execution, eli cohen's most at agent atl on al jazeera. ah . knowledge is 0. where every oh ah, hello, i'm darn goldman dough. with a quick reminder of the top stories here on al jazeera, russian forces of expanded their offensive and ukraine. launching attacks on 3 cities are also entering towards cave and appeared to be regrouping for a possible assault on the capital. or the other hamid, as in denice pro, where russian air strikes it close to a kindergarten and apartment build. it was 5 55 in the morning. and much of

disney pro was asleep only to be woken to this. one of 3 explosions that rock to city caught on surveillance camera. oksana didn't hear the air raid sirens, but the force of the blast shattered the windows and her ceiling collapsed. she lives on the 4th floor of an apartment block facing a shoe factory, but use an apparent target of russian missiles. we didn't expect anything in neat pro. there are no military facilities around the russians was saying that they would only target military infrastructure here. there are only residential blocks. the school and the kindergarten windows were het sees him. as he says, the rockers were launched from didn't yet sweden, in terraces controlled by the rushing back separatist. this is the 1st time this city has been targeted since the beginning of the war. now that will have a huge impact, because so far me pro has been

a transit point for people fleeing other areas in eastern ukraine that were under heavy bombardment. the immediate impact long queues outside the train station. people standing for hours in sub 0 temperature patiently waiting to escape, despite the fear of another attack. catch at the decision to pack up and leap as soon as he heard early morning explosions, obama phone has been dead. it's a nightmare. nato is not doing enough. they should close the sky, right? they should do more. many of those standing here had fled the horrors of war once before their home towns already destroyed. now seeking safe refuge again. irina and her 2 children drove out of how to keep after russian dead fighters flew over her neighbourhood for days and the shelling became closer and louder. this conflict has torn her family a part. listen again, sister to lensky,

won't do what russia expects from him. so we don't know what awaits us. of course ukraine will not compromise. my son also says, no, we were living in hell in hockey for a week. and now we hate russia. well, there we have many relatives there. many of those leaving will during the $2500000.00 refugees that have already crossed into neighboring countries while those staying wonder what's next. and a good honey al jazeera jennifer would be questions remain about the safety of ukraine's nuclear power sites. ukraine's regulator says electricity supply to to a novel has not been restored. despite russia's energy minutes. you saying it was reconnected on thursday. ukraine says russian soldiers of kidnapped the mayor of melissa paul. that's a city in the southeast. the government released this security camera footage, which it says shows the abduction of ivan federal at the top of the screen. what speaking earlier president vladimir zalinski called on the international community to help free them f alone,

us boot grain. here we are in ukraine. we are in europe last. we have a democracy here. no more. therefore, the kidnapping of the mayor of mila topple is a crime abroad. not only against a specific person, for the cause, not only against a specific community, and not only against ukraine wars. this is a crime against democracy. but you, as an accused, russia of using a un security council meeting to spread lies and disinformation, ambassador linda thomas greenfield said russia is playing out a potential false flag operation where it fabricates allegations about biological weapons against ukraine in order to justify retaliation. meta, the company that owns facebook and instagram could soon be banned in russia as an extremist organization. the move is in response to facebook announcing that it's relaxing its rules on colds for violence. is now a partial exception. on the target is russian troops in ukraine. those,

the headlines, the news continues here on al jazeera up tapia stage, and thanks for watching black ah, 7 years ago i made a film about the history of money banking and bitcoin. what was going on, buckle up. we said it's going to be a bumpy ride. and now some of the big brains and big egos who championed crypto currency claim they are building a crypto utopia. magically things will happen. it's something called block chain technology. and it just my change your life and they really couldn't complete with, if not even take down the facebook and google's in the amazon. my name is tossed and huffman 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 and see the paypal to a piece of us all of our lisa. 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. well come to ground 0 in the battle for the future of internet. wet 3 point, oh they wanted a science fiction dreams. what they actually did was builds forthcoming disaster. lot of people were not willing to learn or not willing to admit they were wrong. wrong, even telling me that i have no clue. that's just what you don't support free speech . you don't support bitcoin, you're an enemy of it. this is bigger than the internet, the iron edge,

