host dissects the media. we don't cover the news to cover the way the news is covered. this is one of the most astounding technological revolutions and all of this route make our planner great. today we have to meet the c o 2 emission targets electrical media miti to mention the need to be mind from where people are just talking about wind in summers that can solve the problem. it won't. the world of distance in commerce is driving the energy transition each the promise of clean energy and illusion. the dark side of green energy on al jazeera. ah, ah, i'm carry johnson here in dough. are the top stories on al jazeera, tens of thousands of search and rescue personnel are working into kieran, syria, to free survivors trapped under rubble. after mondays, earthquakes, at least 7600 people have been killed across both countries and thousands more

injured or so said are has more from carmen, rush into care, and extreme workers here, the lack of electricity, food waters, people are really struggling here. now feel of the said did the afford the frantic afford on the way? this is just one of the scenes now work was turkey out. there are hundreds of such scenes that are really witnessing that i did these and that a map, it seems that are going on. but here to the people are still waiting to be rescued . but they're not the only ones. probably. there are some other allied people still, maybe times of them still believe this robert. and according to the officials, just in common mirage. more than 1000 people are missing. will several dramatic rescues have been reported as survivors are pulled from the rubble in her ty, turkey, a rescue was found

a young syrian refugee boy. he was trapped. they managed to pull him out of the wreckage, nearly 45 hours after the major quakes. rescuers are working against time in harsh winter conditions to dig survivors out of the debris collapsed buildings. with weeping the smallest syrian town of jan doris and next the turkish polar discovered a crying infant. her mother apparently gave birth to her while buried in the rubble of a 5 story building. a new born that was found with an umbilical cord still connected to her mother, was since died. the baby was the only member of a family to survive. serious foreign minister as urged european countries to send at his country aid after the earthquake despite western sanctions. aid organizations say humanitarian crisis is emerging in a country already struggling after 12 years of civil war. he was present, joe biden is set to deliver his 2nd state of the union address in just under an hour time. all eyes on capitol hill is by and is expected to address

a deeply divided congress economic uncertainty. and for these sing reform to warn you. crane and tension, the china also expect to be high on the agenda bar and goes into the speech with a flagging approval rating of 42 percent. the worst ever 2nd year approval rating for you as president or white house correspondent, kimberly how could has more there is no question that the president is looking to show our domestic support. given the fact that in many ways, this state of the union speech, the president, 2nd, is a really air kind of a de facto pitch to the american public for a 2nd term in office. and so many americans, well there have been those international distractions are really focused on the things that matter most to them domestically right now. and that in most cases are the things that cost a lot of money right now in the united states. it's food, it's, it's housing and it's getting to work, putting a fuel in their automobiles. and so the cost of energy is also on the minds of most

americans. they're looking for answers about how the president is going to combat that u. s. senate democratic leader, chuck schumer has described the situation with china as tents off united states shot down what it called a chinese civilian spring. over the weekend, the pentagon said china refused a request for a phone call between defense chiefs on the day of the incident. emergency crews and the u. s. state of ohio are still draining and burning of toxic chemicals from last week's rail crash. the train derailed on friday, setting off a massive fire. the force of evacuation of 2000 residence and a giant b. p. has announced record profits. the british energy company recorded $27700000000.00, an annual profits driven by surgeon energy prices. since russia's invasion of ukraine augustine's former president perverse mus sheriff has been laid to rest. following a funeral sermon in karachi, the sheriff died on sunday at the age of $79.00 off to long illness. he lived in

dubai since 2016, a shaft seized power and a crew in 1999. those are the headlines news, continues hernandez, era after crypto pier? ah. this is my award winning documentary lot bitcoin block chains and web 3 that was 1st published in 2020. since then, a lot of things have happened. global inflation rates have sold the price of bitcoin 1st increased 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 going. 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 is something called block chain technology. and it just might change your life and they really could complete with, if not even take down the facebook sending google's in the amazon. my name is thorsten hoffman and i am 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. 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 builds forthcoming disaster while people were not willing to learn, willing to admit there were rough. ha, telling me that i have no clue, says beth, just what? 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 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 pal or bank transfers. they're all just pluses and minuses and different digital letters. that's why there's almost no need for physical money in our daily lives. during the financial crisis in 2008, a mysterious figure, colts attaching a komodo published this 9 page white paper. it said with bit coins, open source software. we can credo, or money without banks or governments. ah,

