escalates no, any police can be seen beating nichols and trying to subdue him with pepper spray. he can be heard crying for help and for his mother. o. nichols died from his injuries 3 days later as a video was being released. protestors in memphis took to the streets to call for justice. this is certainly a city very much still in shock by what they saw in that video, the violent beating death of tyrene nichols at the hands of police. ah . hello, norton taylor, london. the top stories on al jazeera, a major rescue operation, is on the way across much of southern took here and northern syria. after 2 powerful earthquakes hit the region early on monday or 3000 people were killed. the quakes were among the most powerful, ever recorded in turkey,

yet at least 1700 people died that and another 11000 were injured. ah, this was the moment, the 2nd powerful earthquake struck southern turkey. this concrete apartment block in mulatto, not able to withstand the earth smiling tremors. many had already fed their homes, fearing what might happen with the miniature conquer mom or ashes at the epicenter of the disaster. here 2 children are pulled from the rubble of a collapse building. i knew parents in disbelief over just like the 1st quick swag while they were sleeping. the 2nd came a few hours later as rescue team scramble to find survivors from the 1st

with they were themes of distraction across at least 10 cities in southeastern anatolia . hundreds of people were killed and thousands of homes destroyed. my nephew's hon with his wife and kids. god willing is good news so severely if we on them as the month when i woke up in the morning, i felt dizzy. i initially thought it was my blood pressure, but when i saw the chandelier shaking, i realize this was an earthquake. i run outside of my family. of course, we were so shocked initially a lot, a little bit in the city of atlanta, a cherry picker was used to lift a woman from an apartment building in danger of collapse. in a national address present, richard tapered on, said the government was doing all it could to deal with the situation. drew to law,

look through the names the turkish armed forces. an emergency and disaster authority have been called to the affected areas. i'll priority is to rescue those, anita, sorry, 9000 people are working now in the rescue efforts, items turkey declared the level for alarm. that means international assistance is necessary given the affected areas so large and millions of people needs help and they are need is even more acute because it is winter and they're facing cold temperatures, snow and rain ah, to care sits on top of major seismic full pines and it's frequently shaken by earthquakes. about 80000 people were killed in quakes that hit the northwest in 1999. with a history of such natural disasters, many are asking why the country wasn't better prepared and why so many buildings collapsed. shanika solo, l to 0, stumble in syria. the death toll is more than 1200 hospitals in the war torn

country, overwhelmed and struggling to treat the 2000 injured. many people have been left homeless and an hour facing it. near freezing overnight temperatures. april in the syrian city of aleppo described the terror. they felt when the 2 earthquake struck . well, it was ha, we're in the street. we don't have a place to go. there's either the mosque or the street where scared for the children. when we went back home, a new earthquake took place, so we went back to the straight. we remembered the days of the war, but this is god's will that the european union and the u. s. are among those sending international aid to, to kia and syria out of the turkish government appeal for help. at least 10 search and rescue teams, including firefighters and monetary aid organizations, being sent from the e. u. russia is also sending rescue workers to both countries. and israel says it's ready to send emergency help to syria, in what would be rare corporation between the warring neighbors crypto pier is next

on out. as they're examining the high tech currencies sweeping the world. i have more news for you, straight up to that likes watching. i've now ah, this is my award winning documentary, one big coin block chains and web 3 that was 1st published in 2020. since then, a lot of things have happened. global inflation rates have sought the price of bitcoin 1st increase by the fact of $8.00, but then fell by 75 percent in vivid many of the smaller crypto currencies imploded . more recently, notable crypto exchanges and block chain protocols had to shut down and it's what appears to be outright from bank data. 8 years ago, i made a film about the history of money banking and bitcoin buckler. boeing. they said

it's going to be a bumpy ride. and now some of the big brains and peak egos for champions crypto currency claim. they are building a crypto utopia. magical things will happen with something called block chain technology. and it just my change your life and they really could complete with, if not even take down the facebook and google's in the amazon. my name is tossed and huffman and i'm going to put some of these claims to the test. forget all the hype will explore the true potential of this new invention. see who was already using it, making it really easy and see the paypal to i a piece of this, all of our oliva. and go deep into a secret bunker that holds billions in bitcoin, but they are those who want to kill it. join with me and introducing a bill to outlaw crypto currency, so that we nip this in the bud or change the world with it. well come to ground 0

