ah hello, i'm darn jordan and dough. with a quick reminder, the top stories here in al jazeera, at least one person has been killed in a russian missile attack, in the ukrainian capital cave. emergency services say around 30 people were evacuated from the residential building. a theater mario pole that was sheltering. hundreds of people was destroyed in an air strike on the wednesday. the number of casualties is not yet known. earlier russian rockets, it a convoy fling the city entering 5 people. the u. s. embassy in keith says, russian forces have shot dead several ukrainians while you are queuing for bread in chinese. and the cumberland has called us president, jo biden's comments labeling vladimir putin, a war criminal, unacceptable and unforgivable it was ours after zelinski is impassioned,

addressed to the u. s. congress. our white house correspondent, kimberly hunk, get reports from washington dc after weeks of violent attacks by russia on ukrainian civilians. u. s. president joe biden, for the 1st time called russia's vladimir putin, a label that until now. the white house has been hesitant to use. oh, it is a war from you. even the president initially avoided the term given its legal implications, and an official review of put into actions by the state department is still incomplete. biden's remarks followed a morning of high drama beginning with an emotional video shared with the u. s. congress by ukraine's president vladimir zalinski. ah, it featured images designed to evoke a response of what ukraine looked like just weeks ago before it was attacked by

russia. it was part of the ukrainian president's virtual plea to u. s. law makers to do more to help his country resist russia's military invasion. remember, pearl harbor that terrible morning of december, the 7th? 1941. remember september, the 11th reviving memories of when the united states was also under attack, zalinski again pressed congress for a no fly zone over his country to create a no fly zone. to save people. is this too much to ask aircraft that can help ukraine help? europe and zalinski went further appealing to president joe biden directly, even though biden has already rejected previous requests. as the leader of my nation, i'm addressing the president bother. you are the leader of the name. oh yeah. i wish you me the leader of the all

being the leader of the vault means to be the leader office. but boy is a no fly zone. could lead to a direct confrontation with russia and a possible nuclear war. he again resisted zalinski please. instead announcing 800000000 in additional security assistance for ukraine, anti aircraft, and anti armor systems, small arms and drones, more of what the u. s. has already been providing united states and our allies and partners are fully committed to surgery, weapons of assistance to the ukrainians and moral becoming as we source additional starts of equipment that are all that we're ready to transfer. but the new aid package stopped short of the mig fighter jets and the no fly zones. the lensky wants putting the white house and some congressional leaders in conflict. while i

oppose a nato, no fly zone as support enthusiastically the sending of mig aircraft from poland to the ukrainian air force so that can be more competitive in the skies. well, president biden has rejected the idea of a no fly zone for now. it is still under consideration and will undoubtedly be a topic of discussion when the u. s. president has to brussels next week for a special meeting of nato leaders. kimberly help get al jazeera, the white house. so those were the headlines. the news continues here in al jazeera, after cra tapia spectrum, thanks so much bye. ah .

theta 7 years ago, i made a film about the history of money banking and bitcoin. what was going on, a 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 is something called block chain technology. and it just might change your life and they really couldn't complete with, if not even take down the facebook and the google's in the amazon. my name is thorsten hoffman and i'm going to put some of these claims to the test. forget all the hype will explore the true potential of this new invention. see who is already using it, making it really easy and see the paypal. i a piece of us all of our lisa. and go deep into a secret bunker that holds billions in bitcoin. but they are those who want to kill

it. join with me in 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, builds forthcoming disaster. lot of people were not willing to learn after not willing to admit they were wrong. life is wrong. even telling me that i have no clue to death. just one p don't support free speech. you don't support bitcoin, you're an enemy, a bit point. 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 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, 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 or you went deep down that rabbit holding her to the point of physical exhaustion office. i called a friend of mine that please help me. i'm so sick. can you bring me to the hospital? yeah, roger that bid bad by the bitcoin bug, like so many others who follow truly. one of the most exciting inventions ever in the entire history of humankind. but how does it work? when my friends ask me to explain? well, i often start with this analogy. you mentioned a bank vault where you have a safety deposit box. your key opens one of the boxes where you can securely store physical valuables, like gold coins. in bitcoin, there are digital please 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 back in 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, 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 angeles, 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 age 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 and canister and being paid in bitcoin, that one of the women that hadn't abusive husband and saved up her bit 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 trying to cash. 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 payment 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 bitcoin to fly under the radar of the authorities. it had 1000000 uses until the s 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 were pilfering than bit coins 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 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 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, it supply of bit points. you do the math. if you use euros or dollars, you might not care about a little inflation per year. but if you can see, isn't stable, you might be a trillion and paper and be dead broke. i grew up in, but i wanna in the same part of hard to deny my parents, are she branches there? and i remember growing up in my childhood. so my parents lose everything 3 times. first, because of a huge evaluation then because of hyperinflation and the last time because the government confiscated all of bunk, the boss it, i think that they, there are billions of people at least 4000000000 people who would be a lot better off by having access to a form of money that is non political and, and more than mccracken. we think of finance. we think of banking,

