i worked out, is there english since its lordship, as a principal presenter and as a correspondence with any breaking the story, want to hear from those people who would normally not get their voice is heard on the international news channels. one moment i'll be very proud of was when we covered the depaula quake of 2015, a terrible natural disaster on the story that needs to be told from the hall of the affected area. to be there to tell the people story was very important at the time . ah, a hello there, i'm mr. z attainder hall with the headlines here on al jazeera, the death toll from monday's earthquakes into kia and syria has passed. 15000 rescue operations are still ongoing. as you can see here in gaussian tap near the border, took his president's recipe better. one has acknowledged shortcomings in his government's

response, but insists it would have been impossible to prepare for such disaster was eleger. over then on the 1st day, we experienced some issues, but then on the 2nd day today, the situation is under control control. we will never allow our citizens to be left on the streets. we'll put our moscow people not to give the provocateurs an opportunity only pay attention to the statements coming from the disaster management tool authority to take the time of unity on solidarity. meanwhile, twitter has been restricted across tokyo, following online criticism of the government's response to the disaster. and chris, as the platform was being used to spread disinformation some from fake accounts, the critic say the restrictions will hamper efforts to get aid to people. and hashtag a name of what's not from istanbul, opposition figures, non governmental organizations and academics are blasting. this parrot restriction, one person tweeted, he's an opposition figure on a day when communication sees lives. how can there be restrictions?

what kind of ineptitude bear in mind that turks have been using twitter to try to locate their loved ones? the government has not responded directly to this allegation, but since i arrived on monday, the government has been banging the following drum saying, do not rely on quote, propaganda or misinformation on social media. only turn to official government sources. altura says chief executive elan mosque, twisted about the restrictions and to kia. he says that the company has been informed by the texas government that access to the platform will be re enabled soon. all across the border in syria rescue is are facing a wide range of obstacles containing cold weather conditions and lack of equipment . limited access. the impact of the earthquake has been made west that by years of war, ukraine's president brought him his lance. he has met french president emanuel macklin

and the german chancellor left schultz and paris. shortly after a visit to the u. k. the ukrainian leda has called for the delivery of attack jets and heavy weaponry. as soon as possible, investigations say there is strong evidence that rushes president that m a fusion approved supplying the missile system used to shoot down a militia airlines plane in 2014 and made 17 was down of east in ukraine and all 298 people on board were killed. earlier this year, a dutch court convicted to russians and a ukrainian rebel for their roles and the crash. but investigators say they'll be no more prosecutions. russia has always denied involvement. local officials in eastern democratic republic of congo, say peacekeepers have killed 8 civilians after an attack on a u. n. convoy the attack happened, the kenya routine camphor, internally displaced people near goma. a un delegation has canceled its trip. in response, anger has been growing over the failure by security forces to stop attacks by the

end 23 armed grew a heat wave and chilly south central region is threatened to intensify. forest fires that have already killed 26 people and left thousands, firmness around 5605. right. as a batting, 81 blazes which is feared, could reach the capital. santiago, columbia, and mexico have sent personnel and equipment to control the fires. thousands of people in sri lanka has been protesting against recent tax rises. their trade unions are angry. that work is phases squeeze on wages during an economic crisis that seen food and fuel shortages and rising inflation. google's parent company alphabet lost billions of dollars and market value. it's shares dived 8 percent. investors were not happy when they swore google's ad for it's a i powered search assistant bod, but jack bought, gave incorrect information when answering a question and, and sport european champions, rail madrid will face al hello of saudi arabia, in the final of the football club. wild cup in morocco on saturday re i'll beat

egypt, allowed me 31 and wednesdays, 2nd semi final. while those were headlines, the news continues here on al jazeera after crypto fia to stay with us. ah, this is my, i want winning documentary what the coin 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 increase by the fact of 8. but then fell by 75 percent and with it, many other 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 speak egos for champions crypto currency claim. they are building a crypto utopia. magical things will happen. it's something called block chain technology, and it just my change your life and they really couldn't complete with, if not even take down the facebook and google's in the amazon. my name is tossed and huffman, and i'm going to put some of these claims to the test. forget all the hype will explore the true potential of this new invention. see who is already using it, making it really easy and see all the paper and a piece of us all of our a lisa. and go deep into a secret bunk of that holds billions in bitcoin. but they are those who want to kill it. join with me and introducing