in the battle for the future of the internet. web 3 point. oh, they wanted a science fiction dream. what they actually did was was coming disaster. lot of people were not willing to learn after, not willing to admit they were wrong. wrong telling me that i have no clue. that's just what you don't support free speech. you don't support bitcoin, you're an enemy of it. this is bigger than the internet. the iron age, 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 debt, and there never will be. oh, and almost all of the world's money is already digital. just entries in a letter, usually managed by a bank. only a small portion exists as physical currency, like cash or coins. think of it this way. your employer deposits a $1000.00 into your bank account. then you pay $200.00 in taxes, $500.00 for rent, $200.00 for bills and shopping and so forth. whether you use credit cards, debit cards, pay power, 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, a mysterious figure cult patasha aka model published this 9 page white paper. it

said with bit coins open source software. we can create our own money without banks or governments. this new nerd money called crypto currency is created and thought in computers. and before long there was a growing fan club, mostly guys like roger via today. he's a polarizing figure, but beg then he gave away thousands of coins to kickstart the movement, and they all called him bitcoin jesus. i think that for many years he brought more people to be going than anyone else 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 gonna 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 that 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 to that day, but i didn't, i stayed home the entire day reading about it didn't leave us date up all night that night. reading about the date up all night the next night or he went deep down that rabbit holding on to the point of physical exhaustion off as i called a friend of mine. it please help me. i'm so sick. can you bring me to the hospital? yeah, roger got beat bad by the bitcoin bug, like so many others, formal, truly, one of the most exciting inventions ever in the entire history of humankind. but how does it look? when my friends asked me to explain? well, i often thought of it 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, their digital keys. think of them is very long passwords. your private key gives you access to a wallet which unlocks billions of unique day coin 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 to one big coins. setting 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. oh, ah, for most 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 the coins as payment for physical things. b as in

burgess, back in 2011. there were no mobile wallets, right. so you had to go there, bring your laptop type in this long address. you do risk losing the money if you didn't type it correctly. so the 1st guy who built by law with some guy prevent who built it in order to buy his beer with his phone instead of his computer. so what if those slow, inexpensive middleman with m multiple ledges could be replaced by a giant database, synchronized over the internet? that's the big idea behind bitcoin. and it's run by a decentralized global network of powerful computers and regular laptops. this immutability is the 1st rule of big coin. it means no one can ever change was once recorded in the block chain, or spend the same coin twice. that's also called censorship resistance, and it's critical to bitcoin being used as real money award winning journalist laura, she tells me

a story about women bloggers and canister and being paid in bitcoin and that one of the women that hadn't abusive husband and saved up her big coins and eventually was able to divorce him because she was able to control her money when she earned bitcoin. in my 1st film, the early adopters said that this kind of financial freedom for every one was just around the corner. the world's most populous network is adopting bitcoin. that's the internet. the world's largest economy is adopting bitcoin. that's the internet . we have transcended borders. it's totally file is electronic cache. david gerard doesn't buy all the height. he's one of the most outspoken critics and skeptics of block chain technology. it's not very good as a payment system. this small payment use case. if you want to trade in things, the government doesn't want to trade in that david polite way of saying illegal stuff. in 2011,

most of my partner colleagues were saying 3 whether the drugs pornography on the silk road was a black market on the dock with 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 in escrow by snatching his computer. and then they locked him away for life. no doubt crypto currencies can be a tool for criminal activity, but so on dollar bills, all the banking system. and let's not forget, the block chain is a public ledger. it's actually been quite useful for uncovering crimes. a former federal prosecutor named catherine hon. she was the one who discovered that there were a couple of federal agents that were pilfering 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. but what makes bit coins worth stealing? why do they have value at all? let's go back to where big coins are stored in transparent digital deposit boxes, protected by strong cryptography. they can never be copied or leave the vault because any transaction of any bitcoin down to a 100000000 fraction is recorded in the block chain for eternity. this synchronized global letter is shared among thousands of computers worldwide. that's why it can't be compromised or altered. think about that. we can make an infinite number of perfect digital copies of the movie, a song, any file. but for the 1st time in history, this distributed record keeping allows us to have

