maybe. but without leaving a will. the kids are now fighting over the meaning of his invention. and the inheritance projecting their fears and their fantasy onto his legacy. for some, it's money for the internet that can replace middleman and bank the and banked and maybe a tool for lisa trade. or is it digital gold? a totally new asset class?

a bit against the bankers and insurance against inflation, protection from corrupt politicians, and a weapon against the state. maybe the end of money as we know it. for some entropy nurse, it represents a shortcut to fund their dreams. a platform for federal finance, which is why and come and fight it. some say public block chains or just slow and useless databases, while big business is busy building private block chains to boost efficiency. or maybe this. decentralize technology is a new protocol layer for the internet. upon which we can build a better web to dethrone the tech giant, reclaim free speech, protect online identities and facilitate free trade in a borderless, digital economy. and yes, maybe even save the planet. let's a never ending list of crypt hopin ideas isn't this a bit too much to ask of a 9 page document?

yes, you are the internet and the web started out as white papers too. but it took a decade before the infrastructure was built, became user friendly and ready to scale globally. we kind of domesticate the wild potential of technologies into what familiar and we dramatically underestimate or under imagine what that technology may eventually do. it will be, the users may be billions of them who will adopt this technology without even knowing what a block chain is or how it works. because here's the thing. the average users don't care about the wires that moves their money quicker. don't know about the software that moves this movie or that picture. what will move them a services that will make the days a little brighter, their choice, a little lighter and their lives a little richer?

me. ah ah, it's time for the perfect journey to winter sponsored by kettle airways. hello, nice to see you. we do have crew layer really punching across southern areas of argentina, low temperatures. we're going to see some showers slide into paraguay wednesday into thursday, so i don't see on 25 will be the high for you. but expect that what, whether to arrive on thursday, you know, for the top end of south america, we've been talking about the heavy rain towards the amazon basin. so this is min, now smell and you know, they've built these areas these walkways because of the flight. it's streets that they have there. and remember,

manassas rate beside the amazon river where we know the amazon river and its tributaries near record levels. so those periods of heavy rain will continue on wednesday as well. take it to central america, and you know, cuba has really been lash with heavy rain over the past few days, and that will continue. same goes for bahamas. otherwise, we have the risk of some pop up thunderstorms as we head toward his span, eula and jamaica in the forecast for you on wednesday. here's a storm risk across the us wednesday. we can find storms really from the mid west right down to the gulf states tapping into some of that gulf energy, the gulf moisture. and you know, as we head toward the west, we could see a 130 temperature records broken this. we look at redding california, high of $41.00 on wednesday sponsored pay cut on airways. be part of the debate itself defeating the end because it in the us or in the u. k. because it will just come back again when no topic is off the table.

what we wanted to talk about where the man was white, man, touching aloud the dream, where a global audience become a global community, jumping to the comment, fraction, and part of the discussion. there are like kinetic efforts to silence fell opinions on the online faith on al jazeera. ah, this is al jazeera ah, hello. this is a news hour on al jazeera. i'm fully back to life from our world headquarters in coming up in the next 60 minute, full lockdown in malaysia. the prime minister was a potential catastrophe. several southeast asian.