we think of money in terms of the experience and perspective of a western european or developed nation person. and that is really just a 1000000000 and a half the 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 that the announced purpose of the supporters of crypto currency to take that power away from us for to currency represents a litmus test for governance. it reveals how much your government believes in a, in the fundamental freedoms and, and human rights. because if they don't trust their own citizens to have control over their own money, that's a lot about the government'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 big 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, you're a big, quite natural. he's not sure of a boy. got that. if you lose your key, you will never be able to access your coins again. and if someone hex, your computer where you store those passwords, your coins will be stolen in a 2nd. and remember how, whence as a family had them money stolen by the own government? well, maybe that's why he built the fort knox of bitcoin security. 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 to begin addresses. we keep those private keys in an offline, sorry that has never been online, will not be online. 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 costs, like maintaining 7 independent back up power supplies.

the labyrinth of tunnels deep into the mountain is interrupted by nuclear, great dos. it's a level of security apply to all of the data crystal protects. here. not just for sample we cannot talk too much about it because it's a 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 biometric, including the i kind of fingers brains can and the fingerprint scanner. also make sure that you are alive. do the cut someone's finger and you're just using it to open 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 varies 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 kind of be in my basement while the surveys and it still can be sold, right. so this isn't 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 troublemaker, he now runs a crooked to fund out of walter. our research shows that the crypto markets are going to probably be worth about $8.00 trillion in 2027, which is a 50 x. um today, exactly. most financial analysts say you better stick to your chance and bonds and dollars bitcoin is dangerous nonsense. far too risky as investing to others. bitcoin is an escape hatch that will take them away from risk and insurance against the financial doomsday away out of the debt crisis, negative interest rates, trade was an economic downturn. they say it's an anti fragile asset uncorrelated to financial markets. so how about the general public in america, the younger generation already starts to trust this new asset class. and when success, bitcoin may reach a $1000000.00 per coin. i would say the biggest financial mistake you can make

right now is to own an amount of bit going that you cannot afford to lose because it's super risky. you may lose. the 2nd biggest financial mistake you can make is not to own any because you put one percent of your net worth in bid going. most people can afford to lose one percent of the net worth. and if i am right, it's gonna be more than a 100 percent of your net worth. so with a non material exposure, you change your life. now what you would spend with your on a romantic weekend with your wife, say, sorry, we're not going to go out this weekend. one is, is by bit going, consider it, spend it disappear, check in 7 years. i either gave you 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 treat as peer to peer electronic cache. that was the killer 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 of fact, as long as bitcoin keeps doing sudden increases in prices, that's going to stop retail youth in its tracks. with bitcoin, you can send $1.00 or $1000000.00 worth of value anywhere in the world. you can do it for free, and one philosophy could be described as the coin additional goals. and the other philosophy can be described as bitcoin, as digital cash. bitcoin wanted talking with what we've already met, the digital gold camp, who opposes any changes to the protocol, despite the 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 that struggle against the establishment. now the industry has grown so much that they are competing parties, propaganda machines, conspiracy theories looks a lot like politics. the biggest fight within the bitcoin ecosystem is over at the moment, is who has the right to the name bitcoin. but at the end of the day, i think the version of bitcoin described in the big one white paper has the strongest claim to the name bitcoin than anything else. and that's pickling cash. i

think it's to say that and causing people to, to buy big cash when they actually want to buy big coin as it us going to be casting is from issue shalicia and i'm been told the army d for the english rosie doc, the call from bitcoin b cash kickoff time impression he had for them his sierra show 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 cold response. nato's long plan to military all take the thighs, the largest since the cold war has taken on new significance as the war rated in ukraine. day with al jazeera for the latest development as 35000 feet from 28 nato countries. demonstrate their abilities in a region already edge. oh man has

a rich history, but also plays an important role in the gulf region today. alger there, well discovers it's empire stretched from the arabian peninsula to east africa. bill from great sea power. the problem that existed in the gulf was piracy. tribes, woods, rebellion, empire, and colonization. oman, history, power and influence on al jazeera. it is murdered. when you throw a fire bomb into someone's home and me shit, no rash, if you know a not insignificant in numbers that insignificant ideologically the insignificant even as a crime gain. very significance by dictating the government, the fact of policy, thou shalt not kill parts of the radicalized div series on al jazeera lou.