a truly unique and fungible digital object that is also scarce. if you could count all of these virtual coins, you find about 18000000 of them today. when the cap of 21000000 is reached, the protocol stops the network from creating anymore. it's the opposite of our traditional money supply, which keeps growing and growing. an unlimited amount of dollars loses a very limited supply of bit coins. you do the math. if you use euro's all 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 ours and deny my parents or she branches there. and i remember growing up in my childhood,

i saw my parents lose everything 3 times. first, because of a huge evaluation and because of hyperinflation and the last time because the government confiscated all of bunker bosses, i think that they, there are billions of people at least 4000000000 people who would be a lot better off by having access to a form of money that is non political and, and more than mccracken we think of finance. we think of banking, we think of money in terms of the experience and perspective of a western european or developed nation person. and that is really just a 1000000000 and a half people who have a very privileged financial life. what about the other 6000000000? every single country that is free has essentially a legal status for crypto currency that is very open and permissive. and every single country that is unfree has restrictive or band crypto currency status.

this is the berlin wall, fell a powerful symbol of a government trying to control it citizens. and that brings us to the big question, can governmental bangs, ban bitcoin? well, some politicians still think they can stop open source software. i looked for colleagues to join with me and introducing a bill to outlaw crypto currency purchases by americans. so that we nip this in the bud in part because not oh, awful lot of our international power comes from the fact that the dollar is the standard unit of international finance and transactions clearing through the new york fed is critical for major oil, oil, and other transactions and it is that the announced purpose of the supporters of crypto currency to take that power away from us. perfect currency represents a litmus tests for governments. it's 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 is a lot about the government's is very little about her to guard. you see, the reason why some governments in most banks are threatened by this technology is simple. your private key and your wallet can replace your bank account. the network is run by software in its currencies, made and maintained by computing, power, and electricity. it can't be manipulated by central bankers, wall street lobbyists, all politicians, but with new freedom comes new responsibility. so if you control with keys, it's your little boy. if you don't want for all the keys, it is not your bed queen your keys dropping quite natur, keith boucher, big boy, your keys, your big boy. ne, not curvey 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. or worse, you trust a 3rd party like mount cox in the early days, or if the ex recently. and you find out that they didn't deserve your trust. millions of crypto currency investors have lost their assets by storing the coins on centralized exchanges. and remember how, whence as a family had them money stolen by their 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, inactivity light, 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 normally 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 had to see it for myself. even though it took months for us to get cleared for a tour, we were met by christopher smart, a former military commander who runs the place. and the representative from sample kristof said, the gods would rather shoot us than show us around. i hope he was kidding. they need to bring in the material 3 other side of the personal log. first up, one more check of our i. d 's, a pet down for weapons or any other monkey business and gear inspection. even the boss was searched. it took nearly an hour to get my team through security, but it was worth it. no other film crew has been allowed access. we are the largest

custodian fit going in the world because a lot of the largest holders in the world use us or security rumor has at the 10 percent of all bit clients are stored here and in there for other secret locations . unfortunately, i can't confirm any of those numbers from the mountain the we're getting a lot of benefits by earthquake proof flooding proof. but on the other side, you're facing a lot of additional costs, like maintaining 7 independent back up power supplies. the labyrinth of tunnels deep into the mountain is interrupted by nuclear, great dos. it's a level security apply to all of the data crystal protects here. not just for example, we cannot talk too much about it because it's

a privacy quite to what is down, where are we allowed to film there? now the doors that remain shut and security measures we weren't allowed to see. and some of those checks may be biometric, including the i kind of fingers brains can and the fingerprint scanner. also make sure that you are alive, but you the cut someone finger and you're just using it to open the gate. so you have a direct these on samples actual service, but if you've ever wondered what triple currency thieves dream about, it's sitting somewhere down here unplugged from the internet. but there is absolutely no way here a way to attack the use of the cold storage side. but here's my question, why do i need the cold offline service to be inside them out and kind of be in my