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, that, and there never will be. oh, and almost all of 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 use credit cards, debit cards, pay pal or bank transfers. they're all just pluses and minuses and different digital letters. that's why there's almost no need for physical money in our daily lives. during the financial crisis in 2008, i'm a student's figure, colts attaching a komodo published this 9 page white paper. it said with bit coins, open source software. we can credo, or money without banks or governments. ah, this new nerd money called crypto currency is created and stored in computers. and before long there was a growing fan club, mostly guys like roger via today, he's a polarizing figure, but big then he gave away thousands of coins to kick stop 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. 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 there. 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 planning to go to work then 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 a date up all night. the next night he went deep down that rabbit holding her to the point of physical exhaustion office. 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 humankind. 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. your key opens one of the boxes where you can securely store physical valuables, like gold coins. in did coin their digital keys. think of them as very long passwords. your private key gives you access to a wallet, which unlocks billions of unique decoy 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 21 bit coins, sending them from one box to another is what's called a big coin 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. ah, foremost 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 bit coins as payment for physical things. b as in bogus backing. 2011. there were no mobile wallets, right? so you had to go there, bring your laptop type in this long address. you risk losing the money if you didn't type it correctly. so the 1st guy who built the money by law was some guy in berlin, 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 lungess, right? just moving data, we can send pictures or videos to any one on the planet almost instantly and for free. we live in the h of the internet, but the bank seemed to be stuck in the past century. so what if the slow, inexpensive middle men with m multiple ledges could be replaced by a giant database 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 big 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 in a fantasy on being paid in bitcoin and that one of the women that hadn't abusive husband and saved up her big 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. the 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 the silk road was a black market on the donkey where buyers and sellers use bit coins to fly under

the radar of the authorities. it had 1000000 uses until the s b. i showed up and shot it down. they caught this guy for running it and confiscated the coins held an 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 them. bitcoin said the government had obtained from the silk road case for their own gain. and what was interesting was she got a tip that there might be one. 0, one agent that was doing this. but from looking at the movements on the blocking itself, she realized that there were 2 people. the prosecutor could see those big coins

being moved. and when the dirty corpse tried to sell them $4.00, they got busted. while they thought that technology provides anonymity, it actually enabled, i'm covering their crime. but what makes bit coins worth stealing? why do they have value at all? let's go back to where bit coins are stored in transparent digital deposit boxes, protected by strong cryptography. they can never be copied or leave the vault because any transaction of any bitcoin down to a 100000000 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 a movie, a song, any file, but for the 1st time in history, this distributed record keeping 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. ah, 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 lim, it supply of bit points. you do the math if you use euros or dollars, you might not care about a little inflation per year. but if you can see, isn't stable, you might be a trillion and paper and be dead broke. i grew up in, but i wanna in the same part of hard to deny my parents, are she branches there? and i remember growing up in my childhood. so my parents lose everything 3 times.

first, because of a huge evaluation then because of hyperinflation and the last time because the government confiscated all of bunk, the boss it, i think that they, there 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, and more than mccracken we think of finance. we think of banking, we think of money in terms of the experience and perspective of a western european or developed nation person. and that is really just the 1000000000 and the 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 currency that is very open and permissive. and every single country that is unfree has restrictive or band crypto currency status. this is the berlin wall, still 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 still think they can stop open source software. i looked 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 oh, 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 fed 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, for currency represents a litmus test for governance. it reveals how much your government believes in

a, in the fundamental freedoms and, and human rights. because if they don't trust their own citizens to have control over their own money, that's a lot about the government says very little about crypto cards. you see the reason why some governments in most banks are threatened by this technology is simple. you private key and your wallet can replace your bank account. the network is run by software, and its currencies made and maintained by computing, power, and electricity. it can't be manipulated by central bankers, wall street lobbyists, all politicians, but with new freedom comes new responsibility. so if you control the keys, it's robin point. if you don't control the ease, it's not your bit court. your keys dropping point knocker, keith matcher big boy, your keys, you're a big, quite natural. he's not sure of a boy. got that. if you lose your key, you will never be able to access your coins again. and if someone hex,

