forests, there is a humanitarian crisis erupting on multiple fronts. rad rocket landed just a few meters from our convoy. coming up with this has been all over the need for region, and he tries st. totally destroyed along the road we came in on. there was still clearly an active battlefield day with out there for the latest development ah, a camera, madison and know how the top stories on al jazeera, 3 european leaders are on their way to the ukrainian capital. despite ongoing shelling on the outskirts of the city, the prime ministers of poland, 70, and the check for public is set for talks with president zelinski in the coming hours. that the 1st foreign leaders to visit since russia began his assault 20 days ago. he was mare says at least 4 people were killed and strikes over night,

and not con has more on the intended visit of those e u leaders to keep the visits under routes. you don't know the exact details of it, but we do know it's a show of support for president vladimir zalinski and the people of ukraine. it's likely that they're going to be talking about getting humanitarian aid in to keep and beyond the other places, at least at places like mary opposing the destruction that i'm so the aide obviously very desperate lead needed. but this is the 1st high level visit since the war began a 20 days ago. it's coming as the official visit from the european council once again, the european showing their support. now poland, the prime minister and the deputy prime minister from poland is actually going to be on this visit. ponens absolutely crucial. it's the one rail link in to live and then on to keep. and that's where most the people i've been fleeing or getting out that route and but where most of them are, hey, an aide has been coming in as well. so this,

this visit is likely to be about 2 things. firstly, a very visible public high level show of support for the ukrainian people and for the ukrainian leadership and to discuss getting more aid invite up buddha in poland . the medicaid says this is a difficult and dangerous moment as russians drugs continue to hit, the city is called an ukrainians to help defend the capital not to go buried. as of today, the 15th of march, 20100 hours martial law, it's not allowed to move around the city without special permission until 7 am on the 17th of march. you have heard about the book, the i'm asking a robot, your old men who have not returned yet. please come back. we need to defend our city in our future. ukraine and russia have agreed to open 9 humanitarian color dollars. that includes the besieged city of money of poll. 4000 civilians managed to leave in the 1st successful evacuation on monday. the grandchildren are becoming

refugees at a rate of one per 2nd. according to the un, that's almost one and a half 1000000 children in total. since the war began nearly 3 weeks ago, the us refugee agency says more than 3000000 people are left ukraine to escape to fighting more than half have gone to poland on a significant number of moved further into western europe. european union as an answer further sanctions against russia being food expanded restrictions and the defense energy and industry sectors. there's also a ban on all transactions with certain state owned companies. that's the strongest package of sanctions ever adopted by. do you and union need history? that's or history court decision will have more than 600 russian people being targeted by those sanctions. you will have a large part of the financial system being targeted by those sanctions. you will have a new ban on some exploitation like to look to the goods and we will,

we do all to the russian state. the most favored nation, close within the world trade organization. and the us as a russian women who protested against the war by interrupting a news program shouldn't be punished. the woman is to behind the presenter holding a banner, calling on viewers. not to believe the propaganda and stop the war in ukraine. the china one broadcast cut quickly away. she worked as an editor at the station and she said she was ashamed of promoting kremlin propaganda. ideal to revive airlines, nuclear agreement is close to being reached according to the kremlin rushes 40 minutes. a 2nd level is hosting the forum, a sort of a run in moscow. of them says russia received written assurances from washington. the sanctions won't interfere with the framework of the deal, folks to revive the 2015 agreement of being threatened by last minute russian demands. those are the headlines more on the website. i'll just eat

a dot com. the news is going to continue after crypto goodbye. 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. magical 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 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 seat was already using

it, making it really easy and see all the paper and a piece of us all of our a 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 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 to death just what he 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 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 you 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 or you went deep down that rabbit holding on to the point of physical exhaustion off of 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. you mentioned a bank vault where you have