a bill to outlaw crypto currency so that we nip this in the bud or change the world with it. well, come to ground 0 in the battle for the future of internet. web 3 point. oh, they wanted a science fiction dream. what actually did was goes full screen disaster while people were not willing to learn after not willing to admit, they were ra rossi. telling me that i have cruise is that's just what he 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 called cytosine,

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, 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 he 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 bit 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 decoy addresses. each one is

a virtual safety deposit box that only you can open with your key. and there are more addresses in this virtual vault and 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, 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 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. let'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 and being paid in bit claim 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 a bit coins 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. the use case if you want to trade in things the government doesn't want to trade in. that's david polite way of saying illegal stuff. in 2011,

most of my partner colleagues were saying 3 things. so that the drugs pornography on the silk road was a black market on the dark weapon where buyers and sellers use big coins to fly under the radar of the authorities. it had 1000000 uses until the f b. i showed up and shut it down. they caught this guy for running it and confiscated the coins held 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 or the banking system. and let's not forget, the block chain is a public ledger. it's actually been quite useful for uncovering crimes. a former federal prosecutor named catherine hon. she was the one who discovered that there were a couple of federal agents that are, were pilfering them. bitcoin said that 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 branching 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 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 invasion per year. but if you can see isn't stable, you might be a trillion paper and be dead broke i robin bye bye one year on the same part of ours. and now my parents are she

branches there and i remember growing up in my childhood, so my parents lose everything free time. first because of a huge evaluation and because of hyperinflation. and the last time because they government confiscated all banker bosses, i think that to they, they are, 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 more than mccracken, we think of finance, we think of banking, we think of money in terms of the experience and perspective of 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 courses that is very open and permitted. and every single country that is unfree has restricted for band crypto currency status. this is the

berlin wall fil 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 feel things they can stop open source software. i look 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 an 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 bed is critical for major oil and other transactions. and it is, it be 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 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 lobbyist, 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 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 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 not be online. it's inside the vault, the voltage inside a bunker, usually deep underground. our main one is in switzerland near the commission military bunker. i just hate to see it for myself. even though it took months for us to get cleared for a tour, we were met by christopher smart, a former military commander who runs the place. and their representative from sample kristof said, the gods would rather shoot us than show us around. i hope he was kidding. they need to bring in the material 3 other side of the personal log. first up, one more check of our i. d 's, a pet down for weapons or any other monkey business and gear inspection. even the boss was searched. it took nearly an hour to get my team through security,

but it was worth it. no other film crew has been allowed access. we are the largest custodian 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 security apply to all of the data crystal protects here. not just for

sample. we cannot talk too much about it because it's a privacy quite to what is down, where are we allowed to film? they're mel the doors that remain shut and security measures. we weren't allowed to see. and some of those checks may be via metric and during the i kind of fingers brains can and the fingerprint scanner also make sure that you are alive, but you the cut someone's finger and you're just using it to open the gate. so you have a direct these on sample of 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 day that we 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 data. yeah. think it's been invite, but it is money. a lot of money. and this is why this is more a bank than, than a day. but let's do a quick recap. we now have billions of dollars worth of data secured and digital banks deep inside secret military bankers. if you don't think bitcoin is already changing the world's concept of money, you haven't been paying attention. remember, mervin, he used to be a senior executive, deutsche bank. his colleagues, one said bitcoin was for lawbreaker and troublemakers. he now runs a crooked, to fund out 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 whole above the general public. in america, the younger generation already starts to trust this new asset class. and when success, bitcoin may reach a $1000000.00 per coin, i would say the biggest financial mistake you can make right now is to own an amount of bit going that you cannot afford to lose because it's super risky. you may lose. the 2nd biggest financial mistake you can make is not to own any because you put one percent of your net worth in 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 as 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 sell $1.00 or $1000000.00 worth of value anywhere in the world. you can do it for free, and one philosophy could be described as the coin additional goals. and the other philosophy can be described as bitcoin, as digital cash bitcoin wanted talking with. we've already met the digital gold camp who opposes any changes to the protocol despite the high fees, roger represents the other side of the debate. they wanted a system upgrade. the solution is easy and just increase the size of the blocks from one to 248 megabytes. so that more transactions fit into them. this will lower