hello, i'm down. jordan dealt with the top stories here on al jazeera. at least one person has been killed in a russian missile attack and refrained capital. keith, emergency services say around 30 people were evacuated from the residential building. a russian strike on the southern ukrainian city of mario paul has destroyed a theater where hundreds of people were sheltering earlier russia rockets hit a convoy fling the city and during 5 people ukrainian authorities say russian forces are shot dead. several civilians, while they were queuing for bread and chinese us president joe biden, comment that vitamin tutoring is a war criminal has been called unacceptable. and unforgivable by the kremlin. biden had already announced $800000000.00 in new military aid for ukraine. that followed

below me as the last address to the u. s. congress. friends, americans in your great history. you have pages that allow you to understand ukrainians. now we need you right now. remember, pearl harbor that terrible morning of december 7th. 1941. when your skies turned black from plains attacking you, just remember it. remember september, the 11th that terrible day in 2001 when evil tried to turn your cities into battlefields, innocent people were attacked from the air, no unexpected, and you could not stop at our country is experiencing the same every day, every night for 3 weeks now, russian president vladimir putin says he's ready to talk about ukraine's neutrality . he added that western sanctions against moscow by fire, in a very cowardly way. there are some cultures who have lived down there. a part of the great financial partial against russia have been noticed. and we will do what we can to make sure that the new package of sanctions,

i guess russia will be met by our majors against them. in other news to british, iranians arrived back in the u. k. after spending years in detention and iran, nothing's a gallery, ratcliffe and a new sheree were both convicted of plotting to overthrow iran's government, but always denied the allegations. a cambodian court, a sentence 7 leaders of a now dissolved opposition party to 10 years jail. the plotting to overthrow the government is the 1st in a series of trials of opposition figures and the supreme court of on juris, approve the expedition of former president, one, orlando, and others to the u. s. on drug trafficking charges, but he can appeal really well. those were the headline news continues here now to 0 after crypto p. thank you. thanks so much like i know, i know you want to find out what any of this has to do with this new crypt tapia, revolutionary internet will get their promise. but 1st,

we need to go from bit coins, original block chain to hundreds of block chains, back in 2011 when charlie leave with the 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 like the co differences between the client. like why was actually pretty trivial. and what does that mean in time? like, i would say like, $44.00 or 5 hours. light clean was one of the 1st alternative trip to currencies or all points. some of the early adopters, like charlie made fortunes. soon there were hundreds of points 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 the big magazine, founder of a theory and just general pick wanting proof of currency advocate. just 900 years old vitale. it 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 our analogy, serum allows you to store crypt 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 smart contract, a simple program that automatically checks the price of light coins on that future date. if i'm right, the money goes to me. if i'm wrong, it said to charlie 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 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 room network. there's this asset called ether. and we're actually going to be selling user, we're going to be selling either at a rate of 1000 to 2000 either for one bit calling. and that's how we're going to

raise money. it worked, metallic, figured out a way to fund the future 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 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 of people on the team, it's just a white paper. and so people are just buying into trust interface that this is something that will exist. 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 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 raised millions in etha and then vanished, leaving investors with this website looked close. that's nice. i would say about 2 to 5 percent of the 1000 devices that are happening are actually legit. and the

rest is pretty gammy or it's not going to work. can you define for me what coin is? i think it's just a derogatory term. people use on coins that they don't like for the claim. maximus, people only care about they claim 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 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.

