me or china in the us sleep walking their way to war in the struggle over ukraine. here's the test for president joe biden, when prison is really trying to do is rewrite the security architecture. if your person united states, you seriously get a walk to gun at the same time, your weekly take on us politics and society. that's the bottom line. ah, i'm hasn't seeka in doha. the top stories on jesse are the leaders of 3 european countries have traveled to kiev in a show of solidarity with ukrainians. that says, russian shelling continues to hit the cap to the prime ministers of poland, slovenia, and the czech republic of the 1st foreign leaders to visit ukraine since rushes invasion began. they took a long and potentially risky, trained journey from poland to meet president. one of them is the landscape. you

can lead us says the visit cents a strong message to russia to be sure we should do. they are not concerned about themselves. they are concerned about us, they are here to support us. and this is a necessary friendly step. and i'm sure, with these types of friends with our neighbors are partners. we will be able to, when the mayor of key of has warned that ukraine's capital is facing what he calls a difficult and dangerous moment. 35, our curfew has been imposed after russian strikes on residential buildings in a metro station which killed 5 people. ukraine says 29000 people evacuated through humanitarian corridors on tuesday, most of them left from the city of mattie. you, paul, i said, beg is in upper asia where civilians are coming. after leaving matthew polt. when they get here, they are, those they are toys. they've given food,

and here you can see donation from people from ordering ukrainians, making a massive effort to try and welcome these people that have escaped from medical. but it's not just medical that they have escaped from the surrounding areas that is fighting, taking place. and the people that we've spoken to many are shocked and traumatized . many have lived in the hands of villages all their lives and have no nothing else . and now they've been forced to leave, but we also have people that have been displaced a number of times because it's fighting in the east of the country has been going on since 2014. so many people left there to of a safer part of ukraine. and now again, they've been forced to leave. but the ukranian authority is saying that 2000 cause again have left mary approach. but that's not enough. the city as around 400000 people that has been established by the russian and the ukrainians desperately want to get into that city. and the situation that we've been hearing from inside my report is that there's a lack of food, water, lack of heating,

people taking shelter in basement. but they're trying to get a and to doesn't cause as far as ukrainians are concerned, isn't enough. the un refugee agency says more than 3000000 people have now escaped the fighting. one ukrainian child is becoming a refugee every 2nd. that's almost one and a half 1000000 since the war began. jo lowery, as a spokesman for the international organization for migration. he says, families with young children face serious risks when they cross the borders. well, get experts that the know what they're doing and they, they build programs that to take care of this lat long term. and we do build us into all programming to be like a logical support, particularly for children. it's huge for us and, and also for, for that, for the mothers. let's say a taking on the role of caring for an entire family over night. what's also essential is to think about the protection of people leaving ukraine and the people

in, in the ukraine as well when, when they're, when they come to us, the people leaving out ukraine are very susceptible to perhaps are predators to human traffickers and even to children. to to abduction and we would try to make the assures account that you get a safe passage for people. for example, in where i am now in moldova, along with you and a jar and the government concerned in both mania, moldova started regular transfer of migrants, sending buses from romania righteous southwestern border with ukraine. i'm bringing people 100 people today. the most reasonable offices, whether we can be sure that there's a from the get into romania with it, their ongoing and that's the other area, needs to be taken care of, rushes foreign ministry has an out retaliatory personal sanctions. on 13 us officials, including president joe biden list also includes the secretary of state and the director of the c. i a those are the headlines were back with more after crypto p.

m. i i stayed at 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 for champions 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 in the amazon. my name is tossed and huffman, and i'm going to put some of these claims to the test. forget all the hype will

explore the true potential of this new invention. 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 internet. web 3 point. oh, they wanted a science fiction dreams. what they actually did was, builds forthcoming disaster while people were not willing to learn after not willing to admit they were wrong. wrong. the telling me that i have no clues is that just what you don't support free speech. you don't support bitcoin, you're an enemy of it. this is bigger than the internet, the iron edge,

the renaissance, the industrial revolution. this affects the entire world. okay, let's start slowly with the basics of money and it's creation. the total value of all the world's money is about $120.00 trillion dollars, which you probably didn't know is that each new dollar is created by governments and banks as debt, which needs to be paid back by someone in the future with interest. that's why there isn't enough money in the world to repay all that, that, and there never will be. oh, and almost all of the world's money is already digital. just entries in a ledger, usually managed by a bank. only a small portion exists as physical currency, like cash or coins. think of it this way. your employer deposits a $1000.00 into your bank account. then you pay $200.00 in taxes, $500.00 for rent,