a safety deposit box where key opens what are 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 middleman with a 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 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 dark weapon, where buyers and sellers use bit 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 of 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 that technology provides anonymity, it actually enabled uncovering 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 100 millions fraction is recorded in the block chain for eternity. this synchronized global letter is shared among thousands of computers worldwide. that's why it can't be compromised or altered. think about that. we can make an infinite number of perfect digital copies of 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 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 hard to deny my parents are she branches there? and i remember growing up in my childhood, i saw my parents lose everything 3 times. first because of a huge evaluation 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 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 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 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 big boy. if you don't want for all the keys, it's not your bit court. your keys dropping quite knocker. keith launcher, big boy, your keys, you're a big boy, not sure 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 heck's 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 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 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 the 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. 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 backup 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 crystal protects here. not just for sample. we can not talk too much about it because it's her privacy quite to what is down, where are we 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 via metric and during 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, sitting somewhere down here unplugged from the internet, buried absolutely no way here are way to attack the day. it's always on the cold storage side, but here's my question. why do i need the cold offline service to be inside them out and kinda be in my basement while the surveys and it still can be sold, right? so easy, some like money data. yeah, it's been invite, but it is money, a lot of money. and this is why this is more a bank than than a day. but let's do a quick recap. we now have billions of dollars worth of data secured and digital

banks deep inside secret military bankers. if you don't think bitcoin is already changing the world's concept of money, you haven't been paying attention. remember, mervin, he used to be a senior executive, deutsche bank. his colleagues, one said bitcoin was for lawbreaker and troublemaker, he now runs a crooked to fund out of walter. our research shows that the crypto markets are 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 whole above 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 by the advice and cost your weekend or i want a grandkids call one seat. ah. but what 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 trade as peer to peer, like 20 cash. 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 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 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 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 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 it is going to be casting is from issue shalicia. and i'm been told the omnia 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 for the the islands of bali have long attracted tura visitors come here for the cool climate and to see bonnie's famous rice fields. but

these fields and farms are more than just a tourist attraction. they provided a lifeline for the thousands who lost their jobs when the travellers stopped coming because of cove at 19 pandemic restrictions, broad financial hardship to many here at valley. now as the island reopens for international travelers, some say they want more than just to return it to the way things work before. community groups have helped form a tourism workers learn how to find god. it used to be a tool guide. now, key fobs, cabbages, a. i don't want to go back to tourism. i want to continue to be a farmer. as the island prepares to welcome visitors again, many say the pandemic has taught them valuable lessons. never forget, o maud has a rich history but also plays an important role in the gulf region today. out there

well discovers its empire stretched from the european peninsula to east africa field from great sea power. the problem that existed gulf was piracy. tribes was rebellion, empire, and colonization, oman, history, power and influence on al jazeera. ah, emerald madison, and dough hard, the top stories and al jazeera 3 european leaders are on their way to the ukrainian capital. despite ongoing shelling on the outskirts of the city, the prime ministers of poland, slovenia, and the czech republic go set for talks with president zelinski in the coming hours that the 1st foreign leaders to visit since russia began its assault 20 days ago. he was mayor says at least 4 people were killed in thrice over night. vitale,

electrical says this is a difficult and dangerous moment as rush and strikes continue to hit, the city is called an ukrainians to help defend the capital. martha goldberg grew up with you as of today, the 15th of march, 20100 hours martial law. it's not allowed to move around the city without special permission until 7 am on the 17th of march. yes, one of those book the i'm asking a rewards. your older men who have not turned yet. please come back. you need to defend our city in our future. ukraine and russia have agreed to open 9 humanitarian collar doors that includes the besieged city of money. paul, 4000 civilians most to leave in the 1st successful evacuation on monday. ukrainian children are becoming refugees at a rate of one per 2nd according to the united nations. that's almost one half 1000000 children in total c. the war began nearly 3 weeks ago. the u n's refugee agency says more than 3000000 people of left ukraine to escape the fighting more

than half of gone to poland while a significant number of move further into western europe. the u. n. 's has a russian woman who protested against the war by interrupting a news program shouldn't be punished. the woman stood behind a presenter holding a banner, calling on viewers. not to believe the propaganda and stop the war in ukraine. a channel one broadcast, cut away quickly. she worked as an editor at the station and she said she was ashamed for promoting kremlin propaganda ideal to revive iran's nuclear agreement as close to being reached according to the kremlin. for most a 2nd level, hosting the fall semester of iran and moscow live wrong, says rushes received written assurances from washington. but sanctions won't interfere with the framework of the deal talks to revive the 2015 agreement has been threatened by last minute russian tomorrow. and those are the headlines, don't forget, the website are to 0 dot com. the news is going to continue here and i'll just hear

after crit, tapia, goodbye lloyd . i know, i know you want to find out what any of this has to do with this new crypto p, revolutionary internet. we'll get that promise. but 1st, we need to go from bit coins, original block chain to hundreds of block chains, back in 2011. when charlie lee was a google engineer, he wanted to foster and lighter version of photoshop's crypto currency. and was one of the 1st to experiment with the open source software. the actual quoting terms of the code differences between the clan, my quote was actually pretty trivial. and what does that mean in time? like i would say like, $44.00 or 5 hours. light claim 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 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. and let's say i bet charlie that

