ah al jazeera ever ah them how little hit in until her with the headlines on al jazeera, the taliban co founder has arrived and i've canister capital for talks to form a new governments. law abdul gone, the brother led to the group negotiations and go home. the taliban says the future governments will be inclusive. charlotte palace of war from cobble. it's unclear what's going on behind the scenes. the very secretive about these communications we're getting is the old photo shoot that they're actually meeting. but as 10th of the substance remains to be seen,

we do know that the telephone are very concerned about legitimacy. it's very important to them. the us have told us that in terms of the leverage that they still have with the taliban, that they have a money and they have legitimacy. and that is what they are relying on. they say that they know or the taliban wants to be respected on the world stage, and that part of that is including government leaders and having an inclusive government that represents the elements of society. with evacuation efforts in kale, sick couples, airports. the us presidents is warned, the presence of american troops will not be no guarantee a safe passage. my counter reports from washington. beyond the grim scenes round couple, airport us is continuing to ramp puppets efforts to evacuated citizens. it's also send more state department officials to kuwait and cutter to process special immigrant visas. president biden has reiterated his commitment to st. evacuate

every american citizen who wants to leave along with thousands of guns who worked with the us. he's also described the last week as heartbreaking, and warns the mission remains dangerous. make no mistake. this evacuation mission is dangerous and evolve risks to armed forces and has been conducted under difficult circumstances. i cannot promise with the final outcome will be what it will be that it will be without risk of loss. but as commander in chief, i can assure you that i will mobilize every resource necessary. it didn't take long for the politics of the african crisis to come into play. the republican representative, my grudges issued the statement accusing bite, and once again ignoring reality on upcoming stun, he continues, there are thousands of americans and taliban controlled territories around the country. and the biden harris administration cannot provide an accurate accounting

of how many americans are left. a pentagon spokesman confirm that some us troops with phil on their way to help us to, to a couple of airport. the total number is slightly right to more than $6000.00. the main focus is on security at the airport and making sure that as the general said, that, that air operations resume and continue as unimpeded as possible. but clearly, we will be prepared and postured if, if we had to do something additional. but i won't speculate right now, but still no indication as to how free passage will be guaranteed. well, those were not able to get through the taliban cordon around the airport. president biden has cancelled a plan trip to his home in wilmington and his staying on that the white house through the weekend to continue to monitor the situation. thank you very, very much. and also perhaps to prepare members of his administration for the

grilling they are likely to face when congress reconvenes to be brief. next week, my kind of, i'll just sarah washington, 18 government is facing growing criticism is that struggles to get aid to survivors of a powerful earthquake. a week ago, there were desperate scenes in the city of lake k, as people scrambled for surprise. many and move areas are still waiting for help. and the group has killed 17 people in the sher and wounded 5 others according to a local official group attacks, a village near to the very north west of the capital and the army. hundreds of people have been arrested in australia after anti lock time process term violence. it came on the same day. house authorities reported a record 900. you colona virus infections about up to date, still stay with us here on al jazeera. the bottom line is our next oh

i i am steve clements and i have some questions. are crypto currencies like bitcoin and a theory? i'm just a passing trend or they here to stay. and what did they mean for you and me? let's get to the bottom line ah, in 2009, if someone told you to buy a digital currency that was where the few pennies, because it would be the wave of the future. you would've been right to laugh. but guess who's laughing now, these crypto currency is led by the most famous of them all. bitcoin had made many people millionaires. and some even billionaires going from value about $0.08 to more than $45000.00 now. so literally, if you bought just $2.00 worth back, then you held it for 10 years. maybe you've just forgot about it. you'd be a 1000000 or today, quietly, with no way to tax you or even know who you are. crypto started as a manifesto with lofty goals 1st to stay anonymous on line 2nd to create

a financial world without borders. and 3rd, to avoid the traditional banking scene after the global crash of 2008. but that anarchist manifesto has boomed into big business to day. the size of the crypto market is estimated at 2 trillion dollars, and they're all sorts of currencies out there. now, like a theory, i'm in dodge going car dano, you name it. so inevitably that means that hackers are going to try to get in the action. invisible forces are going to try to manipulate values and governments want to jump in. they want to regulate the currencies, break, the anonymity and tax folks when they make a profit. so how much is noise, and how much is hype? and should we be sticking to cold, hard cash? today we're talking to an early evangelist, an investor encrypt though, and it's backbone the block chain. he has south african internet entrepreneur, vinny, lingam vinny, is a shark on south africa version of shark tank, and he's the co founder of civic and identity protection star up in california. vinny, it's a real pleasure to have you on today. let me just start out because i want to have