$200.00 for bills and shopping and so forth. whether use credit cards, debit cards, pay pal or bank transfers. they're all just pluses and minuses and different digital letters. that's why there's almost no need for physical money in our daily lives. during the financial crisis in 2008, i'm a student's figure, colts attaching a komodo published this 9 page white paper. it said with bit coins, open source software. we can create 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 her to the point a physical exhaustion off as 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 bitcoin, their digital piece. think of them is 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 ledgers, 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 what 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 to trade in that's david's polite way of saying illegal stuff. in 2011, most of my partner colleagues were saying 3 or so. but other drugs pornography on the silk road was a black market on the 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 shut 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 are, were pilfering than bitcoin, that the government had obtained from the silk road case for their own gain. and what was interesting was she got a tip that there might be one. 0, one agent that was doing this. but from looking at the movements on the blocking itself, she realized that there were 2 people. the prosecutor could see those big coins

being moved. and when the dirty coughs 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 100000000 fraction is recorded in the block chain for eternity. this synchronized global letter is shared among thousands of computers worldwide. that's why it can't be compromised or altered. think about that. we can make an infinite number of perfect digital copies of a movie, a song, any file, but for the 1st time in history, this distributed record keeping allows us to have a truly unique and fungible digital object that is also scarce. if you could count

all of these virtual coins, you find about 18000000 of them today. when the cap of 21000000 is reached, the protocol stops the network from creating any more. it's the opposite of our traditional money supply, which keeps growing and growing. an unlimited amount of dollars versus a very lim supply of bit coins. you do the math. if you use euro's dollars, you might not care about a little inflation per year. but if your country isn't stable, you might be a trillion and paper and be debt brooks. i grew up in but i wanna in this i'm part of hard to deny my parents are she branches there? and i remember growing up in my childhood, so my parents lose everything 3 times 1st because of a huge evaluation then 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 the 1000000000 and the half people who have a very privileged financial life. what about the other 6000000000? every single country that is free has essentially a legal status for crypto currency that is very open and permits it. 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 and other transactions. and it, is it the announced purpose of the supporters of crypto currency to take that power away from us for, for currency represents a litmus test for 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's is very little about crypto cards. you see the reason why some governments and 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 win. boy, if you don't control the ease, it's not your bid court. your keys dropping point knocker. keith matcher. big boy. your keys, your 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 online, will not be on line. it's inside the vault, the voltage inside a bunker, usually deep underground. our main one is in switzerland near the commission military bunker. i just hate to see it for myself, even though it took months for us to get cleared for a tour. we

were met by christopher smart, a former military commander who runs the place. and their representative from sample kristof said the gods would rather shoot us than show us around. i hope he was kidding. they need to bring in the material 3 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, a fit going in the world because a lot of the largest holders in the world use us or security rumor has at the 10 percent of all bit coins are stored here and in there for other secret locations. but unfortunately, i can't confirm any of those numbers from the mountain. we are getting

a lot of benefits by earthquake proof flooding proof. but on the other side, you're facing a lot of additional cost. 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 example. we cannot talk too much about it because it's a pre secret to what is our hobby allowed to film. they're mel the doors that remain shut and security measures we weren't allowed to see. and some of those checks may be biometric, including the eye and finger prints con and the fingerprint scanner. also make sure

that you are alive, that you the cut someone's finger and you're just using it to open a gate. so you might have a direct these on samples actual service. but if you've ever wondered what crypto currency thieves dream about it sitting somewhere down here unplugged from the internet, a very absolutely no way here a 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 kind of be in my basement while the surveys in your base, it still can be sold, right? so this is like money data. yeah. think it's been invite, but it is money. a lot of money, and this is why this is more a bank than, than a day. but let's do

a quick recap. we now have billions of dollars worth of data secured and digital banks deep inside secret military bankers. if you don't think bitcoin is already changing the world's concept of money, you haven't been paying attention. remember, mervin, he used to be a senior executive, deutsche bank. his colleagues, one said bitcoin was for lawbreaker and troublemakers. he now runs a crooked, to fund out malta. our research shows that the crypto markets are going to probably be worth about $8.00 trillion in 2027, which is a 50 x. um today. exactly. most financial analysts say you better stick to your chance and bonds and dollars bitcoin is dangerous nonsense. far too risky as investing to others. bitcoin is an escape hatch that will take them away from risk and insurance against the financial doomsday away out of the debt crisis, negative interest rates, trade was an economic downturn. they say it's an anti fragile asset uncorrelated to