basement while the surveys and it still can be sold, right? so, so this isn't like money data. yes, 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 lawbreakers and troublemakers, he now runs a crooked to fund out a monitor. our research shows that the crypto markets are gonna probably be worth about $8.00 trillion in 2027, which is a 50 x. um today, exactly. most financial analysts say you better stick to your chance and bonds and

dollars bitcoin is dangerous nonsense. far too risky as investing to others. bitcoin is an escape hatch that will take them away from risk and insurance against the financial doomsday away out of the debt crisis, negative interest rates, trade was an economic downturn. they say it's an anti fragile asset uncorrelated to financial markets. so how about the general public in america, the younger generation already starts to trust this new asset class. and when success, bitcoin may reach a $1000000.00 per coin. i would say the biggest financial mistake you can make right now is to own an amount of bit going that you cannot afford to lose because it's super risky. you may lose. the 2nd 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 nun material exposure, you change your life, not what you would spend with your on a romantic weekend with your wife. say, sorry, we're not going to go out this weekend. i'm on is, is by bit going consider it, spend it disappear, check in 7 years. i either gave you buy the rice and cost your weekend or i want a grandkids call one seat. ah, in 201718, there was a big debate about whether bitcoin should increase the block size. some argued that more transactions should be enabled, so it would, it be cheaper to use it as currency back group ultimately forked the chain, which means that they split off to do their own version called bitcoin cache. hold on, let's go back to where we started. bitcoin was created peer to peer like 20 cache. that was the killer of 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 sell $1.00 or $1000000.00 worth of value anywhere in the world. you can do it for free, and one philosophy could be described as the coin it's digital goals. and the other philosophy can be described as the coin 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, it just increased the size of the blocks from $1.00 to 248 megabytes. so 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, 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 fraudulent to say that and causing people to, to buy vehicle cash. when they actually wanted buy pick coin, they're hazardous guns and be cashed. thing is from issue. she wished a line for her and been told the omnia crew d for the english,

rosie dr. z call from bitcoin b. cash kickoff tom. depressing. he had some of his yellowish energy, nuclear, those in your face to bitcoin. recall them coming up with block chain explained and predicting the future of the internet with inspiring story round the world. oh, we want them to. yeah, we need to get the human life capture. and it's the 1st one, this deal like that presentation of what i want people to remember me by groundbreaking food, from award winning film makers. witness on a j 0. 0.

a new diverse range of stories from across the globe. from the perspective about networks journalists on al jazeera for and i wonder on taylor in under the top stories on al jazeera and major rescue operation is underway across much of southern took here in northern syria, up to 2 powerful earthquakes, hit the region early on monday or the 3000 people were killed. the quakes were among the most powerful,

ever recorded and took here. at least 1700 people died there, and another 11000 were injured. present rich tire at one is declared 7 days of morning. in syria, the death toll is more than 1200 hospitals in the water country overwhelmed and struggling to treat the 2000 injured. many people have been left homeless and now facing near freezing overnight temperatures equal in the syrian city of an epo describe the terror they felt when the 2 earthquake struck. while we are in the street, we don't have a place to go. there's either the mosque or the street. we're scared for the children. when we went back home and us quite took place. so we went back to the street. we remembered the days of the war, but this is god's will the opinion and the u. s. are among those sending international aid to, to kia and syria off of the texas government appeal for help. and he's 10 search and rescue teams, including firefighters and humanitarian aid organizations are being sent from you.

and israel says it's ready to send emergency help to syria. what would be corporation between the war and neighbors, famous landmarks and archaeological sites in syria and took you were also damaged by the powerful earthquakes, sections of a citadel in the northern syrian city of left electro collapsed lepers, renowned for its ancient citadel unesco listed historic center and centuries old covered markets. in other news, at least 5 palestinians were killed by israeli forces during a raid near the city of jericho. and you can find west bank is really forces to the job a camp on monday morning with the end of capturing a group of fighters. israel says 2 of the individuals killed were involved in a gun attack late last month, and firefighters in chile continue to battle of deadly as far as a record. at least 26 people have been killed, 800 homes and destroyed. and more than