a light coin will be worth $200.00 on january 1st of next year. we each put an ether into a box along with a small contract, a simple program that automatically checks the price of light coins on that future date. if i'm right, the money goes to me. if i'm wrong, it said to charlie as mart contractors, neither smart nor contract. it's a dumb program. and it, once you understand the all, it is a program that clarifies a lot of stuff and the word contract there is in the meaning of finance. most financial arrangements are pretty simple and clear. cut a bad with charlie. your home loan and insurance policy. just 2 parties and some form of exchange of value based on a set of rules called a contract. the same is true for global financial markets. think bonds futures derivatives, credit default swaps. they're all just contracts, and the world economy runs on them using middle men who all charge high fees.

proponent, say that if we used smart contracts, we could tell the bankers lawyers escrow agents and wall street finance guys to take a hike. so we're, we're doing is we're saying we have this a theorem network inside. if you're in network, there's this asset called ether. and we're actually going to be selling user, we're going to be selling either at a rate of 1000 to 2000 either for one bit calling. and that's how we're going to raise money. it worked, botanic figured out a way to fund this year and project, and it made his investors very rich. this new model for fundraising soon had a name, an initial coin offering, or i c o. i b as an i c o sound similar, but they have, they're not things similar. the only thing similar about them is they help you raise money. i've, i p o, if you don't do until you have a company and you have revenue and you have users and to 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 the white paper. and so people are just buying into trust into faith that this is something that will exist. the goal here is like, ultimately i like to say 8 year olds building their own financial systems. yeah, but what if some of these a deals are also scam us? so let's say i'm trying to do it. i feel, and i curtis my contract where i create a 1000000 coins. and one of the transactions is that if you send me $100.00, i will send you that many worth of points. it was a man gold rush. 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 collective 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, race millionth, annisa, and then vanished, leaving investors with this website. look close. that's nice. i would say about 2 to 5 percent of the 1000 devices that are happening are actually legit and the rest is pretty gammy or it's not going to work. can you define for me what a coin is? i think it's just a derogatory term. people use on coins that they don't like for the climax was able 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 real

problems. but to bit point maxim list of a block chains i, c, l i e o s t o smart contracts on the theorem. that's all just a waste of time. very small, got staff, st. revolutionize your health care industry and the automobile 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 hijacking a 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 blocking for, right? and so people have almost like different ecosystems. and then when you see it's almost like an illusion. airy process right where the block chains fork and they have the same as histories but a dock to different environments. and we see this like ever increasing level of

diversity, a number of block chains here 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 happen starting crypto currency and they think that the kinds underlying database is where the magic is, the more on the bathrooms, 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 me taking off his bus besides by the court, and ask 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, if we can store traits, certificates, and shipping documents on the block chain, you can check to see where those organic carlos really came from for grow them for pack 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. they both exist. meanwhile, facebook announce a crypto currency for the 2000000000 users. such a system might be more efficient than a public doc chain, but there's a downside. some governments banded within weeks. right now the way it is a paper that's being shifted around that doesn't make any sense that infrastructure needs to be or why 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, deets, mortgages,

all can be turned into crypto tokens and made tradable 247 what's much more exciting than tokenize security, the traditional businesses where it's just equity that you fax 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 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 powell ledger and we use the blood chain to enable electricity trading energy asset financing and carbon market. this award winning australian company wants to take us to a common free economy, foster. gemma has identified a problem often nearing the tentative and it means that if there is solar panels,

the apartment isn't really incentivized. so i'll go back to the 10 and if it but using up all the tenant will pay dearly to the body corporate using power ledger, the tenant, 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 the 1st by 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 conda invest in a solar farm? without this new fancy tech? the block chain acts as a kind of an income register. any tokenize in the asset? it becomes tradable on an exchange, or 2 or 3 solar panels of a 1000 in

a sofa. and you would say the income associated with that amount of now bankers don't very much like being cut out of the cash flow loop. so they took another look at mr. commodus, curious little white paper and they've recently been spending a $1000000000.00 a year in block chain research. ah, crypto currency, digital tokens, public block chains, private block chains. where is the kill 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 the innovations, and we know that that art from invention to innovation, takes a long time and 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 in the she had a bunch of questions, but her 1st one was how did i manage to convince all the governments of the world politically internet, you know, i'd say, 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 gonna 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, t c, p i p didn't just wind by default on 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 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 cache. still few understood the potential of this new tech from people that thought it was as be the world's greatest library to some of the early cypher pugs, 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 peter files and pornography hers. and it's too dangerous to use their credit card on it. it's full of scans. we're