your computer where you store those passwords, your coins will be stolen in a 2nd. and remember how, whence as a family had them money stolen by the own government? well, maybe that's why he built the fort knox of bitcoin security. is apple. most of our 7000000 customers are in emerging market. in countries where there's a problem with a currency, we have explosions in activity like venezuela rine, our therapy, and we develop the system of vault will we have 5 private keys for each one of our to begin addresses. we keep those private keys in an offline, sorry that has never been online, will not be on line. it's inside the vault, the voltage inside a bunker, usually deep underground. our main one is in switzerland near the commission military bunker. i just hate to see it for myself, even though it took months for us to get cleared for a tour. we

were met by christopher smart, a former military commander who runs the place. and their representative from sample kristof said the gods would rather shoot us than show us around. i hope he was kidding. they need to bring in the material 3 on the side of the personal lock. first up, one more check of our i. d 's, a pet down for weapons or any other monkey business and gear inspection. even the boss was searched. it took nearly an hour to get my team through security, but it was worth it. no other film crew has been allowed access. we are the largest custodian, a fit going in the world because a lot of the largest holders in the world use us or security rumor has at the 10 percent of all bit clients are stored here and in there for other secret locations . but unfortunately,

i can't confirm any of those numbers from the mountain. we are getting a lot of benefits by earthquake proof flooding proof. but on the other side, you're facing a lot of additional costs, like maintaining 7 independent back up power supplies. the labyrinth of tunnels deep into the mountain is interrupted by nuclear, great dos. it's a level of security apply to all of the data at rest of protects here. not just for example, we cannot talk too much about it because it's a pre secret. what is our hobby allowed to film? they're mel the doors that remain shut and security measures we weren't allowed to see. and some of those checks may be biometric, 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. yeah, pretty much have a direct these on samples actual service, but if you've ever wondered what triple currency thieves dream about, it's sitting somewhere down here. unplugged from the internet varies absolutely no way here are way to attack the day, 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 kind of be in my basement while the surveys and the base it still can be sold. right? so easy to like, money is 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 crib to fund out malta. 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 per 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 risky. you may lose. the 2nd biggest financial mistake you can make is not to own any because you put 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 gonna be more than a 100 percent of your net worth. so with a non material exposure, you change your life. now what you would spend with your on a romantic weekend with your wife, say, sorry, we're not going to go out this weekend. one is, is by bit going, consider it, spend it disappear,

check in 7 years. i either gave you buy the lice and cost your weekend or i want a grandkids call one seat. ah. but what do you fail to mention is that the currency, the micro transaction, all of that is in railroad. right? meaning all of the critical currencies are wait, the wallet that for anyone to take them seriously. hold on. let's go back to where we started. bitcoin was treat as peer to peer electronic cache. that was the kill that a payment directly from you to me. from me to the coffee. so i have bought a bag of coffee for 2 bitcoin in 2012 which to day cost me $12000.00 in today's money. that is a deflationary a fact. as long as bitcoin keeps doing sudden increases in prices. that's going to stop retail youth 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. and one philosophy could be described as the coin additional goals. and the other philosophy can be described as bitcoin as digital cash. bitcoin wanted talking with what we've already met, the digital gold camp who opposes any changes to the protocol despite the hi fees raja represents the other side of the debate. they wanted a system upgrade. the solution is easy and just increase the size of the blocks from one to 248 megabytes. so that more transactions fit into them. this will lower the fees, and people will start using bitcoin as cash again. but most of the community disagreed. so bitcoin, jesus had become bitcoin, judas, 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 that 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 to 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 pickling cash. i think it's she'll have to say that and causing people to, to buy. they can cash when they actually want to buy pick coin they. i was just going to be cashed ng is for miss you. she wished and for i'm been told few, i'm your quote to d for the english, rosie doc was a call from bitcoin. be cash. cough tom, depressing. he had some of his jealous renisha nuclear. those you're faced, a bit coins could call them coming up with block chain explained and predicting the future of the internet along with living in a war zone is