financial markets. so how about the general public in america? the younger generation already starts to trust this new asset class. and when success, bitcoin may reach a $1000000.00 per coin. i would say the biggest financial mistake you can make right now is to own an amount of bit going that you cannot afford to lose because it's super risky. you may lose. the 2nd biggest financial 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. one is, is by bit going, consider it, spend it disappear, check in 7 years. i either give you

a bottle of ice 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 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, like 20 cash. that was the killer 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 use in its tracks. with bitcoin, you can send $1.00 or $1000000.00 worth of value anywhere in the world. you can do

it for free, and one philosophy could be described as the coin additional goals. and the other philosophy can be described as bitcoin, as digital cash bitcoin wanted talking with. we've already met the digital gold camp who opposes any changes to the protocol despite the high fees, roger represents the other side of the debate. they wanted a system upgrade. the solution is easy and just increase the size of the blocks from one to 248 megabytes. so that more transactions fit into them. this will lower the fees, and people will start using bitcoin as cash again. but most of the community disagreed. so bitcoin, jesus had become bitcoin, judas, and there was a split into 2 separate bit coins. every revolution is followed by the counter revolution, which is usually a purge of the original revolutionaries. when i 1st started covering the space, every one was united in 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 she'll have to say that and causing people to, to buy. they can cash when they actually want. if i pick coin they, i was just going to be cashed in is for ms. jew shalicia. i'm for, i'm been told you i'm your crew. d for the english, rosie doc was a call from bitcoin b cash called tom depression. he had some of his sailors energy. nuclear doesn't your face a bit coins could call them coming up the block chain explained and predicting the future of the internet car. with joining the debate, there is no job better go, you know,

if anyone here talks about women that i was with seem to have been says notes because of the table we were taught to see abortion as a one way ticket street to help all of the companies, they deny any responsibility, even though they have the resources and the power to fix it. we're a global audience, becomes a global community. the comment section is right here. be part of today's program. this stream on al jazeera, i was in a hands on john list, working in asia and africa, that'd be days where i'd be choosing and editing my iron stories in a refugee camp with no electricity. and right now we're confronting some of the greatest challenges that humanity has ever faced. and i really believe that the only way we can do that is with compassion and generosity and compromise. because that's the only way we can try to solve any of these problem is together. that's why they are so important. we make those connections. o mon has a rich history,

but also plays an important role in the gulf region today. out there well discovered its empires stretched from the arabian peninsula to east africa bill from great sea power. the problem that existed in the gulf was piracy tribes, moods, rebellion, empire, and colonization. oman, history, power and influence on al jazeera. ah, how long has him seek out? the headlines on al jazeera, the prime ministers of poland slovenia, and the czech republic are in key of to show solidarity with ukrainians. as russian shelling continues to hit the capital, they are the 1st foreign leaders to visit ukraine. since russia's invasion began, ukrainian president vladimir lansky says their visit sends a strong message to russia to be sure with the national blue. they are not

concerned about themselves, they are concerned about us. they are here to support us. and this is a necessary friendly step. and i'm sure with these types of friends with our neighbors are partners. we will be able to win polish prime minister mateusz might have these keys said what's happening in ukraine is a european issue that needs a collective response. the european union has to give very quickly a candidate status and more than this has to invite your grain to the european union and all that the fast equipment to defend your homes. we will drive to organize orchards or to say all over the world, we will never leave you alone. we will be with you because we know that you are fighting not only for your holes, for your freedom, for your security, but also for hours. the mayor of kias has warned that ukraine's capital is facing

what he calls a difficult and dangerous moment. a 35 hour class he's been imposed on the russian strikes on residential buildings and a metro station which killed 5 people. ukraine says around 29000 people were evacuated through humanitarian corridors on tuesday, most of them left when the city matthew polt, the u. s. refugee agency says more than 3000000 people have escaped the fighting one ukrainian child is becoming a refugee every 2nd. that's almost one and a half 1000000 since the war began. a court in moscow find a journalist, $280.00 for dramatic televised protests on sunday evening. marina of sienna cova broke into a live bulletin on state television holding up a sign, reading stop, the war. senior editor channel one. earlier, she released the statement saying she was ashamed for promoting what she called kremlin propaganda. those are the headlines now back to crit, tokyo,

ah, ah, ah,

ah, ah, i know, i know you want to find out what any of this has to do with this new crypto p, a 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, she wanted to foster and lighter version of sato. she's crypto currency. and was one of the 1st to experiment with the open source software. the actual coding names of the, like the co differences between bic, landline coin was actually pretty trivial. and at what, what does that mean in time? like say like $44.00 or 5 hours. light clean 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 elise, 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 big quinn magazine, founder of a theory and just general quinn and cryptic currency advocate. just 19 years old vitale was on a mission to make money programmable. he build a separate block chain called if the room is 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, 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 bet with charlie. your home loan and insurance policy. just 2 parties and some form of exchange of value based on a set of rules called a contract. the same is true for global financial markets. think bonds futures derivatives, credit default swaps. they're all just contracts, and the world economy runs on them using middle men who all charge high fees.