seeing the exact same story. now. we have vision technology as if it were autonomous, if, 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 telecom 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 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 and you can 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 anyone on the planet. oh, wow. really? 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 cyber cops and the world's most sophisticated artificial intelligence system. keep china's web content clean and use us in check. so sorry to break it to you,

but that's 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 tow, 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 try to report a sexual assault and was silenced by her college. but she knew that she could attach a message into the meta data and a theory him 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. wet 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 runs 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 giants like the facebook and google's in 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 appear 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 it 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 las system. meanwhile, if helium is building the future of decentralized finance with thousands of applications, but the network is also struggling to keep up with the demand. oh, and new competitors on the rise. so guys like you will build a better future, we can trust you guys better than the bank because you don't have to trust us. that's the beauty. we're building a trust list, the centralized system that gives power to people travel. it sounds like there's no trust, but actually it means we don't need to trust you. i think the better word should be trust to free. about one 3rd or maybe half of the cost of the transactions are paid to establish trust between trading parties. like we're paying for lawyers,

we're paying auditors who are paying even please even regulators government to, to build trust, ensure everything will be enforced. so content quite expensive. blocks have the 1st time that we saw some technology that can eliminate the cost or reduce the cost of trust, dramatically magical things that will happen. trust may be expensive, but it's also short supply all around the globe. people have been losing faith in the media institutions and governments, this technology with a big brains and big egos behind it could fix one of society's biggest 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. the 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 kits are now fighting over the meaning of his invention and the inheritance projecting their fears and their fantasies on to 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 out, 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 borderless, 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 are 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 users 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. there is no channel that covers world views like we do. the scale of this camp is like

nothing you've ever what we want to know is how do these things affect people? we revisit me day even when they're no international headline houses. there are really invest in that, and that's a privilege, as a journalist, ah, look forward to brighter skies the with sponsored by counsel at ways. it's interesting to see that all of our agents in all of europe. why free of big thunderstorms that are the rate in every now and again, certainly down the south, us be expected, but around there is a place where so often you get the spectacular space of them. so they're not there . the last of the did that is this one here, so it's now concentrating in the southeast of brazil. sorry, parallel has got 3 wet days. i'm going to be sundry or persistently wed tuesday, wednesday, and thursday might just itching to rhea, but i don't think so that the seasonal ray, which is quite

a broad sway anyway from peru up to ecuador and east was the north eastern parts of brazil and ups resorting the potential here for rain being persistent and heavy. so there be some flooding, maybe some land sliding as well. and in the caribbean, the, the breeze is steady. now, light showers here, but it's an obvious thing to focus on here. this is significant rain forming for florida and a line down towards the yucatan peninsula, maybe not on tuesday, and certainly wednesday heavy shelves in the bahamas and may be western cuba as well. the weather certainly churning itself up with some humid thunderstorms in the southern states, but no snow on the northern flank in toronto tend to be up and down the next 3 days by 10 degrees as i oh, the weather is sponsored by cataract weighs a c nami of mud, very 16 indian villages submerging the homes and livelihood. it's 60000 people. years later,

local inhabitants is still fighting for justice from the freaking company. they blame and the hot sludge continues to flood grating. a witness documentary on al jazeera ah, tens of thousands of children were born into old lives under the ice regime in iraq and syria. now, many are in camps either orphans all with it. we don't mothers, rejected by their own communities. she could do like some people are going to welcome them after that. of course, mom and you documentary his, that chilling and traumatic stories for the children throw stones at me. iraq's last generation on al jazeera, cold with bon nato long plans military out think act the 5, the largest since the cold war has taken on you, significant as the war rages in ukraine day with out there for the latest

development as 35000 feet from $28.00 nato countries demonstrate their abilities in a region already. okay. ah, this is al jazeera ah, hello, i'm robot. this of this is the news, or live from doha coming up in the next 60 minutes escaping the bomb. bob, much more evacuations are on away from the seas. ukrainian city of mario paul curfew was declared in keen as residential blocks or hit again, 3 union leaders had to the capital in a show of support for ukraine's leaders.