a race not worth taking for most but for a 10 year old boy, there is nowhere else to go in the absence of his parents, his grandmother dedicates herself to his upbringing. never knowing whether the next explosion will echo one step closer to the place they call home the distant barking of dogs. a witness documentary on al jazeera. just the right is here to report on the people often ignored, but who must be hurt. how many other channels can you say? we'll take the time and put extensive thought into reporting from under reported areas. of course we cover major global offense, but our passion lives and making sure that you're hearing the stories from people in places like how is fine with yemen, the south region, and so many other we go to them, you make the effort, we care with state or china in the u. s. sleep walking their way to

war in the struggle over ukraine. here's the test for president joe biden with ms. really trying to do is rewrite the security architecture in europe. if your person united states you, sir, if you go to walking through gum at the same time, you're weekly, pay on us politics and society. that's the bottom line. lou . hello, i'm down jordan doe, have the cook. remodel the top stories here and al jazeera russia has expanded its offensive into western ukraine and talking 3 cities, including to me, pro desperate conditions, persistent khaki, ba mario pole, and russian forces engine towards key. ukraine says russian soldiers of kidnapped the mayor of melissa paula city. in the southeast, a government released this security camera footage, which it says shows the abduction of ivan federal at the top of the screen. while

speaking earlier, president vladimir zalinski cooled for the mess. release alone, us boot grain. here we are in ukraine. we are in europe last. we have a democracy here. no more. therefore, the kidnapping of the mayor of mela. topple is a crime. not only against a specific person for the court, not only against a specific community, and not only against ukraine wars, and this is a crime against democracy. but u. s. has accused russia of using a un security council meeting to spread lies and disinformation bastard and linda thomas greenfield said russia is playing out a potential false flag operation where it fabricates allegations about biological weapons against ukraine in order to justify retaliation. rushes calling for this meeting is a potential false flag effort in action. exactly the kind we have been warning about, including from secretary berlington here in the security council last month. russia

has a track record of falsely accusing other countries of the very violations that russia itself is perpetrating. and given that and consistent with our previous statements, we have serious concerns that russia may be planning to use chemical or biological agents against the ukrainian people. big questions remain about the safety of ukraine's nuclear power sites. ukraine's regulator says electricity supply to which a novel has not been restored despite russia's energy ministry saying it was reconnected on thursday. ukraine has warned of a possible radiation league if storage units remain disconnected. metal, the company that owns facebook and instagram could soon be banned in russia as an extremist organization. the move was in response to facebook announcing let's relaxing its rules on calls for violence. there's not a partial exception. when the target is russian troops in ukraine. well,

those are the headlines. the news continues here now to 0 after crypto. yes. that you and thanks for watching bye. for now a long time. i know i know you want to find out what any of this has to do with this new crypt. hope hear 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 charlie lee was a google engineer, he wanted to foster and lighter version of sato. she's crypto currency and was one of the 1st to experiment with the open source software. the actual coding names of the like the code differences between, between like coin was actually pretty trivial. and what, what does that mean in time? like i always say like 445 hours, light coin. it was one of the 1st alternative trip to currencies or all coins. some of the early adopters, like charlie made fortunes. soon there were hundreds of coins 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 question. chris currency advocate. just 19 years old. vitale was on a mission to make money programmable. he build a separate block chain called the syrian, its own currency called either comparison, might they be quiz like a spreadsheet and is here him is like a spreadsheet with macros. using all analogy serial allows you to store crypto currency and computer code in the same secure box. here's how a smart contract might work in price. let's say i bet charlie very 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, as my contract is neither smart nor contract, it's a dumb program. and 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 bed 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.