proponents say that if we used smart contracts, we could tell the bankers lawyers escrow agents and wall street finance guys to take a hike. no. so what we're doing is we're saying we have this a theorem network inside the network. there's this asset called ether, and we're actually going to be selling user. we're going to be selling either at a rate of $1000.00 to 2000 either for one bit going. and that's how we're going to raise money. it worked vitale figured out a way to fund these here in 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 p as an i c o sound similar, but they have nothing similar. the only thing similar about them is they help you raise money. i fios, you don't do until you have a company until you have revenue and you have users and you actually prove to the public investors. and this is a valuable company that's worth investing and it's worth buying their stock. i seos,

it's pre product. you have maybe a couple 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. their 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 coin. 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 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 eco maximus, people 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 harsh and i c o. 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 to bit point maximum list of a block chains i c o i e o s t o smart contracts on the theorem. that's all just a waste of time. there is no going to stand, rock st. drown in health care industry and the all of them all the 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 can use, blocking for, right? and so people have almost like different ecosystems. and then when you see it's almost like in a pollution or a process right where the block chains fork and they have the same as histories, but they adopt

a different environments. and we see just like ever increasing level of diversity, a number of blog 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 bit cons underlying database is where the magic is, the more on the bathrooms, 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 announced the crypto currency for the 2000000000 users. 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, deets, mortgages,

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

panels, the apartment isn't really incentivized to cause the benefit. but using the tenant will pay the electricity bill to the body corporate using power ledger the $10.00 and paste the owner. not the power company for the electricity. if the tenant isn't at home, the unused energy will be sold to a neighbor, lowering the power bill. and making a profit for the owner, it actually creates the mechanism to justify investing the capital in. this clever system could also speed up investment in sustainable energy projects by making it real easy to own a piece of a solar or a wind farm. why do i need a block chain for this condo invest in a solar farm? without this new fancy tech? the block chain acts as a kind of asset, right? an income register. any tokenize in the asset? it becomes tractable on an exchange or in 2 or 3 solar panels of a 1000, you know,

in a sofa and you would repay the income associated with that amount of, you know, bankers don't very much like being cut out of the cash flow loop. so they took another look at mister commodus, curious little white paper, and they've recently been spending a $1000000000.00 a year in block chain research. isn't it? on a photoshoot anti bank invention? it's all being used by the banks to move money faster and buy big business to track supply chain. ah, crypto currencies digital tokens, public block chains, private block chains. where is the killer app? well, adoption of new technology often follows oh trends. my name is mark francesca, i'm here at oxford dinners, 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 technologies start out as interesting ideas. some of them begin to develop the innovations and we know that that are from invention to innovation, takes all the time. it takes a lot of work. some of those innovations eventually become commercially viable. but can this technology ever become as pervasive as the internet? i came to the computer history museum in the heart of silicon valley to find out. so you're looking up the console for sage, which was probably the 1st computer network. there were $23.00 centers around north america to warn against soviet farmers, 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, can this all the governments of the oral political, the internet? you know, i said, well, except for the handful of us that we're actually working on the internet. nobody else really thought it was a very good idea. answer in thing was gonna lead anywhere. and, you know, we pretty much had a free running room. yes. that's the man who co, vender, tcp i, p, about 50 years ago. that's the original academic paper. you can think of t c p as the backbone of the internet. but back then there were many competing technologies. there was a very big battle over the protocols. tcp ip didn't just wind by default on it, one through attrition, by basically being better simpler, easier to deploy them all of the other scalable and more scalable. and it had a lot of competition from phone companies, and then there's email email ira, that's a really neat. e mail was perhaps the internet 1st collab. then in the early ninety's,

tim berners lee introduced the world wide web as a 20 page proposal. soon, there were browsers that made it more accessible and user friendly for the general public. i think that the internet is going to be one of the major forces for reducing the role of government. and the one thing that's missing, but that will soon be developed is a reliable e cash. still few understood the potential of this new tech from people that thought it would as be the world's greatest library to some of the early cypher punks. who are the direct fathers of crypto and certainly bach chain type ideas who thought much as today, but it would create kind of a commons that was outside of the direct control of normal laws and governments and the media. they didn't quite know what to make of this new thing either. but sure enough, they found juicy stories about the dark side of it,