the fees, and people will start using bitcoin as cash again. but most of the community disagreed. so bitcoin, jesus had become bitcoin, judas, and there was a split into 2 separate bit coins. every revolution is followed by the counter revolution, which is usually a purge of the original revolutionaries. when i 1st started covering the space, every one was united in that struggle against the establishment. now the industry has grown so much that they are competing parties, propaganda machines, conspiracy theories looks a lot like politics. the biggest fight within the bitcoin ecosystem is over at the moment, is who has the right, 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 because 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 a just going to be casting from issue shalicia. and i'm been told the army

d for the english, rosie doc, the call from bitcoin b cash. because tom depression, he had some, his seattle energy nuclear, those in your face to bid coins could call them coming up the chain explained. and predicting the future of the internet for the i speak him stories from african perspectives. i'm a marine biologist of business. swim short documentaries from african feel. i'm going to do that from south africa, ethiopia. and nigeria. we been to cobra from stuff in this classroom. she saw this as my, and my role box africa direct on al jazeera when the news breaks.

when people need to be heard and the story told incredible what more people were injured or killed. this is music on the recording with exclusive interviews and in depth reports are much more than $2000000000.00 have got my gross jitters going budget deficits. and what sprint al jazeera has teens on the ground to bring you more award winning documentaries and live lugs router feed. lou. hello again. i'm his darzy at hey ando. how with the headlines here on out a 0. the death toll from monday's earthquakes, inter kia and syria, has now passed. 16000 rescue operations are still ongoing. as you can see there, from these live pictures, in ghazi ends at me at the border with syria or turkish present recipe. bardon has

acknowledged his shortcomings, and the government's response, but insist that would have been impossible to prepare. the thought to disaster was early bird offer done on the 1st day and we experienced some issues. but then on the 2nd day today, the situation is under control. closer we will never allow our citizens to be left on the streets with our moscow. people not give the provocateurs an opportunity only pay attention to the statements coming from the disaster management tool $30.00 to days, the time of unity on solidarity and across the border in syria. rescuers are facing a wide range of obstacles, including cold weather conditions, a lack of equipment and limited access. a situation has been made worse by years of civil war, ukraine's president on me as lensky has met french, president, emanuel macro and german chancellor earl of shots in paris. shortly after a visit to the u. k. the ukranian leader has called for the delivery of attack jets and heavy weaponry. as soon as possible. a heat wave and chill is south central

region is threatening to intensify. forest fires that have already killed 26 people . and if thousands, homeless around $5600.00 firefighters are battling ac one, blazes where it's, it's feared it could reach the capital. santiago, local officials and eastern democratic republic of congo. say that peacekeepers have killed 8 civilians after an attack on a u. n. convoy the attack happened at the county, a routine near camphor, internally displaced. people near near goma un delegation has canceled its trip. in response thousands of people and sri lanka had protested against recent tax rises. their trade unions are angry that workers faces squeeze on their wages during an economic crisis that seen food and fuel shortages and rising inflation. google's parent company alphabet lost billions of dollars and market value. it's shares dived 8 percent. investors were not happy when they saw google's ad for it's

a i power search assistant board. the chat box gave incorrect information when answering a question. well those are the headlines. tell me more news here after part 2 of crypto fia, like i know, i know you want to find out what any of this has to do with this new crypto p, revolutionary internet. we'll get that promise, but 1st we need to go from bit coins, original block chain to hundreds of block chains. back in 2011. when charlie lee was a google engineer, he wanted to foster and lighter version of photoshop's crypto currency. and was one of the 1st to experiment with the open source software. the actual quoting names of the code differences between the clan, my quote was actually pretty trivial. and what does that mean in time? like i would say like, $44.00 or 5 hours. light claim was one of the 1st alternative trip to currencies or