proponents say that if we used smart contracts, we could tell the bankers lawyers escrow agents and wall street finance guys to take a hike. no. so what we're doing is we're saying we have this a theorem network inside the 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 $1000.00 to 2000 either for one bit going. and that's how we're going to raise money. it worked, metallic, figured out a way to fund the theorem 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 nothing 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, it's just a 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 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 coin. it was a man gold rush. 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 bulgarian. i feel, actually they just posted a photo of ryan bossing. another project raised millions in etha and then vanished, leaving investors with this website looked 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 eco maximum was evil on the care about the client. everything else is claim sure. there are tons of useless projects that will never work, but maybe i was a bit too hard on. i see else democratizing start of finance can be a good thing. they've also many legit companies raising capital. over the years i've met many founders who have real offices with real people trying to solve

a real problem. but a big point, maximum list of a block chains i c o 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 all the model 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 could use blocking for, right? and so people have the, almost like different ecosystems. and then when you see it's almost like an illusion, every process right where the block chains fork and they have the same as histories, but they adopt

a different environments. and we see this like ever increasing level of diversity. a number of block change to the idea that there's like one block chain going to be one block and it's going to be fit for everything. it is 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 live on the name and he's up to me taking off his bus. besides, by an auto asked alon by being vague 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. ringback 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 announced a crypto currency for the 2000000000 uses. such a system might be more efficient than a public doc chain, but this 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 much more exciting than tokenize securities, operational businesses where it's just an 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 founder and chairman of pal ledger and we use the block 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 benefit. but using up that the tenant will pay the bill to the body corporate using power ledger the $10.00 and paste the 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 crates the mechanism to justify investing the capital in. 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 tractable on an exchange, or in 2 or 3 solar panels of a 1000, you know,

in a sofa and you would repay 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 morning, photoshoot anti bank invention and all being used by the banks to move money faster and buy big business to track supply chain ah, crypto currencies digital tokens, public block 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 years oxford. i'm a faculty. i'm economic sociologist 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 arc 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 up 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 u . s. 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 in

she had a bunch of questions, but her 1st one was how did i manage to can the full, the governments of the oral politic bill, the internet? and 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 answer and thing was going to lead anywhere. and, you know, we pretty much had a free running room. yes. that's the man who, corn vender, tcp i 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 wind by default on it, one through attrition, by basically being better simpler, easier to deploy them all of the all scalable and more scalable. and it had a lot of competition from phone companies, and then there's email e mail. ira that's really neat. e mail was perhaps the internet 1st collab. then in

the early ninety's, tim berners lee introduced the world wide web at a 20 page proposal. soon there were browsers that made it more accessible and user friendly for the general public. but i think that 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 e cash. still few understood the potential of this new tech from people that thought it would as 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 as today, but 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 pita files and pornography hers. and it's too dangerous to use a credit card on it. it's full of scans. we're seeing the exact same story now. we envision technology as if it were autonomous, as if it were simply outside of human and social experience. what we see are technologies that become shaped by commercial interests, by political and regulatory infrastructure, by actors who are acting for many reasons, right? where do you remember bob? the big telecoms wanted his thoughts on a little idea that were kicking around. 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 got ass out myself by an executive at a large information company. it was 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 in control that it took

a few decades in hype cycles. but the wild internet was eventually domesticated, co opted by trillion dollar companies and then fundamentally 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 you ideas, preach the gospel, bad mouth, the king all promote communism. to dave the world wide web, we can stand on giant digital so boxes using facebook, twitter, youtube. we can share our ideas, or thought a fight with any one on the planet. oh, wow. really? well, almost any, one of 65 countries thought it china has the least free internet worse than iran, cuba or syria, a police force of more than 2000000 siva cops and the woods,

most sophisticated, artificial intelligence system, keep china's web content clean and uses in check so authority to break it to you, but there is no longer world wide web. welcome to the sprint than it to be fair. some of the censorship is to prevent terrorist recruitment or to stop violent moths from hurting people. but i think government control over the internet has gone just a little too far hold on. so she turned 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 on sensible 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 ethereal 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, forever. 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. well, 3 point, oh, you can, for instance, offer file storage in the way that an amazon does. or that you could offer a search, you know, the way google does, but do it in a peer to peer fashion. without this behemoths at the center, extracting rents and do it in a way where all the people that are users or they can benefit. and they really could some day compete with, if not even take down some of the big tech chinese, like the facebook and google's and the amazon that we know that's a tall, tall order. it is, it is. but i mean, who would have thought at the beginning of the internet that would be when beat out