this new nerd money called crypto currency is created and stored in computers. and before long there was a growing fan club, mostly guys like roger via today, he's a polarizing figure, but 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, of 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. i stayed up all night that night, reading about the date up all night. the next night or if you went deep down that rabbit holding on to the point of physical exhaustion off as i called up 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, formal, 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 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, there are digital keys. think of them as very long passwords. your private key gives you access to a wallet which unlocks billions of unique bitcoin 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. oh, ah, foremost early adopters of big 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 building mobile with some guy 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 the coin. it means no one can ever change what was once recorded in the block chain or spend the same coin twice. that's also called censorship resistance and it's critical to bitcoin being used as real money award winning journalist laura, she tells me a story about women bloggers in a canister on being paid in bitcoin,

that one of the women that hadn't abusive husband and saved up her big coins and eventually was able to divorce him because she was able to control her money when she earned the bitcoin. in my 1st film, the early adopters said that this kind of financial freedom for every one was just around the corner. world's most populous network is adopting bitcoin. that's the internet. the world's largest economy is adopting bitcoin. that's the internet. we have transcended borders. it's totally file is literally cache. david gerard doesn't buy all the height. he's one of the most outspoken critics and skeptics of block chain technology. it's not very good as a payment system. there's a small claimant use case if you want to trade in things. the government doesn't want you to trade in that david 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 them. bitcoin said 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 bit coins are stored in transparent digital deposit boxes, protected by strong cryptography. they can never be copied or leave the vault because any transaction of any bitcoin down to a 100000000 fraction is recorded in the block chain for eternity. this synchronized global letter is shared among thousands of computers worldwide. that's why it can't be compromised or altered. think about that. we can make an infinite number of perfect digital copies of the movie, a song, any file. but for the 1st time in history, this distributed record keeping allows us to have a truly unique and fungible digital object that is also scarce. if you could count

all of these virtual coins, you find about 18000000 of them today. 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 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 invasion per year. but if you currency isn't stable, you might be a trillion paper and be dead broke. i grew up in but i wanna in the same part of ours and deny my parents. are she branches there? and i remember growing up in my childhood. so my parents lose everything 3 times 1st because of

a huge evaluation them because of hyperinflation. and the last time because the government confiscated all of bunker boss it, i think that they, there are billions of people at least 4000000000 people who would be a lot better off by having access to a form of money that is non political and, and more than mccracken, we think of finance, we think of banking, we think of money in terms of the experience and perspective of a western european or developed nation person. and that is really just a 1000000000 and a half people who have a very privileged financial life. what about the other 6000000000? every single country that is free has essentially a legal status for crypto currency that is very open and permissive. and every single country that is unfree has restrictive or band crypto currency status. this is the berlin wall, 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 dollars, the standard unit of international finance and transactions clearing through the new york fed is critical for major oil and other transactions. and it is that the announced purpose of the supporters of crypto currency to take that power away from us. perfect currency represents a litmus test 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 crypto cards. 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 very point. if you don't want for all the keys, it is not your bitcoin. your keys dropping white knocker keys? mantra, big boy. your keys, your big boy. naturally, he's not terribly quite. got that. if you lose your key, you will never be able to access your coins again. and if someone heck's your

computer where you store those passwords, your coins will be stolen in a 2nd or worse, you trust a 3rd party like mount box in the early days, or if he 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 in activity like venezuela rine, our therapy, and we develop the system of vault will we have 5 private keys for each one of our begin addresses. we keep those private keys in an offline, sorry that has never been online, will not be 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 lock. 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 coins are stored here and in there for other secret locations. unfortunately, i can't confirm any of those numbers from the mountain. we are getting a lot of benefits by earthquake proof flooding proof. but on the other side, you're facing a lot of additional costs. like maintaining 7 independent bank 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 there?

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

so this isn't like money is 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 bangs, deep inside secret military bankers. if you don't think bitcoin is already changing the world's concept of money, you haven't been paying attention. remember, mervin, he used to be a senior executive, deutsche bank. his colleagues, one said bitcoin was for lawbreakers and troublemakers. he now runs a group 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 bitcoin. 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. and when it is by bit going, consider it, spend it disappear, check in 7 years. i either give you about advice and cost your weekend or i want a grandkids cold wednesday. 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 cash. hold on, let's go back to where we started. bitcoin was trade, his peer to peer, like 20 cash. that was the kill that a payment directly from you to me. from me to the coffee shop. i have bought a bag of coffee for 2 bitcoin in 2012,