a 1000 people injured crypto few continues. now i'll be back up to that with a news are due to me that if you can, the mean time does get a website out or 0 dot com on all 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 that promise. but 1st, we need to go from bit coins, original block chain to hundreds of block chains. back in 2011. when charlie leave was a google engineer, he wanted to foster and lighter version of photoshop's crypto currency. and was one of the 1st to experiment with the open source software. the actual quoting terms of like the code differences between the clan, my quote was actually pretty trivial. and what, what does that mean in time? like i would say like, $44.00 or 5 hours. light claim was one of the 1st alternative trip to currencies or

all kinds. 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 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 the big magazine, founder of a theory and just general question. chris currency advocate. just 19 years old. vitale was on a mission to make money programmable comparison. might they be quick like a spreadsheet and is there him is like a spreadsheet with macros? using all analogy, syrian allows you to store crypto currency and computer code in the same secure box . here's how a smart contract might work. let's say i bet charlie that

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

proponents say that if we used smart contracts, we could tell the bankers lawyers escrow agents and wall street finance guys to take a hike or so we're, we're doing is we're saying we have this a theorem network inside the room network. there's this asset called ether. and we're actually going to be selling user, we're going to be selling either at a rate of 1000 to 2000 either for one bit calling. and that's how we're going to raise money. it worked vitale figured out a way to fund this year and project and it made his investors very rich. this new model for fundraising soon had a name, an initial coin offering or i c o. i b as an i c o sound similar, but they have, they're not things similar. the only thing similar about them is they help you raise money. i feel if you don't do until you have a company and you have revenue and you have users and you actually proved 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. the goal here is like, ultimately i like to say 8 year olds building. there are financial systems. yeah, but what if some of these a deals are also scam us? so let's say i'm trying to do it. i feel and i curtis my contract where i create a 1000000 coins. and one of the transactions is that if you send me $100.00, i will send you that many worth of 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, some people hawking you 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. he will only care about the client. everything else is going sure. there are tons of useless projects that will never work. but maybe i was a bit too harsh on. i feel democratizing thought of finance can be a good thing. they've also many legit companies raising capital. over the years i've met many founders who have real offices with real people trying to solve a real problem. but the big point maximus of

a block change i fios i e o s t o smart contracts on the theorem. that's all just a waste of time. very small rock st. revolutionize your health care industry and the automobile is coffee is what you're saying is a maximum of this point of view you are speaking about from a perspective of, of a cult. oh, my problem is that you hijack the movement of a technology that is far greater and has far more potential than just these individuals. there's all of these different things that you could use blocks in for, right? and so people have almost like different ecosystems. and then when you see it's almost like an illusion. airy process right where the block chains fork and they have the same as histories, but they adopt different environments and we see just like ever increasing level of diversity and number of blog change. i think the idea that there's like one block

chain going to be one blocks and it's going to be fit, verifying it. it's almost like disregarding the nature of evolution. meanwhile, the big corporations have been studying crypto currency. and they think that bit cons underline database is where the magic is, the more on the boardrooms block chain, not bitcoin back in germany, my friend oliver keeps tabs on the men in suits. he used to be one of them has always and the name and diesel up to be taken off the bus besides the, by the court, and asked alon by being the, get us 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 condos really came from. who grew them for packed them and ship them? you might wonder, what's the point of a block chain if it's controlled by a company? well, i compare it to the open internet versus company owned internet's. they both exist . meanwhile, facebook announced the crypto currency for the 2000000000 uses. such a system might be more efficient than a public doc chain, but there's a downside. some governments banded within weeks. right now the way it is a paper that's being shifted around that doesn't make any sense that infrastructure needs to be or why occupying wall street when we can build a new one on the block chain instead in the future of the centralized finance stock certificate. corporate bonds, insurance policies, property, deets, mortgages, all can be turned into crypto tokens and may tradable 247

what's, what's more exciting than tokenize security, the traditional businesses where it's just equity that you probably around. it's totally novel digital securities that you couldn't do before, right? novel use cases where you could kick back flash on a continual basis. i think some examples of 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 the chairman of pal ledger and we use the block chain to enable electricity trading energy asset financing and carbon market. this award winning australian company wants to take us to a common free economy, foster. gemma has identified a problem that building often during the tentative and it made if there is still a panel, the owner of the apartment isn't really incentivized. so i'll go back to the 10 if