health care industry. and the all model is coffee is what you're saying is a maximum point of view you are speaking about from a perspective of, of a cult. oh, my problem is that you hijack the movement of a technology that is far greater and has far more potential than just these individuals. there's all of these different things that you could use blocks in for, right, and some people have almost like different ecosystems. and then when you see it's almost like a neighbor luminary process right where the block chains fork and they have the same as histories but a dock to different environments and tedious like ever increasing level of diversity number was changed. i mean, the idea that there's like one block chain going to be one block and it's going to be fit for everything. it is almost like this regarding the nature of evolution. meanwhile, the big corporations happen starting crypt currency. and they think that the kinds

underlying database is where the magic is, the more on the board rooms block chain, not bitcoin. back in germany, my friend oliver keeps tabs on the men in suits. he used to be one of them. and underneath him, and he's up to me taking on his can advice besides by an auto 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 is 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 of carlos really came from for grew them for packed them and ship them. you might wonder what's the point of

a block chain if it's controlled by a company? well, i compare it to the open internet versus company owned internet. 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, but this a downside. some governments banded within weeks. right now the way it is a paper that's being shifted around that doesn't make any sense that infrastructure needs to be or why occupying wall street when we can build a new one on the block chain instead in the future of the centralized finance stock certificate. corporate bonds, insurance policies, property, deeds, mortgages, all can be turned into crystal tokens and may tradable 247 what's, what's more exciting than tokenize, security of the traditional businesses where it's just equity that you passed around is totally novel digital securities that you couldn't do before right,

novel use cases where you could kick back flash on a continual basis. i think some examples of this that we're seeing our maker down finance, which is finance point that's actually much bigger of an opportunity because it represents something totally new. my name is dr. jim a great and i'm a co founder and chairman of pal ledger and we use the 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 apartment building often nearing the tentative, and it main, if there is still a panel, the owner of the apartment isn't really incentivized to go back to the 10 and if it but using up all the tenant will pay the electric 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 crates the mechanism to justify investing in 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 chain acts as a kind of asset, right? just an income register. and in taking the asset, it becomes tradable on an exchange or in 2 or 3 solar panels of a 1000 solar farm. and you would receive the income associated with that amount of no 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 on it. photoshop's anti bank invention and all been

used by the banks to move money faster and buy big business to track supply chain. ah, crypto currencies digital tokens, public block chains, private block chains. where is the killer app? well, adoption of new technology often follows old trends. my name is mark francesca, i'm here at oxford years oxford. i'm a faculty. i'm economic sociologist by training, interested in how large scale infrastructure changes. so great to see you after 9 years. i know mark teaches a class on innovation and system building. he tells me what must align for new technology to become fruitful. all technologies start out as interesting ideas. some of them begin to develop and 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 bombers and they were waiting for world war 3. the u . s. military and some american universities asked this guy to create a new kind of network to connect their separate networks. this young girl got up in she had a bunch of questions, but her 1st one was how did i manage to convince all the governments of the oral politic bill, the internet? and i said, well, except for the handful of us that we're actually working on the internet, nobody else really thought it was a very good idea answer and thing was going to lead anywhere. and, you know,

we pretty much had a free running room. yes. that's the man who, corn vender, tcp i p, about 50 years ago. that's the original academic paper. you can think of t c p as the backbone of the internet. but back then there were many competing technologies. there was a very big battle over the protocols. tcp ip didn't just wind by default on it, one through attrition, by basically being better simpler, easier to deploy them all of the 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 berners lee introduced the world wide web at a 20 page proposal. soon there were browsers that made it more accessible and user friendly for the general public. 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 would as be the world's greatest library to some of the early cypher punks. who are the direct fathers of crypto and certainly bach chain type ideas who thought much as today, but it would create kind of a commons that was outside of the direct control of normal laws and governments and the media. they didn't quite know what to make of this new thing either. but sure enough they found juicy stories about the dark side of it, which was the internet is full of criminals and pita files and pornography hers. and it's too dangerous to use a credit card on it. it's full of scans. we're seeing the exact same story now. we envision technology as if it were autonomous, as if it were simply outside of human and social experience. what we see are

technologies that become shaped by commercial interests, by political and regulatory infrastructure, by actors who are acting for many reasons, right. where do you remember bob? the big telecoms wanted his thoughts on a little idea that were kicking around. they had a meeting where they were trying to figure out how they could buy the internet. they couldn't kill it. well, why not own it? i got ass out myself by an executive at a large information company. it was probably in 1990 if they could buy the internet, and i remember asking them, well, why don't you buy the world economy? and you can have everything once you buy the weather in control that it took a few decades in hype cycles. but the wild internet was eventually domesticated coopted by trillion dollar companies, and then fundamentally transformed how we shop work and communicate speaker's corner in london's hyde park. for 150 years. this has been