which to day cost me $12000.00 in today's money. that is a deflationary fact. as long as bitcoin keeps doing sudden increases in prices, that's going to stop retail use in its tracks. with bitcoin, you can send $1.00 or $1000000.00 worth of value anywhere in the world. you can do it for free in one philosophy could be described as the coin additional goals. and the other philosophy can be described as bitcoin, as digital cash bitcoin wanted talking with. we've already met the digital gold camp who opposes any changes to the protocol despite the hi fees raja represents the other side of the debate. they wanted a system upgrade. the solution is easy and just increase the size of the blocks from one to 248 megabytes. so that more transactions fit into them. this will lower the fees, and people will start using bitcoin as cash again. but most of the community

disagreed. so bitcoin, jesus had become bitcoin, judas, and there was a split into 2 separate bit coins. every 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 that coin than anything else. and that's big going cash i think is fraudulent to say that and causing people to, to buy big cash when they actually want to buy big coin as it is going to be casting is from issue shalicia. and i'm been told the army d for the english was the doc, the call from bitcoin b cash. because tom depression,

he had some his sierra energy nuclear. those in your face to bid, going to call them coming up the chain explained and predicting the future of the internet for the how do you state control information? how does the narrative employee public opinion? how is this is in the can we blame the story? the listening post dissect the media. we don't cover the news. we cover the way the news is cover a

1956 to nicea gained independence from france. but the brutal power struggle broke out between the b to this is monica. and the countries nationalist prime minister al jazeera world, tells the story the downfall of the dentist folded the paper can read to him the decision issue. the last monarch, austonia power and politics on a just 0. ah, i'm carry johnston, heron, doha, the top stories on al jazeera, tens of thousands of search and rescue personnel working into kieran, syria, to free survivors, trapped under rubble. after monday's earthquakes, at least 7600 people have been killed across both countries and thousands more

injured. as will settle, has more from carmel marsh in turkey. and i see where there's here, the lack of electricity, food, water, people are really struggling here. now feel of the said the, the, the afford the frantic of food on the way. this is just one of the scenes now because turkey, there are hundreds or so i see that or really with that, i did that a matter that are going on. but here, the people are still waiting to be rascal, but they're not the only ones. probably. there are some other life people still maybe hands of them still believe this robert. and according to the officials, just in common mirage. more than 1000 people are missing serious foreign ministers or to european countries to send his country aid after the earthquakes. despite western sanctions, aid organizations say

a humanitarian crisis is emerging in a country already struggling after 12 years of civil war years present. joe biden is set to deliver his 2nd state of the union address and around half. now's time. all eyes on capital hill is mine is expected to address a deeply divided congress, economic uncertainty, and policing before the war. and ukraine and tensions with china are also expected to be on the agenda. barden goes into the speech for the flagging approval rating of 42 percent, worst ever 2nd year, approval rating for you as president. and a giant b p has announced record profits. british energy company recorded $27700000000.00, an annual profits driven by a search and energy prices. since russia's invasion of ukraine figure is more than double back to the previous year. pakistan's former present, perverse sheriff, has been laid to rest following a funeral ceremony in karachi. the sheriff died on sunday at the age of $79.00

after long illness. he lived in dubai, it since 20. 16 sheriff ceased how in a qu, in 1999 was forced to resign 2000 we will now rejoin cryptic ah, no. i know, i know you want to find out what any of this has to do with this new grip 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 john lee was a google engineer, he wanted to foster and lighter version of photoshop's crypto currency. and was one of the 1st to experiment with the open source software. the actual quoting terms of the code differences between the clan, my claim was actually pretty trivial. and what, 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 kinds. some of the early adopters, like charlie made fortunes. soon there were hundreds of coins made by cryptographers copy cats and con men. there's a coin for bloggers, a currency for online gamers. one was 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 quinn and cryptic currency advocate. just 900 years old vitale. it was on a mission to make money. programmable comparison might be the quiz, like a spreadsheet, and it's area is like a spreadsheet with macros. using analogy, syria allows you to store crypto currency and computer code in the same secure box . use how