a thoughtful show on what the architecture and possibility of crypto currencies may mean for the average person out there. when you go and talk to an audience that may not be an investor may not own bitcoin. what are the things that you think are highest on the list of the benefits to society, from this new world of crypto currencies in the block chain feed. thanks very on the show. you know, i think they start with the very basics are on what is, what is crypto, what is the block chain? what you, what, what does it industry about? and it really started way and it's not commodity anonymous. invent bitcoin, trying to create a efficiently a digital asset, something that can be transferred around the world. and you could, it was dissimilar to the way music files were transferred over a decade ago, where you could take a music box copy at a 100 times. you can send it to your friends and you have to just do

a regular files. but because it was different, bitcoin had a network of computers. so once you stand a big point to someone, you couldn't send it to somebody else as well. and so that was a unique innovation on, on con, bitcoin and blockades. ecology was the ability to make, use effective to use digital tokens or files and copy a ball. so what happens when you have that? so it's acknowledged. what can use it for? well, you can use it for things like deeds, titles, for homes, energies which are non fanciful tokens. we have digital pieces of our way, only the original owner, the token actually owns the art. you can copy them, you know, 1000000 times, but doesn't have the signatures attached to it. so this is, this is entire ecosystem that evolves around the basic premise of creating scarcity in a digital world. well, i think one of the other interesting things about, you know, and i know there's a different block chain and then the currency side of it, which we can get into later. but as part of the currency side you been out,

they're predicting that big coin, which is around $45000.00 today. but who knows what will be tomorrow? i mean, it's gone through some wild rises and falls lately, but you predicted that by year end it could be up to upwards of about $100000.00. so one of the things that perplexes me is that most currencies are considered to be stable, that you need them to be stable. and as opposed to these big rises and falls, is it healthy for bitcoin to search to a level of $100000.00 and be more of an investment rather than a currency? so the l d is kind of word, right? what we just say, what's healthy and what's not i think overall. 1 the, there's a strong process movement on bitcoin that we'll see it continue to be propelled backwards. you know, one of the things that gets miss mit actually in mainstream media and the best point of all the stuff is that you've got this huge audience of people know

constantly buying between. so the or that kind of mean community. but i always go back to the original mean point i be funny, windows coin that's, i mean going to but because the original client way you've got this, you know, this, this, this society, this community. maybe it's tens of millions of people, maybe 100000000 right now. that one's own bitcoin and a certain number of good point and they keep buying it. right. and these are wealthy individuals for individuals, whatever, across the spectrum, and services like coin base and a few others allow you to buy, but going on a subscription basis for long job savings. so people basically are acquiring good point every day, every week, every month on a regular schedule, and just put it into a long term savings account. and that that means one thing means about price, of course has to go up because it's a demand drawn supply. and the people who are doing these kinds of brains to do this, they can put it back. so $10000.00 a month away, a bit going. and because you know 20 will bit quite what's in the fix issue. it's

right, it's a simple number. the number has to go up now it may jump from 52100000 maybe come back down to 80 meg down to 30 or 40. but as it does it every single month, people are pointing into bitcoin and it's called dollar cost averaging. so they buying it every week, day man, regardless of the price because they're averaging the cost based and so that community getting bigger and bigger are people who subscription buying, but the coin every single time i'm selected. so this is, this is the always eating and right now, and i'm, if these people are telling me a bitcoin, which isn't really happening based upon on change just to see the big current prices kind of going to hold up. but if you've got critics like neural rubini, i'm sure you're familiar with neural ruby. nice comments. he says it's the mother of all ponzi schemes, but it depends upon other people buying and holding on. and at some point there will be a collective realization. and this will crash in many people will become part. what is your response to someone like?