it. but using up all the tenant will pay the bill to the body corporate using power ledger the $10.00 and pasting owner, not the power company for the electricity. if the tenant isn't at home, the unused energy will be sold to a neighbor, lowering the power bill, and making a profit for the owner. it actually crates the mechanism to justify investing in the capital in the best buy. this clever system could also speed up investment in sustainable energy projects by making it real easy to own a piece of a solar or a wind farm. why do i need a block chain for this kind of invest in a solar farm without this new fancy tech? what chain x is the kind of an income register? and in taking the asset, it becomes tradable on an exchange, or in 2 or 3 solar panels of a 1000, you know, in a sofa. and you would say 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 ironic? photoshop's anti bank invention has 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 oh trends. my name is mark francesca, i'm here at oxford years oxford. i'm a faculty. i'm economic sociologist by training, interested in how large scale infrastructure changes. so great to see you after 9 years. i know mark teaches a class on innovation and system building. he tells me what must align for new

technology to become fruitful. all technology start out as interesting ideas. some of them begin to develop the innovations and we know that that art from invention to innovation, takes all the time. it takes a lot of work. some of those innovations eventually become commercially viable. but can this technology ever become as pervasive as the internet? i came to the computer history museum in the heart of silicon valley to find out. so you're looking up the console for sage, which was probably the 1st computer network. there were $23.00 centers around north america to warn against soviet bombers and they were waiting for world war 3. the u . s. military and some american universities asked this guy to create a new kind of network to connect they're separate networks. this young girl got up and she had a bunch of questions, but her 1st one was how did i manage to can the full,

the governments of the oral political, the internet? and i said, well, except for the handful of us that we're actually working on the internet, nobody else really thought it was a very good idea. answer in thing was gonna lead anywhere. and you know, we pretty much had a free running room. yes. that's the man who, corn vender, tcp i p, about 50 years ago. that's the original academic paper. you can think of t c p as the backbone of the internet. but back then there were many competing technologies. there was a very big battle over the protocols. 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. i heard 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 as a 20 page proposal. soon,

there were browsers that made it more accessible and user friendly for the general public. but i think that the internet is going to be one of the major forces for reducing the roller government. 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 was as be the world's greatest library to some of the early cypher punks who are the direct fathers of crypto and certainly bach chain type ideas who thought much as today, but it would create kind of a commons that was outside of the direct control of normal laws and governments and the media. they didn't quite know what to make of this new thing either. but sure enough, they found juicy stories about the dark side of it, which was the internet is full of criminals and pita files and pornography hers.

and it's too dangerous to use your credit card on it. it's full of scans. we're seeing the exact same story now. we envision technology as if it were autonomous. if, as if it were simply outside of human and social experience. what we see our technologies that become shaped by commercial interests, by political and regulatory infrastructure, by actors who are acting for many reasons, right? where do you remember bob? the big 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 is 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, 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 country thought it china has the least free internet worse than iran. cuba or syria, a police force of more than 2000000 siva cops and the woods, most sophisticated, artificial intelligence system, keep china's web content clean and uses in check. so sorry to break it to you,

but there is no longer world wide web. welcome to the sprint than it to be fair. some of the censorship is to prevent terrorist recruitment or to stop violent moths from hurting people. but i think government control over the internet has gone just a little too far. hold on. so tow sheet turn money into code code is just letters and numbers, which is speech, right? so money now is speech, which is a pretty powerful idea if you think about it. but if bitcoin is this uncontrollable on sensible technology, can the block chain also enable global free speech? in some places it already does. one chinese student tried to report a sexual assault and was silenced by her college. but she knew that she could attach a message into the metadata and a theory em transaction. so she spent $0.15, and now her letter outlining her story. and the threat she received is on the public assyrian block chain, where it will remain unchangeable,