all coins. some of the early adopters, like charlie made fortunes. soon there were hundreds of points made by cryptographers, copy cats and con men. as a coin for bloggers, a currency for online gamers, one was in an empty and even one for bangs. but can this invention and lease something even more powerful than digital currencies. back in 2014, i met the kid who knew how to do it. i know if it's alex varnerin, co founder of the big magazine, founder of a theory, and then just general pick one perfect currency advocate. just 19 years old vitale . it was on a mission to make money programmable comparison, might they be quick like a spreadsheet and is here 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 vet

a light coin will be worth $200.00 on january 1st of next year. we each put an ether into a box along with a small contract, a simple program that automatically checks the price of light coins on that future date. if i'm right, the money goes to me. if i'm wrong, it said to charlie, a smart contract is neither smart nor contract. it's a dumb program. and it, once you understand the all, it is a program that clarifies a lot of stuff and the word contract there is in the meaning of finance. most financial arrangements are pretty simple and clear. cut a 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. no, 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, metallic, figured out a way to fund these here in project. and it made his investors very rich. this new model for fundraising soon had a name, an initial coin offering or i c o. i b as an i c o sound similar, but they have nothing similar. the only thing similar about them is they help you raise money. i fios, you don't do until you have a company until you have revenue and you have users and you actually prove to the public investors. and this is a valuable company that's worth investing and it's worth buying their stock. i seos,

it's pre product. you have maybe a couple of people on the team, it's just a white paper. and so people are just buying into trust into faith that this is something that will exist. the goal here is like, ultimately i like to say 8 year olds building their own financial systems. yeah, but what if some of these a deals are also scam us? so let's say i'm trying to do it. i feel, and i curtis my contract where i create a 1000000 coins. and one of the transactions is that if you send me $100.00, i will send you that many worth of 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 etha 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 gonna work. can you define for me one coin is i think it's just a derogatory term. people use on coins that they don't like for eco maximus, people on the care about the client. everything else is claim sure. there are tons of useless projects that will never work. but maybe i was a bit too harsh on i. c o. democratizing start of finance can be a good thing. we've also many legit companies raising capital. over the years i've met many founders who have real offices with people trying to solve real problem. but the big point maximus 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 rock, st. revolutionized health care industry and the all of them, all the coffee is what you're saying is a maximum of this point of view you are speaking about from a respective of, of a cult. my problem is that you hijack your 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 blocked in for, right? and so people have almost like different ecosystems. and then when you see it's almost like an illusion or a process right where the block chains fork. and they have the same as histories, but they down to different environments and tedious like ever increasing level of diversity, a number of block chains. that the idea that there's like one block chain going to

be one block and it's going to be fit for everything. it's almost like disregarding the nature of evolution. meanwhile, the big corporations happen starting crypto currency. and they think that the kinds underlying database is where the magic is, the more on the bathrooms, block chain, not bitcoin. back in germany, my friend oliver keeps tabs on the men in suits. he used to be one of them. i left the name and he said up to me taking off his bus, besides by the court, and asked alon by being vague this on a b m. w is looking at using the block chain for the future fleet of electric cars to interact with public transport. lufthansa wants to see if the block chain can better track parts and maintenance and dodge telecom, using smart contracts to negotiate terrace for roaming costs. with other telecoms,

if we can store traits, certificates, and shipping documents on the block chain, you can check to see where those organic carlos really came from. who grew them for pack them and ship them. you might wonder, what's the point of a block chain if it's controlled by a company? well, i compare it to the open internet versus company owned internet. they both exist. meanwhile, facebook announce a crypto currency for the 2000000000 users. such a system might be more efficient than a public doc chain, but there's a downside. some governments banded within weeks. right now the way it is a paper that's being shifted around that doesn't make any sense that infrastructure needs to be or why occupying wall street when we can build a new one on the block chain instead in the future of the centralized finance stock certificate. corporate bonds, insurance policies, property, deets, mortgages, all can be turned into crypto tokens and may tradable 247

