empowering in pasha, we tell your story, we are your voice. you knew your net back out here. oh, i hello, i'm emily. i'm going into harvey's the top stories on al jazeera air. raid sirens have been sounding across few crime this morning, and russian forces continuing their post to in circle cave. in ron con is in the capital where people are hoping to get on to trains, inflated safety, in the way a desperate scramble to get on a train out of keith. but most of these people aren't residents of the capital. they've come from places like a being and butcher on the outskirts of people, places that have seen the worst of the wolf so far in this region. they sit in

shocked silence. women like svetlana, still trying to understand what they've seen in those numbers. my home was destroyed, an explosion blew up the windows doors and everything. all the people who lived in the building ran to the basement. we moved to another part of the city to find a friend's house, but the bobbins continued. even the russian tanks kept firing a tall houses and this is what leslie. ah, andre is a volunteer coordinator at the central station. his job is to make sure those fleeing from outside to keep can get help. most he says, show visible signs of psychological trauma. our priority now is a hot line is air being is vulture, is over. busy so it's just omen and this line, okay. and are actually day out really shocked by all these things is happening are

they didn't expect the russian army to his civilians to head there to it in houses and they never believed it. but. ringback really, under a fire, undoubted sags is destroyed. good houses, many people's cue. the cities already 50 percent evacuated. most of those people actually left in the early days of the war. the priority now is to get people from other front lines like gucci, like a pain into keith, and then into this station and get them out. in many ways keep central station has become evacuation central station tis of relief and sadness as the train leaves the station. besides what few belongings they can carry, they also carry the horrors of what they witnessed, unsure. also, when they might see their home again, whether the home will still be stone. iran con our desert keep central station. russia continues to show the port city of mary, up on the mer,

says 1500 people had been killed in 12 days of bombardment. ukraine says russia wants to capture the city at any cost, so we can establish a direct land corridor to crimea. roches military admits the situation in some cities is catastrophic, but says keith and its allies are to blame. when you don't miss you. good, so no green you. the humanitarian situation in ukraine unfortunately continues to rapidly war soon. and in some cities has reached catastrophic proportions. armed ukrainian forces mines in the residential areas near destroying bridges and infrastructure, little as a result of those criminal actions against their own people. this is the action of the ukrainian authorities. i did, those people are forced to survive without eating food. water, our medication will not hold. the kremlin has appointed and acting mer in the ukrainian city of malli topple. that's after security video relate to by cave reported to show russian soldiers abducting the elected mer. yvonne,

the door of the u. s. has announced it'll rush another $200000000.00 worth of weaponry to ukraine. it builds on the significant shipments at st. in the late up to the wall. france says there's been no breakthrough in efforts to convince russia to end the war. the french president and german chancellor held talked with the russian president on the phone for more than an hour and in avenues as many as 12 missiles have been fired towards the u. s consulate in the northern iraqi city of bill. the pentagon says miss ellsworth 5 over the border from iran. a us official said there was no impact at the consulate. she is currently unoccupied. those of the headlines i'm emily angle, and the news continues here on al jazeera after crypto pia, the meantime had to our website out here at dot com. ah

thanks data. 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. magical things will happen with something called block chain technology. and it just my change your life and they really could complete with, if not even take down the facebook and the google's and 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 was already using it, making it really easy and see a paypal to a patient or a week. and go deep into a secret bunker that holds billions in bitcoin. but they are those who want to kill