forever. the early crypto pioneers wanted to democratize money. finance. 2 point. oh if you will. but now the believe us in the block chains have their eyes on a bigger price. they want to decentralize everything. web 3 point. oh, you can, for instance, offer file storage in a way that an amazon does or that you could offer search, you know, the way google does, but do it in a peer to peer fashion without this behemoths at the center, extracting rooms and do it in a way where all the people that are users or that can benefit and they really could some day compete with if not even take down some of the big tech try and like the facebook and the google's and the amazon that we know that, that tall, tall order and is it is, but i mean, who would have thought at the beginning of the internet that would be, it would be out and 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 middle men anymore. it's a trust list system. maybe you recognize some of these logos project that were the hot stuff in 2019 the following year on emergence of the fi tokens, many of which rose to 1000000000 dollar valuations. and the after that was all about the n. f t hype art on the book chain, but most of these prices have come crashing down. many of the former heroes have fallen. some of them are in jail. why should be so there's like, you will build a better future. we can trust you guys better than the bankers you don't have to trust us. that's the beauty. we're building a trust list, the centralized system that gives power to people travel. it sounds like there's no trust, but actually it means we don't need to trust you. i think the better word should be

trust to free. about one 3rd or maybe half of the cost of the transactions are paid to establish trust between trading parties. like we're paying for lawyers, we're paying auditors who are paying even please even regulators government to, to build trust, ensure everything will be enforced. so talk to quite a lot a 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 in short supply all around the globe. people have been losing faith in the media institutions and governments, this technology with a big brains and big egos behind it could fix one of society's biggest issue. but just how different are they from our current political, financial, and business leaders? are there systems really resistant to corruption immune to manipulation and worthy

of our trust? maybe that's why the best bet is on the only project without a figurehead. bitcoin doesn't care about human drama, bad press, or what anyone thinks? yes, sure. it hasn't succeeded as a global currency yet, but in the past decade, it has been the world's best performing financial asset. so we're back to where we started. a genius who vanished with natalie, she being gone from day coin, they coined it's really a very decentralize and networking currency. he was intelligent enough to know that a system without a father was going to be much more robust than is it them with a father? no father, maybe, but without leaving a will, the kids are now fighting over the meaning of his invention. and the inheritance projecting their fears and their fantasy 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 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 may be the end of money as we know it. for some enter pronounce, 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 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 hopin ideas isn't this a bit too much to ask of a 9 page document? yes, sure. the internet and the web started out as white papers too. but it took decades before its infrastructure was built, became user friendly and ready to scale globally. we kind of domesticate the wild potential of, of technologies into what's familiar and we dramatically underestimate are under a match on what that technology may eventually do. it'll be the use us may be 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 why is that move their money quicker? don't know about the soft bath, it 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 . 1956 to nicea gained independence from france. but the brutal power struggled broke out between the v is monarch on the countries. nationalist prime minister o g 0 world tells the story of the downfall of the dentist. you folded the paper and read to the decision issue. the last monarch, austonia power and politics on

a josina the hello there was got down under in australia and it's a hot and stormy pitcher. depending where you are. we have got heat wave warnings out across parts of queensland as well as western australia. pub, however, seemed attempt to get down to the high twenty's. it will be picking backup by a danger out where that heat continues. thunderstorms effect in queensland, we could see some flooding where the rain falls heaviest. we've also got a circulation that's pulling across the coral seats, not, not expected to make landfall, but it will chuck's wet and windy weather at coastal areas. now the southeast corner has been rather cool places like melbourne, if we have a look at the 3 date, the temperature picking up 3 to thursday and it looks rather settled. settled is the word when it comes to the south island in new zealand, just a bit of rain creeping into western and southern areas,

but christ church 29 degrees celsius, a lot of heat coming through here. temperature doug, get down. however, by the time we get to wednesday, it's farther north that we are seeing those settled conditions continue as well. welcome relief falkland, and when you move to south east asia, some very heavy rain to come for southern areas of indonesia, we could see some flooding across java as the rain intensifies, much more mild for indo china. ah. the latest news as it breaks, forces are about a kilometer in that direction. you are in military, it's good now with detail coverage, where it will have the palestinian economy on the verge of collapse or decade from around, the world's best proto thought. expanded too broad, a social movement, not just against increasing the age of retirement, but also against the continuing cost of living crisis. actually can stories

from african perspectives and the marine biologist vessel swim short documentary from african peel. i'm going to do this from south africa. ethiopia and nigeria, we been to go over some stuff in this class. she saw this as my, and my role africa direct on al jazeera. ah ah, hello, i'm lauren taylor. this is the engineer and use our live from london coming up, hold buildings collab.