a smart contract might work just in the price. let's say i bet charlie that a light coin will be worth $200.00 on january 1st of next year. we each put an ether into a box along with a small contract, a simple program that automatically checks the price of light coins on that future date. if i'm right, the money goes to me. if i'm wrong, it send to charlie. a smart contract is neither smart nor contract. it's a dumb program. and once you understand the all it is, is a program that clarifies a lot of stuff and the word contract there is in the meaning of finance. most financial arrangements are pretty simple and clear. cut a bed 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 $1000.00 to 2000 either for one bit going. and that's how we're going to raise money. it worked, botanic figured out a way to fund this year and project, and it made his investors very rich. this new model for fundraising soon had a name, an initial coin offering, or i c o. i b as an i c o sound similar, but they have, they're not things similar. the only thing similar about them is they help you raise money. i p o is 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 buying their stock. i seos,

it's pre product. you have maybe a couple of people on the team is just the white paper. and so people are just buying into trust into faith that this is something that will exist. the goal here is like, ultimately i like to say 8 year olds building their own financial systems. yeah, but what if some of these a deals are also scamarus? 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 raised millions in ether,

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 gonna 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 climax was he will only care about the klein. everything else is clean. sure. there are tons of used with projects that will never work. but maybe i was a bit too hot 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 the big point, maximum of

a block change i feels 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. revolutionized health care industry and the automobile coffee is what you're saying is a maximal point of view. you are speaking about from a perspective of, of a cult. my problem is that you hijack the movement of a technology that is far greater and has far more potential than just these individuals. there's all of the different things that you could use blocks in for, right? and so people have almost like different ecosystems. and then when you see it's almost like a neighbor luminary process, right where the block chains fork and they have the same as histories but a dop to different environments. and we see dislike ever increasing level of diversity in 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 disregarding the nature of evolution. meanwhile, the big corporations happen starting crypt currency. and they think that bit cons underlying database is where the magic is, the more on the board room block chain, not bitcoin. back in germany, my friend oliver keeps tabs on the men in suits. he used to be one of them. i lead underneath him and he's up to me taking off his bus, besides, by an auto asked and on 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 carlos 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. they both exist. meanwhile, facebook announcer crypto currency for the 2000000000 uses. such a system might be more efficient than a public doc chain for this. a downside. some governments banded within weeks. right now the way it is a paper that's being shifted around that doesn't make any sense that infrastructure needs to be or why occupying wall street when we can build a new one on the block chain instead in the future of decentralized finance stock certificate corporate bonds insurance policies, property, deeds, mortgages, all can be turned into crypto tokens and may tradable 247

what's, what's more exciting than tokenize, security 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. that's actually much bigger of an opportunity because it represents something totally new. my name is dr. jim grain and i'm a co band and the chairman of palo ledger and we use the blood chain to enable electricity trading energy asset financing and carbon market. this award winning australian company wants to take us to a common free economy, foster. gemma has identified a problem often nearing the tentative and it means that if there is solar panels, the apartment isn't really incentivized. so i'll go back to the 10 benefit by using

the tenant trip to the body corporate using power ledger, the tenant, paste the owner, not the power company for the electricity. if the tenant isn't at home, the unused energy will be sold to a neighbor, lowering their power bill and making a profit for the owner. it actually crates the mechanism to justify investing the capital in. this clever system could also speed up investment in sustainable energy projects by making it real easy to own a piece of a solar or a wind farm. why do i need a block chain for this condo invest in a solar farm without this new fancy tech? the block chain acts as a kind of an income register, any tokenize in 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? photoshoot anti bank invention. it's all being used by the banks to more money, faster and buy big business to track supply chain. i use 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, oxford on the faculty. i mean, i can, i'm accessing the ologist 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 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 at 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 us 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 the she had a bunch of questions, but her 1st one was how did i managed to convince all the governments of the oral

political, the internet? and i said, well, except for the handful of us that were actually working on the internet, nobody else really thought it was a very good idea answering 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 win by default on it, one through attrition, by basically being better simpler, easier to deploy them all of the other scalable and more scalable. and it had a lot of competition from phone companies and then there's email, email ira, that's really neat. e mail was perhaps the internet 1st collab. then in the early ninety's, tim berners lee introduced the world wide web as a 20 page proposal. soon,

there were browsers that made it more accessible and user friendly for the general public. i think that the internet is going to be one of the major forces for reducing the role of government. and the one thing that's missing, but that will soon be developed is a reliable e cash. still few understood the potential of this new tech from people that thought it would just be the world's greatest library to some of the early cypher punks who are the direct fathers of crypto. and certainly bach train type ideas who thought much as to day. 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. it, which was the internet is full of criminals and pita files and pornography ours.