no real rubini who worries about the downsides. so yes, i do, you know, neural and we've got to be to ship a lot of them, they say isn't bitcoin. and quite frankly, i'm, i'm, and they say on some things as well. i think that there's some issues don't make sense. but, you know, i always learned that you group, you know, what, what the market does not what the market says, right? so people thing is getting up to 2000, whatever the buying to be, look at the selling it to any and your personal opinion doesn't matter, the market will do what the market does. and so no real and pita, et cetera. there are to me emotionally attached to the outcome. either way, you know, nora wants to be right. and so there's financial thing isn't goal. but the market distribution in finance, maybe it'll do that in the future. who knows? the fundamental issue is, nobody knows, no one knows how this plays out, and yet it doesn't make sense. but you know, maybe there's a paradigm shift,

maybe the oil changes. and so significant way which means between you know, go off. 1 earliest this is to i think people often to negative or to positive and you but at least have met that this is an experiment this play out over 12 years or 30 years and it is continuing to make headway and continue to go out. and so i please, you're a trained reverse on please you somebody which shows you otherwise, just part of the numbers. the numbers basically say this is diane and i put the ration and no one else opinion can change it right now. what are the trends in crypto currencies with regard to people knocking out the middleman? the efficiencies that are created? yeah, i mean the, the banking for a 2nd. right. what is really banking? what is it? it's institutional custody. you're fine. so the bank there's, i'll hold your money for you and when you need to give it to someone you can tell us or we'll make a payment for you or will invest it for you or what you should look. anyone can be

done. bank, anyone can hold their currencies, whether it's stable quite a bit coin, you don't need to have a bad, you don't need, you can burn on devices. so the idea that money can be centralized in the back in the banking system is, is kind of an ancient idea and the new idea. ready is that everyone else is able to be down back. you know, i think we're very early stages of seeing the way this plays are in the same way that the internet where arrived there was like, this is going to kill the newspapers is going to kill travel agents can kill these of industries. and you know, we still have some federal agents today. we're still having newspapers exchange their shrunk in the industry chunk, the few of them. but it didn't happen overnight. it took you know, decades to happen. so kind of like i caution people with thinking that this is going to happen overnight. what would happen overnight is you know, what i'm seeing is market places will phone where people can do much,

much lower peer to peer transactions and with lower fees. and so that's a huge benefit for people right now. so let's talk about the global bad guys and bitcoin, one of the other dimension. if i were to organize an event in washington dc on this subject and convene people, you know, who's going to show up the f, b i the cia, the department of defense. what can you talk us through for a moment? what your concerns are about the security side of this equation and what needs to be in place that's not there today. so this for the record, my company civic provide you know, k y c which is know your customer now, anti money laundering technology and services and i verification. so we're, we're building all revealing who's on the other side of the transaction. now, what i can say is this, there's 2 sides to this coin. first of all, there's the, you know, call the 1st 6 to 8000000, maybe 10 minute coin, the minus between what,

which is largely anonymous. we don't know where that money is been or who owns it. we kind of know which one is on it, but we don't really the ideas on these people are so, and we always, you know, there was some activity back then there was a lot of dry and markets and munitions activity back. but the good news is on the back in the next 10 minute coins remind is kind of well known visa minors, operating china or wherever part of the world they have k y c done. they sell exchanges. so the real question is like, how much of the big market cap is in the hands of people who are, you know, bad actors so to speak? and when they want to convert that into capital into cash or use it? well, they have to go through exchanges which have k y, c, a policies do stupid transactions, other bad guys, you know, so that's the question. i mean, you have things like the centralized exchanges and, and whatnot where there is no identity testers. so the governments are coming in and they say, we want to try and shine a light on who owns these coins at

a very high level. and so we don't want to be having any terrorist financing happening is us my view and the government perspective is they it's, it's kind of like the latest they showed us, you know, people years ago and they kind of woke up now realize is a really big market cap, a big claim, a lot of money sitting there and how do we deal with it? and they're really trying to over compensate for their lack of action 4 years ago. and so that's the concern, is the industry is burgeoning. yeah. and you're trying to kill it because you guys are sleeping on a job, you know, 3 or 4 years ago when you should be more active about this. and that's not any one particular government, that's just the global market. and somebody who's been smart about it. so haven't, but these are the, it's, it's so difficult to enunciate this sort of issue or because it's so multi dimensional. i mean, i can take me an hour to go to all the different facets all. well, what about this, what about that? what about this?