it, join with me and introducing a bill to outlaw crypto currency, so that we nip this in the bud or change the world with it. well come to ground 0 in the battle for the future of the internet. web 3 point, oh they wanted a science fiction dream. what they actually did was goes forthcoming disaster. lot of people were not willing to learn after not willing to admit they were wrong. wrong telling me that i have no clue says that's just what we don't support free speech. you don't support bitcoin, you're an enemy of a point. this is bigger than the internet. the are 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. what you probably didn't know is that each new dollar is created by governments and banks as debt, which needs to be paid back by someone in the future with interest. that's why there isn't enough money in the world to repay all that debt. and there never will be. oh, and almost all of the world's money is already digital. just entries in a letter, 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, paypal 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 called sato sheena. 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 start 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 on 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 bit 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. you mentioned 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 edges 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 and canister and 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. 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 kind of system. there's a small claimant use case if you want to trade in things. the government doesn't want to trade in that david polite way of saying illegal stuff. in 2011, most of my partner colleagues were saying 3 whether the drugs pornography on the silk road was a black market on the dark weapon where buyers and sellers use big coins to fly under the radar of the authorities. it had 1000000 uses until the f 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, and all 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 that government had obtained from the cell grow case for their own gain. and what was interesting was she got a tip that there might be one. 0, one agent that was doing this. but from looking at the movements on the block chain itself, she realized that there were 2 people. the prosecutor could see those big coins being moved. and when the dirty corpse tried to sell them $4.00, they got busted. while they thought the 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 the 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 supplies bit coins. you do the math. if you use euros or dollars, you might not care about a little inflation per year. but if you can't, it 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 argentine and my parents are she branches there and i remember growing up in my childhood. so my parents lose everything 3 times 1st because of a huge the valuation them because of hyperinflation. and the last time because the government confiscated all of bunker 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 a 1000000000 and a half people who have a very privileged financial life. what about the other 6000000000? every single country that is free has essentially a legal status for crypto 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 dollar is the standard unit of international finance and transactions clearing through the new york fed is critical for major oil, oil and other transactions. and it is that the announced purpose of the supporters of crypto currency to take that power away from us for, for currency represents a litmus test for governments. 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 it's 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 your been point. if you don't want for all the keys, it's not your bit court. your keys dropping quite knocker, keith landra big boy, your keys, your big boy. ne, not care 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. example. 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 begin addresses. we keep those private keys in an offline, sorry that has never been on line, will not be on line. it's inside the vault, the voltage inside a bunker, usually deep underground. our main one is in switzerland near the commission, military bunker. i just had 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 other side of the

personal log. 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 fit going in the world because a lot of the largest holders in the world use us or security rumor has at that 10 percent of all bit clients are stored here and in there for other secret locations . unfortunately, i can't confirm any of those numbers from the mountain the 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 security apply to all of the data crystal protects here. not just for example, we cannot talk too much about it because it's a pre secret. what is val vera hobby allowed to film there. now 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, but you the cut someone's finger and you're just using it to open the gate. so you might have a direct

these on samples actual service, but if you've ever wondered what triple currency thieves dream about, it's sitting somewhere down here unplugged from the internet. but there is absolutely no way here a way to attack the they always use 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 it still can be sold, right? so, so this isn't like money is data. yes it's, 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 bangs, 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 lawbreakers and troublemakers. he now runs a crooked to fund out of malta. our research shows that the crypto markets are gonna 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 big financial means that 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. i'm on is, is by bit going, consider it, spend it disappear, check in 7 years. i either gave you a bottle of ice and cost your weekend or i want a grandkids call one seat. ah. but what are you failed to mention is that the currency, the micro transaction, all of that is in railroad. right?

meaning all of the group, the currencies are wait to wallet that for anyone to take them seriously. hold on, let's go back to where we started. bitcoin was trade as peer to peer electronic cache. that was the kill that a payment directly from you to me. from me to the coffee shop. i have bought a bag of coffee for 2 bitcoin in 2012. which 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 sell $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 the coin 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 revolutionist followed by the counter revolution, which is usually a purge of the original revolutionaries. when i 1st started covering the space, every one was united in the struggle against the establishment. now, the industry has grown so much that they are competing parties, propaganda machines, conspiracy theories looks a lot like politics. the biggest fight within the bitcoin ecosystem is over at the moment, is who has the right 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 join to say that and causing people to, to buy big cash when they actually want to buy big coin as a just going to be cash thing is from issue shalicia. and i'm been told the omnia clinton d for the english, rosie dr. the call from bitcoin b cash because tom depression, he had for some his sierra energy nuclear, those in your face to bid coins could call them coming up the chain explained and predicting the future of the internet and the oh, when i think of my niger, i think a potential, i think of potential i think of what b, what is not. i think of young people literally take control to the own ends of good something that they come to tell me. it's impossible. i think it on the challenge with a child in their country. my name has been. gotcha so,