a safe place to stand on a soap box to sell you ideas, preached the gospel, bad mouth, the king all promote communism. to dave the world wide web, we can stand on giant digital so boxes using facebook, twitter, youtube. we can share our ideas, or thought a fight with any one on the planet. oh, wow. really? well, almost any, one of $65.00 countries thought it china has the least free internet worse than iran, cuba or syria. a police force of more than 2000000 siva cops and the world's most sophisticated artificial intelligence system. keep china's web content clean and uses in check. so sorry to break it to you, but there is no longer world wide web. welcome to the sprint than it. to be fair. some of the censorship is to prevent terrorist recruitment or to stop violent moths

from hurting people. but i think government control over the internet has gone just a little too far. hold on, potosi 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 chinese, like the facebook and google's and the amazon that we know that, that tall, tall order and 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 list system. meanwhile, if helium is building the future of decentralized finance with thousands of applications, but the network is also struggling to keep up with demand. oh, and new competitors on the rise. so those leg, 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 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? any one things. yes, sure. it hasn't succeeded as a global currency yet, but in the past decade it has been the world's best performing financial asset. so

we're back to where we started. the genius who vanished where she being gone from 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 onto his legacy. for some it's money for the internet that can replace middleman and bank the on banked and maybe a tool for less a trade or is it digital gold? a totally new asset class. a bet against the bank has an insurance against inflation protection from corrupt politicians and a weapon against the state. maybe the end of money as we know it. for some entropy

nurse, it represents a shortcut to fund their dreams. a platform for farrah finance, which is why incumbents fight it. some say public block chains, august slow and useless databases, while big business is busy building private block chains to boost efficiency. or maybe this decentralized technology is a new protocol layer for the internet. upon which we can build a better web to dethroned the tech giants, reclaim free speech, protect online identities, and facilitate free trade in a border less digital economy. and yes, maybe even save the planet. let a never ending list of crypt hopin ideas isn't this a bit too much to ask of a 9 page document? yes, sure. the internet and the web started out as white papers too. but it took decades before its infrastructure was built, became user friendly and ready to scale globally. we kind of domesticate the wild

potential of, of technologies into what's familiar. and we dramatically underestimate or under imagine what that technology may eventually do. it'll be the use us maybe billions of them who will adopt this technology without even knowing what a block chain is or how it works. because he is the thing. the average uses don't care about the wires that move their money quicker. don't know about the software, it moves this movie or that picture. what will move them a services that'll make the days a little brighter, that shows a little lighter and their lives a little richer. ah al jazeera, when ever you oh,

tens of thousands of children were born into or lived under the eisler regime in iraq and syria. now, many are in camps, either orphans, all with a widowed mothers, rejected by their own communities kicking the length of 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 hello there. we'll have a look at africa in a moment, but 1st to the middle east, and after a hot start to the week, it is cooling down to some of the gulf states. thanks to a band of cloud that is pushing its way south as well as a shamar wind that's bringing those cooler conditions to places like guitar as well as the u. a and saudi arabia. and we are in for some chilly nights to come. if we

have a look at the 3 day full re add, look at that for degrees low coming in there. by the time we get to saturday, however, it does recover. we will see that sunshine dominating once again. now across the levant, we are seeing wet and windy weather, poll, east temperatures here, sitting below the average, and that's reflected as well in cross northern parts of africa. we've got an area of low pressure bringing wet and windy weather to morocco and algeria some heavier fools expected here on friday. and of course, that wind blowing up the sahara dust plume across into europe or rather dusty and hot. but for the south of this, it is a wet picture. it's dryer in western areas of southern africa, but it is very wet in the east heavy falls once again for mozambique as well as central areas of botswana. but the further south we go, well, it is finer and dryer with sunshine in cape town. that sure weather ah,

the showing the debate there is no, he job bad. and if anyone here talks about women that i had 2 horses, dustin diesel bill seemed to have been says notes. so he gets off the table. we were taught to see abortion as a one way ticket strength and health all the companies. they deny any responsibility, even though they have the resources in the power to fix that, where a global audience becomes a global community. a comment section is right here. be part of today's program. this stream on al jazeera, with some of the world largest reserve needs. yeah, provides much at the uranium that fuels year. it's nuclear power. but at what cost? people and power follows the uranium trail from nisa to the source of the mediterranean and investigates the devastating effects on the planets and all those who inhabit the industries. part the cost of uranium part to on al jazeera.

ah, russia was accused of bombing a theatre, and maria pull were more than a 1000 civilians were sheltering moscow denies attacking it. ah! you're watching l 0 alive from headquarters, and so i'm getting an obligation. also a heads up your ears will work with the sharpest rebuke, yet of the russian leader vladimir putin by president biden kremlin, calls it unforgivable. the russian army.