and it's too dangerous to use our 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. 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,

co opted by trillion dollar companies and then fundamentally transformed how we shop work and communicate speaker's corner in london's hyde park for 150 years this has been a safe place to stand on a soap box to sell your 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. well, almost any, one of 65 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 use us in check

. so sorry to break it to you, but there is no longer world wide web. welcome to the sprint in it. to be fair, some of the censorship is to prevent terrorist recruitment or to stop violent moths from hurting people. but i think government control over the internet has gone just a little too far. hold on, 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 meta data than a theory of 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 behemoth at the center extracting runs 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 giants 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, 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 are on the block 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 trying to dramatically magical things that will happen. trust may be expensive, but it's also short supply all around the globe. people have been losing faith in the media institutions and governments, this technology with a big brains and big egos behind it could fix one of society's biggest issue. but just how different are they from our current political, financial, and business leaders?

are there systems really resistant to corruption immune to manipulation and worthy of our trust? maybe that's why the best bet is on the only project without a figurehead. bitcoin doesn't care about human drama, bad press, or what anyone thinks? yes, sure. it hasn't succeeded as a global currency yet, but in the past decade it has been the world's best performing financial asset. so we're back to where we started. a genius who vanished where she being gone from day coin, they coined it's really a very decentralize and networking currency. he was intelligent enough to know that a system without a father was going to be much more robust than a system with a father. no father, maybe, but without leaving a will. the 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 this a trade or is it digital gold? a totally new asset class, a bet against the bank. us and insurance against inflation, protection from corrupt politicians, and a weapon against the state. maybe the end of money as we know it. for some entropy nurse, it represents a shortcut to fund their dreams, a platform for pharaoh finance, which is why incumbents fight it. some say public block chains are just slow and useless databases, while big business is busy building private block chains to boost efficiency. or maybe this decentralized technology is a new protocol layer for the internet. upon which we can build a better web to dethrone 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. that's a never ending list of crypt. hoping ideas isn't this a bit too much to ask of a 9 page document? yes, sure. the internet and the web started out as white papers too. but it took decades before its infrastructure was built, became user friendly, and ready to scale globally. we kind of domesticate the wild potential of, of technologies into what's familiar and we dramatically underestimate or under imagine what that technology may eventually do. it'll be the uses 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 wires that move their money quicker. don't know about the software that moves this movie or that picture. what will move them

a services that will make the days a little brighter, that show us a little lighter and their lives a little richer? ah. the hello. they will not in north america, and much of the weather action is happening in the deep south and got a clutch of storms that are intensifying, bringing the threat very heavy rain strong winds. and of course, tornadoes to the likes of texas, mississippi, louisiana. it'll slowly spread its way further east that system bringing some snow

as well across parts of the great lakes. very heavy falls to come here. some of that snow edging up towards eastern areas of canada and new england by thursday. a lot of warmth, however, have come back into the east coast. the temperature in washington dc. well above the average, 17 degrees celsius on thursday. and we'll see that heat reflected across the west coast of the next few days. temperatures on the up here, lots of quiet conditions that to be found. the wintry and wet weather, confined to british columbia in western canada. now there is quite condition spread from the south west into much of mexico, just michelle was a victim southern areas you know g quiet for much of the caribbean and the rest of central america. we find the wet weather down in south america, those thunderstorms continuing to plague coastal areas of brazil that he's going to spread from chile, an argentina, into southern areas of brazil we what warnings out the temperature in puerto allegro hovering close to $35.00 degrees celsius. ah,

the february, what i just need on rhino is in tigers, in the pool, post to the brink of extinction, one or one he's discovered how they're 14 happy turned around. a year old from russia, evasion of ukraine. 0 looks at the impact office where events might lead from here . rigorous debate, unflinching question up front, muslim on tail cuts through the headlines to challenge conventional wisdom. nigerians vote in what's likely to be the most closely contested election in the country's history from those that wielded to those who confronted people and paula investigate the youth and abusive power around the world. february, on a jesse talk to al jazeera, we ask, what should they not be more over signs, perhaps, of foundations like yours? we listen when it comes to diversification. we don't do it in order to get wrinkled,

the rational energy source. we meet with global news makers. i'm talk about the store restock matter. on al jazeera, the american people have spoken, but what exactly did they say? is the world looking for a whole new order with less america in it? is the woke agenda on the decline in america. how much the social media companies know about you, and how easy is it to manipulate the quizzical look us politics, the bottom line? ah ah, you're joining us now as us present so biden gets set to deliver his 2nd stay to the union address. all eyes are on capitol hill is by this.