and this is my job. my, my jury on al jazeera, the latest news as it breaks. this is one of the growing number of trip points around the city of suffer risha. most of the men that you see here are members of the civil defense forces. they all volunteers were detailed coverage. workers are focusing on the most vulnerable, but many more need help from around the world. because an area that generally fees abundant rainfall, but strong wind, lack of humidity are making it easy for fire like this one to spread all across stories of life. and inspiration, a series of short documentary is from around the world that celebrate the human spirit,

against the odds ah, out, is there a select palestinians? ah, hello, i'm emily anglin, in doha, these, the top stories on al jazeera russian forces continuing their push to encircle the ukrainian capital cave intelligence report, say, russia's military has aged to within 25 kilometers of the city center and a large scale as hat good happened soon, rush, his military admits the situation in some cities is catastrophic, but says keith and its allies answer blank. when you go, as you go up so little green you, the humanitarian situation in ukraine, unfortunately continues to rapidly war soon. and in some cities has reached

catastrophic proportions. armed ukrainian forces mines in the residential areas. you are destroying bridges and infrastructure a little as a result of those criminal actions against their own people. this is the action of the ukrainian authorities. i did. those people are forced to survive without eating food, water or medication will not order. and the kremlin has appointed an acting mer in the ukrainian city of mel a top oh, that's after security video released by ukraine purported to show russian soldiers abducting the elective mer. yvonne, the door of russia continues to shell, the port city of mary off home the mer there says 1500 people have been killed. so far. ukraine says russia wants to capture the city at any cost. the u. s. meanwhile, has announced it a rush. another $200000000.00 worth of weaponry to ukraine. it builds on the significant shipments it sent in the late up to the wall. and on thursday, the u. s. congress approved an additional $13600000000.00 in emergency 8.

france says there's been no breakthrough in efforts to convince russia to end the war. the french president and jim and chancellor held talks with the russian president on the phone for more than an hour. it's the 2nd time the latest have tried to broker a deal in the past week. and in other news, as many as 12 myself have been fired towards the u. s. consulate in the northern iraqi city of herbal, depending on says the missiles were fired over the border from iran. a us official said there was no impact to the consulate which is currently occupied. satellite broadcast channel, curtis done 24. it's okay. didn't need the facility. it went on a from the studio shortly after the attack. this is showing shattered glass and debris on the studio. so those are the headlines i'm emily anguish. the news continues here on al jazeera after crypto crypt tokyo rather stay with us. ah, the health of humanity is at stake. a global pandemic requires

a global response. w h o is the guardian of global health. delivering life, saving tunes, supplies and training to help the world's most vulnerable people, uniting across borders to speed up the development of tests, treatments, and of vaccine. working with scientists and health workers to learn all we can about the virus keeping you up to date with what's happening on the ground in the world and in the lab. advocating for everyone to have access to a central health services. now, more than ever, the world needs w h, making a healthier world with everyone ah,

along with i know, i know you want to find out what any of this has to do with this new crypt tapia, 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 was a google engineer, she wanted a fast 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 because my coin was actually pretty trivial. and what, what does that mean in time like ah, i would say like, 445 hours. light coin was one of the 1st alternative, tripped 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 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 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 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 smart 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 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. 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. also 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 own money. it worked, metallic, 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 in i. c o sound similar, but they have, they are 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, it's just a white paper. and so people are just buying into trust interface that this is something that will exist. the goal here is like,

ultimately i like to say 8 year olds building. there are 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 area 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 eco maximum was able only 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 see else democratizing start of finance can be a good thing. we'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 real problems. 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 varies and all that rock st. health care industry and the all the model is coffee is what you're 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 the different things that you could use blocks in for, right? and so people have almost like different ecosystems. and then when you see it's almost like an illusion area process right, where the block chains fork and they have the same as histories, but they adopt different environments and we see this like ever increasing level of diversity and number of blog change. i think the idea that there's like one block chain going to be one block and it's going to be fit,