and don't, you can respect to that, okay, well government, you know, they messed up and now they're going to come in really hard, or you can say, look guys, you know, let's just find a way going forward that keeps the good. that is, you know, engaging with each other and see if the back is on the sidelines. are they trying to enter the marketplace? well, it's kind of locked out and they're going to figure out, you know, they giving a court or whatever the case is. so when it comes to things that the centralized exchanges my company's work on a layer so that you can actually trade on the bias changes because the polity by exchanges you said is counterpart. and i want to go, you know, put in but coin by here. and i don't know who the other person on the trade is. i could be a trade with someone who's a really bad actor. i'm giving him but point. right. and so i think the world needs to get crypton to interface with the, with the well and with the banking system, we kind of have to adopt similar regulatory standards. so that this parity be here

too. but, but the, the crypto will get the benefit of not having any centralized ation or not having any custodians. we are finally, you can be a bank and the bank, you will have to compete that commerce, even the plainfield on the regulatory front, the company was going to destroy the banking sector. and, but the concern is if you over regular crypto, they do the banking sector, unfair advantage of a building company and, and be having like the regulations. you basically are you seeing corruption, the system because that means the radios of bearing the banks and trying to protect them, and that's not a might be what we're beginning to see vinny. what do you call it regulation, but you're beginning to see more people comment in the us side about concerns about what's going on in the crypto currency world. there's also been interesting in how you tax it. so as part of the infrastructure bill that is, that has just passed, at least in the united states senate, but we're waiting to see what happens in the us house of representatives. the

payment scheme for that in for structure in part depends upon, you know, taxing brokers which could mean minor is under the current piece of legislation that is past. and then in china, when we see that the moves by the chinese government, which seem to be very, very hostile, in my opinion, to the crypto currency world, do you have a worry that that regulation world is going to spread and choke out the opportunities for crypto so cuz there's the big industry, i think the coins may come under attack, but point one of them for example, but doesn't mean that i think that to some protecting criptos it's very, very, very large. so how do you every single point in every country? it doesn't work, so no government have to figure out a way to do this. the some of the regulations are just kind of crazy and it's got into that these regulations, people move from crypto unfriendly countries because of the companies you cannot protect the banking system. you have to assume that the banking system is going to be, be, you know,

it's good. dia over time. so just basic level playing field at the banks by that with the telcos. finding the banks for years they've lost largely crypto is not buying the bank just kept that things going to win. and the base system is not in this, and we all like that, you know, the find a ridiculous amount of fraud that happens. the bank, given with all that k, why the people who work in banks are actually i like i would say a lot of what i see people in bank. they do what other banks do that they don't be in trouble. they're more interested in saving the job and solving the problem. and so what you find is like example, i sent a wire to some scammer, some foreign country, that money's gone right, right. well, you know, you back, you know, recourse to the bank and say, hey, you k y, see these guys, the name of the account was this, but it wasn't really that side. that's it. so what is the point? what's the point of all these regulations came? i see it's interest when the banks on be held accountable for bad and so,

you know, i think it should be yeah, yeah, the people and say, you know what, we don't care where you want to use banking or crypto or whatever else or even using a telco account doesn't matter. you can use it time to pay for stuff if you use come to countries you can use, right? we're here to make sure that there's no terrors financing. there's no, this is activity, there's no money laundering like that. and the rules we set for banking on the same rules for everyone else and whether you want to use one of the services it's up to you that's, i mean, my idealistic sort of balance view. the reality is that the bench, you know, and the politicians in many countries based together and so the banks will fight that notion and they will the banking system once heavier regulations, the crypto because they realize the crypto is a message straight to banking. well, you know, we've seen now vinnie companies like wal mart visa. ah, a country like the government of el salvador. now moving to be quite crypto friendly, you know, crypto transactions credit cards based on crypto,

encrypt those savings. governments that have now establish this as a national currency, do you? so let me ask you for a famous vinny prediction. when you think a year from now, are we going to see more government, more large companies? do you see the trends, you know, continuing, we're seeing today or do you see that this is largely still a very tentative process? no, i didn't. i didn't know the car back. i think every, every major company that so let's go to visa is recognize that they tire the system is both on the banking system and on the bench. and they've recognized the banks in trouble and they just didn't train rating slow. the banking system doesn't realize how much trouble they're actually in these is a really smart, you know, silicon valley based company raid. and they know this is going to be the end of the banking sebright and the bank for some classes. these are still want to function,

right? so they make, they basically, you know, future proofing their business. bye. thank you very diplomatic. i was, was i'll be list if that makes you say, you guys keep thinking, cook does not going to be a big, we're going to make sure that we don't really care whether crypto u. s. d. c or bench and ways that process with the network and quite frankly, visa it doing a really good job in this, in the sector right now. and the banks are sleeping on a job because the bank watching visa, do you know what and i and, and when the will changes and they realize they blocked the edge. visa will still be there. processing progressions, criptos save a pe, felt safer, square, save all the next generation parks out there. the banking system is so far behind right now. i don't believe they can catch up. i don't believe they have to tell us or the people. right. and the reason for that is back in either breaking, aggravating, and they come to me to ask the question, what do you think?