what's much more exciting than tokenize security, the promotional businesses where it's just equity that you perhaps around is totally novel digital securities that you couldn't do before. right? novel use cases where you could kick back flash on a continual basis. i think some examples of this that we're seeing our maker down finance, which is finance point that's actually much bigger of an opportunity because it represents something totally new. my name is dr. jim a grain and i'm a co founder and chairman of powell 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 doing 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 if it. but using

up all the tenant will pay the bill to the body corporate using power ledger the $10.00 and paste the owner. not the power company for the electricity. if the tenant isn't at home, the unused energy will be sold to a neighbor, lowering the power bill, and making a profit for the owner. it actually crates the mechanism to justify investing the capital in the 1st by this clever system could also speed up investment in sustainable energy projects by making it real easy to own a piece of a solar or a wind farm. why do i need a block chain for this 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. and you would receive the income associated with that amount of. no bankers don't very much like being cut out of the cash flow loop. so they took

another look at mister commodus, curious little white paper, and they've recently been spending a $1000000000.00 a year in block chain research. isn't it? on a photoshoot anti bank invention is now being used by the banks to move money faster and buy big business to track supply chain ah, crypto currencies. digital tokens, public block chains, private block chains. where is the killer app? well, adoption of new technology often follows old trends. my name is mark francesca. i'm here at oxford years oxford. i'm the 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 and innovations, and we know that that arc from invention to innovation, takes all the time. it takes a lot of work. some of those innovations eventually become commercially viable. but can this technology ever become as pervasive as the internet? i came to the computer history museum in the heart of silicon valley to find out. so you're looking up the console for sage, which was probably the 1st computer network. there were $23.00 centers around north america to warn against soviet bombers and they were waiting for world war 3. the u . s. military and some american universities asked this guy to create a new kind of network to connect their separate networks. this young girl got up and she had a bunch of questions, but her 1st one was how did i manage to convince all the governments of the oral

politic bill, the internet? and i said, well, except for the handful of us that were 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. ira that's really neat. e mail was perhaps the internet 1st collab. then in the early ninety's, tim berners lee introduced the world wide web at a 20 page proposal. soon there were browsers that made it more accessible and user

friendly for the general public. i think that the internet is going to be one of the major forces for reducing the roller government. 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 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 of today that it would create kind of a commons that was outside of the direct control of normal laws and governments and the media. they didn't quite know what to make of this new thing either. but sure enough, they found juicy stories about the dark side of it, which was the internet is full of criminals and peter files and pornography offers

. and it's too dangerous to use your credit card on it. it's full of scams within the exact same story. now, we envision technology as if it were autonomy, us as if it were simply outside of human and social experience. what we see are technologies that become shaped by commercial interests, by a political and regulatory infrastructure by actors who are acting for many reasons, right? what do you want to remember, bob? the big telecoms wanted his thoughts on a little idea that were kicking around. or 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 on it? i caught myself by an executive at a large information company. it's probably in 1990, if they could buy the internet. and i remember asking them, well, why don't you buy the world economy and you can have everything. once you buy the weather and you can control that, it took a few decades and hype cycles, but the wild internet was eventually domesticated coopted by trillion dollar

companies, and then from the mentally 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 anyone on the planet. oh, wow. well, almost any one of 65 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 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 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 toshi, turn money into code, coders, just letters and numbers, which is speech, right? so money now is speech, which is a pretty powerful idea if you think about it. but if bitcoin is this uncontrollable on sensible technology, can the block chain also enabled global free speech? in some places it already does. one chinese student try to report a sexual assault and was silenced by her college. but she knew that she could attach a message into the meta data than a theory him transaction. so she spent $0.15, and now her letter outlining her story. and the threat she received is on the public assyrian block chain, where it will remain unchangeable,