verifying. it's almost like disregarding the nature of evolution. meanwhile, the big corporations have been studying crypto currency. and they think that bit cons underlying database is where the magic is, the more on the boardrooms, the 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 be taken on miss bush. besides by court order, i 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 condos really came from. who 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 for 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 occupying 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 security, the creation of businesses where it's just equity that you probably around. it's 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 it that we're seeing our maker down finance, which is finance for and 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 the 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 apartment building often nearing the tentative, and it main if there is solar panels, the apartment isn't really incentivized, so i'll go back to the 10 if it. but using up all the tenant will pay the

electricity bill to the body corporate using power ledger, the $10.00 and 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 the power bill, and making a profit for the owner. it actually create the mechanism to justify investing the capital in the best buy. 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 kind of invest in a solar farm without this new fancy tech? the chain acts as a kind of an income register. and in taking the asset, it becomes tradable on an exchange, or in 2 or 3 solar panels of a 1000 in a sofa. and you would receive 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 is now 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. yours oxford. i'm the 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 technologies start out as interesting ideas. some of them begin to develop the 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 they're separate networks. this young girl got up and she had a bunch of questions, but her 1st one was how did i manage to convince all the governments of the oral political, 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 in 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 it one through attrition by basically being better, simpler, easier to deploy them all of the other 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 bernice lee introduced the world wide web as a 20 page proposal. soon though, of 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 roller 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 was 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 your 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. if, as if it were simply outside of human and social experience. what we see our 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 a house out myself by an executive at a large information company. it's probably 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 coopted 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 soap box 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. well, almost any, one of $65.00 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 world's most sophisticated artificial intelligence system. keep china's web content clean and uses in check. so sorry 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 enable 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. 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 in 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 than facebook? with a block chain, we don't need to rely on middle men anymore. it's a trust list system. meanwhile, if helium is building the future off, 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 bankers 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 who are

paying auditors who are paying even please even regulators government to, to build trust, ensure everything will be enforced. so talk to quite expensive 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 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 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 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. a genius who vanished where she being gone from day 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 leon banked and maybe a tool for this a trade or is it digital gold? a totally new asset class, a bet against the bank. us 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 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 d, thrown the tech giants reclaim free speech, protect online identities and facilitate free trade in a borderless, digital economy. and yes, maybe even save the planet. that's a never ending list of crypt. hoping 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 use us maybe 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'll make the days a little brighter, that shows a little lighter and their lives a little richer. ah

halla, we've had something of a heat wave here in the middle east. recently seen c laws to clear skies across southern parts of the arabian peninsula to the south of that. that's where the heat really has been on friday, off known in doha temp. just touch 40 degrees celsius. unconfirmed reports of temperatures in the u, i. e. e. e getting as high as 42 degrees over the next day or so that temperature will ease, but it should be about 27 celsius this time of the year. so we are still on the warm side of that hate further north. that's why it's been a lot cooler, a little unsettled as well. some cloud and rain on sunday coming in across to rock q 8, northern parts of iran, bits and pieces of shabby rain. i, which was a levant here, was still struggling to get into wet double figures and some snow there once again into turkey. similar pitch as we go on into monday now that wet or whether we have a cross at east the side of the met. it's right. and we'll so laugh on to the shoals of northern egypt pushing across sun, northern parts of africa. by the way,

across into the far north of morocco, thick dust haze continuing just around us, a hell pushing it to know the pos of nigeria. heavy, shallow, sad, just rolling in across the gulf of guinea. may wallace showers will continue right across the heart of africa. and we have the risk of flooding from our old tropical sites. i forget part of my sent peak ah, talk to al jazeera me ask, do you believe that the threats of an invasion of ukraine is currently the biggest threat international peace and security? we listen, we are focusing so much on the military crisis that we forget. long term development . we meet with global news makers and talk about the stories that matter on al jazeera news use. united birds are risk of extinction, linen b, she's a plan to read the nation if some pretty new sites. when i went to the best, a guy on al jazeera

ah, revealing eco friendly solutions to come back threats to our planet on al jazeera. ah. ready russia forces target another ukranian military base, expanding its offensive to the far west. ah, walking out there alive from a headquarters in ohio, eddie nowadays are also ahead. crowds of people, fleet towns near cave as russian troops edge closer to the ukrainian capital. but with warnings of a humanitarian catastrophe and maria pole dais.