which was the internet is full of criminals and 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 envision 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 ass out myself by an executive at a large information company. it's probably in 1990, if they could buy the internet. and i remember asking them, well, why don't you buy the world economy and you can have everything. once you buy the weather and you can control that, it took a few decades in hype cycles,

but the wild internet was eventually domesticated, co opted by trillion dollar companies and then fundamentally transformed how we shop work and communicate speaker's corner in london's hyde park for 150 years, this has been a safe place to stand on a soapbox to sell you ideas, preach the gospel, bad mouth, the king all promote communism. to dave the world wide web, we can stand on giant digital so boxes using facebook, twitter, youtube. we can share our ideas, or thought a fight with any one on the planet. oh, wow. 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 in it. to be fair, some of the censorship is to prevent terrorist recruitment or to stop violent moths from hurting people. but i think government control over the internet has gone just a little too far hold on. so she turned money into code code is just letters and numbers, which is speech, right? so money now is speech, which is a pretty powerful idea if you think about it. but if bitcoin is this uncontrollable on sensible technology, can the block chain also enabled global free speech? in some places it already does. one chinese student tried to report a sexual assault and was silenced by her college. but she knew that she could attach a message into the metadata and ethereal transaction. so she spent $0.15,

and now her letter outlining her story. and the threat she received is on the public assyrian block chain, where it will remain unchangeable, forever. the early crypto pioneers wanted to democratize money. finance. 2 point. oh if you will. but now the believe us in the block chains have their eyes on a bigger price. they want to decentralize everything. web 3 point. oh, you can, for instance, offer file storage in the way that an amazon does, or that you could offer a search, you know, the way google does, but do it in a peer to peer fashion. without this behemoths at the center, extracting rents and do it in a way where all the people that are users or they can benefit. and they really could some day compete with, if not even take down some of the big tech giants like the facebook and google's and the amazon that we know that's a tall, tall order. it is, it is. but i mean, who would have thought at the beginning of the internet that would 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 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 demand. oh, and new competitors on the rise. so there's like, you will build a better future and we can trust you guys better than the bank because you don't have to trust us. that's the beauty. we're building a trust list, the centralized system that gives power to people travel. it sounds like there'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 can't quite expensive block, hey, is the 1st time that we saw some technology that can eliminate the cost or reduce the cost of trust, dramatically magical things that will happen. trust may be expensive, but it's also short supply all around the globe. people have been losing faith in the media institutions and governments, this technology with a big brains and big egos behind it could fix one of society's biggest 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. virginia's who vanished where she being gone from day coin. they coined it's really a very decentralize and i work in currency. he was intelligent enough to know that a system without a father was going to be much more robust than 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 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 ferro 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. let

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 uses may be billions of them who will adopt this technology without even knowing what a block chain is or how it works. because here's the thing. the average uses don't care about the wires that move them money quicker. don't know about the software that moves this movie or that picture. what will move them a services that will make the days a little brighter, that shows a little lighter and their lives

a little richer. ah . hello there, let's look to north america and much of the weather action is happening in the deep south. we've had severe storms cause flash flooding in texas. and as you can see them moving their way east and they're going to creek up the east coast. by the time we get to the end of the week, we must see that rain effect places like washington, d. c, and new york. now we still got wet and wintery weather, affecting the north west, pulling into british columbia, edging down into oregon and washington. and we are going to see some of that snow stretch across places like a colorado, but it does remain bitterly cold. and when those north western areas is the change though, that we're going to see, come into play in the north east, the temperature in toronto, edging up by about 10 degrees. if we have a look at the 3 day, it's a lot of warms coming through on thursday,

but the rain will return on friday. now we are seen rain stretch across that east coast. this is where much of the action is going to be as we end the week where we are seeing some of that rain effect florida on wednesday, those heaviest show was pulling down into western areas of cuba. now for central america, it is a mix of sunshine and some rain, but from mexico city it dries up on thursday. the temperature coming in at 24 degrees celsius. 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 tools, supplies, and training to help the world's most vulnerable people, uniting across borders to speed up the development of tests, treatments,

and vaccine keeping you up to date with what's happening on the ground. in the world and in the lab. now, more than ever, the world needs w h l. making a healthy a world for you. for everyone. ah, the know that you are fighting, not only for your horse or your fit for your surgery, but also for a show of solidarity. 3 european leaders meet ukraine's president in keith as russia continues bombing several cities. ah,

i've had them think of this is ally from the also coming up a 35 hour curfew is imposed in keith as it's mer warns you.