forever. the early crypto pioneers wanted to democratize money. finance. 2 point. oh if you will. but now the believe us in the block chains have their eyes on a bigger price. they want to decentralize everything. 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 google's and the amazon that we know that's a 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 than 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 with 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 cost is quite expensive. what is the 1st time that we saw some technology that can eliminate the cost or reduce the cost of trying to dramatically magically things that will happen. trust may be expensive, but it's also short supply all around the globe. people have been losing faith in the media institutions and governments, this technology with a big brains and big egos behind it could fix one of society's biggest issue. but just how different are they from our current political, financial, and business leaders? are there systems really resistant to corruption immune to manipulation and worthy

of our trust? maybe that's why the best bet is on the only project without a figurehead. bitcoin doesn't care about human drama, bad press, or what anyone thinks? yes, sure. it hasn't succeeded as a global currency yet, but in the past decade it has been the world's best performing financial asset. so we're back to where we started. the genius who vanished where she being gone from day coin, they coined it's really a very decentralize and networking currency. he was intelligent enough to know that a system without a father was going to be much more robust than a system with a father. no father, maybe, but without leaving a will. the kids 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 has an insurance against inflation protection from corrupt politicians and a weapon against the state. maybe the end of money as we know it. for some entropy nurse, it represents a shortcut to fund their dreams. a platform for farrah finance, which is why incumbents fight it. some say public block chains, august slow and useless databases, while big business is busy building private block chains to boost efficiency. or maybe this decentralized technology is a new protocol layer for the internet. upon which we can build a better web to d, thrown 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. hopin ideas isn't this a bit too much to ask of a 9 page document? yes, sure. the internet and the web started out as white papers too. but it took decades before its infrastructure was built, became user friendly, and ready to scale globally. we kind of domesticate the wild potential of, of technologies into what's familiar and we dramatically underestimate are under imagine what that technology may eventually do. it'll be the uses may be billions of them who will adopt this technology without even knowing what a block chain is or how it works. because here's the thing. the average 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 shows

a little lighter and their lives a little bit richer. ah . depleting the issues of the day, the 5 largest polluters that the world are in india, jump into the street. they made their money on coal. they made their money on the field. convincing those folks, no, we need to go. green is very, very difficult. giving all of voice we chose to do because we wanted to escape war and violence. when you humanize this narrative, you allow people to really understand the reality in breakdown misconceptions. the

st on al jazeera hello and they say we have got some quiet to whether to come across to care through syria, just around the quakes out bands of cloud making. the way further east was still want to snow. flurries coming back in most are around the caucuses, but as far as the quakes out is concerned, it should be lossy dry light winds. it is staying cold. having said that, and certainly we are looking at widespread overnight, frost temperatures running around 5 or 6 celsius below the average has that will be the issue over the coming day, snowy weather, making its way across northern pass oberon, more snow coming to know the pass of afghanistan as well. temperatures in kabul, struggling to reach 2 degrees celsius in the heat. the day we have got light winds . meanwhile, across the arabian peninsula, improving conditions here in doha was floating light temperatures around 21 degrees celsius. now the winds picking up around the mediterranean central parts of the med,

over the next few days. so some live the storms around malta, shanicea, northern areas of libya, st rash of showers, longest bells upright. algeria to looking very settled over the coming days, very unsettled to across at eastern side all southern africa, more big showers, coming through here. we'll see some live storms gathering into mozambie all the way up into a good part of canton there. ah. the 1956 to nicea gain 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 camera to the decision issue. the last monarch of tunisia, power and politics on

a jessina. the latest news as it breaks possible. she's her about a kilometer in that direction. you are in military, it's good now with detail coverage, where israel has the palestinian economy on the verge of collapse or decade from around the world. this proto thought expanded too broad, a social movement, not just again, increasingly a different time, but also going to the continuing cost of living crisis. ah, mass burials and syria as hundreds of thousands of earthquake survivors in the civil war torn country. a disparate for health. 72 hours on dramatic risk is continuing to kill, but hood fights for more survive as a mid freezing temper.