i'll be like, well, who the smartest person you know company? well, johnny over that, i'll be comfortable to yes. and what is your salary? $200000.00. why do you think he gets paid $25000.00 a month because he wasn't early enough to make money? the dollars crypto? recognize what you do. you think he's one of the smart guys? i think he's one of her guys who just didn't make the cut in crypto. right. and that's we're right in the near the envelope. but i gotta get a quick question in here. you on mosque has said because of all the mining and the use of energy and bitcoin that, that, that dirty currency. but don't coin is a clean currency. what is your response that you on mosque? so you don't is, is right to some extent. ok. the view of my view in energy is that like bitcoin or will help accelerate the teen energy for the world if it gets use of scale. but the reason is because he's right on a fossil fuels or whatever at scale. and so is a large amount of periods you're going to be quite a bit quiz,

capitalize some of that innovation around a key energy, right? even is right about a couple of things. and this goes back to the. so skating was 17. the number of transactions put block in bed queen makes but quite a very inefficient block of block chain full of transactions. because you've got a fixed number in the block size of the queen was 8 times the size. you can put 8 times transactions the same. i really just use it. right. so this is a problem, a bit point. and when you get those going, well, don't communicate, experiment more, trying to expand last time. all those things. there's some centralization concern there, but other than that, it's really, it's a mathematical function. yeah. right. more transactions but lot equals less cost of electricity per transaction, and it's quite as constrained to $7.00 transactions the 2nd and why make it my blog? and that's kind of my, well yeah, it is what it is, what it is got. got it. i'm going to squeeze in one last question. you are

a shark on the south african version of shark tank. so separate from the crypto question, when you see these entrepreneurs out there, young and old, people come with a crazy idea. what do you think stands out? what are you looking for? you know, i always for the people, because i think it's the people that ideas come and go, they change the vol, but you find good times people, small hardworking, willing to make sacrifices, you know, you should give them as much money as you can invest them all day and they fail, that's fine. i look at people, i look at my relationship with entrepreneur as a big hey, i want to back you in this company and the next, i'm an x and the next. and so you get a get a big hit, you know, that's, that's kind of my perspective. and until you prove me, otherwise you are high quality individual. i'll just keep giving you money as an investor or any link. i'm serial entrepreneur for a board member, the bitcoin foundation and currency of civic in california, and star dragons dan and shark tank in south africa. thanks so much for being with

us today. they see. so what's the bottom line? crypto currencies have forced us to think about this big question. what is money? businessman eli must twitter to few months ago. that money is just something that quote, allows us to avoid the inconvenience of barter. that means it allows us to have a way to treat apples for teslas. and by that definition, anybody can really invest in anybody without the middleman, by which i mean the government, as millions of people start to trust and use these crypto currencies, they're becoming more real. the reasons that governments don't like them is that they want to control the flow of money and they don't like when people can hide from them. and they especially don't like it when folks are making money without paying taxes. that's partially why you have some crackdowns on crypt worldwide, but there's no denying that big crypto is here and has been for a while. the struggle between government and those who want to push the envelope of what's possible on the internet is really just beginning. good luck to those who want to stop them. and that's the bottom line

ah. challenging the brazilian dictatorship, the democratically run football team. lindsay and has changed the course of the nation. the percentage was a revolutionary football, known to locals, as the doctor. football rebels concludes with the celebration of life and legacy of socrates and the corinthians, democracy movements on al jazeera and we're gonna hands on working in asia and africa. they'd be days where i'd be choosing and editing my own stories and a refugee camp with no electricity. and right now where confronting some of the greatest challenges that humanity has ever faced. and i really believe that the only way we can do that is with compassion and generosity and compromise. because

that's the only way we can try to solve any of these problems together. wells is there is so important. we make those connections. the news. i'm alamo, he didn't do how, with the headlines on al jazeera, the televisions co frontier has arrived in afghanistan capital for talk soon, forming a new government's will abdul gotten abroad to lead the groups negotiations? in doha, the taliban says the future governments will be inclusive. charlotte belo says more from cobble.