and card? 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 middleman anymore. it's a trust list 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 there's 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 is 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 or the transactions are

paid to establish trust between trading parties. like we're paying for lawyers, we're paying auditors who are paying you please, even regulators government to, to build trust, ensure everything will be enforced. so talk to quite a bit this block, hey, is the 1st time that we saw some technology that can eliminate the cost or reduce the cost of trying to dramatically magically things 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 issue. 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? any one things. 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 the coin, they coined it's really a very decentralize and networking currency. he was intelligent enough to know that a system without a father was going to be much more robust than a system 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 fantasies onto his legacy. for some it's money for the internet that can replace middleman and bank the on

banked and maybe a tool for less a trade or is it digital gold? a totally new asset class. a bet against the bank has an 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 farrah finance, which is why incumbents fight it. some say public block chains are just slow and useless databases, while big business is busy building private block chains to boost efficiency. or maybe this decentralized technology is a new protocol layer for the internet. upon which we can build a better web to dethroned the tech giants, reclaim free speech, protect online identities, and facilitate free trade in a border less digital economy. and yes, maybe even save the planet. let the never ending list of crypt hopin ideas.

isn't this a bit too much to ask of a 9 page document? yes, sure. the internet and the web started out as white papers too. but it took decades before its infrastructure was built, became user friendly and ready to scale globally. we kind of domesticate the wild potential of, of technologies into what's familiar. and we dramatically underestimate or under imagine what that technology may eventually do. it'll be the uses 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 uses don't care about the wires that move 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, that shows a little lighter and their lives a little richer?

ah, each and every one of us is about to responsibilities. to change our personal space for the mirror a we could do this experiment and if by diversity could increase just a little bit, that wouldn't be worth doing. anybody had any idea that it would become a magnet school is incredibly rare species for women to get 50 percent representation in the constituent assembly year. and jenny, this is. ready pick up to collect the signatures to say the business, extremely important services they provide to the city. i think we need to take america to trying to bring people together trying to deal with people who left

behind. ah, hello once again. welcome to another look at the international forecast. we got some nasty weather in the forecast across north america over the next couple of days for a couple of weather systems which will bring some winfry weather, some heavy snow disruptive snow as pushes a little further east. so these 2 gathering pulling away we've had some wet weather recently around the florida panhandle. that's easing out of the way. come saturday, those to join together. we're seeing some snow. they're right up the eastern seaboard pushing up across sudden new england into that east. the side of canada, i'm pleased to say it does move through quickly though, so that is one consolation because they will be disruptive as we go through the next day or so bright, just guys to come back, it will be some ice around. of course, it'll take a little while to thor route here, down towards the south. bright, dry and sunny,

some snow coming back in across rockies, and now to some wet weather and some windy weather come into the pacific northwest . and it's that western side of canada, west coast of the u. s. generally try some pleasant sunshine here. pleasant sunshine to wind, too much of mexico, all of that same weather system that will introduce some way to weather. i will slide its way down the yucatan peninsula, southern parts of mexico after the caribbean. still looking back over the next couple of days, but wanted to shout to come, ah, ah news use unit. amazing birds are at risk of extinction. even in vicious plan to rid the nation of if some friendly site. $11.00 east investigate on out to 0. young women with a passion for space. i used to dream about working in a stressful commer been here like nasa, the nasa, a small stuff, the science,

a giant leap for women, kind in ca, gustavo paper don't place it in hide. and at a scheduled time, the satellite could be sent to space. women make science, cargo fit on space. school episode 5 on al jazeera ah, er rushes, bombardments of ukraine widens to cities previously considered relatively safe. ah, milan, don jordan, you're watching all zero's continuing coverage of the war in ukraine. 2000000 people put their faith in ukrainian defenses and keep which is bracing for an all out assault. in the coming days. we're not going to give any more air time to the

wise that you're hearing today's. beneath this counsel rush.