by 2021 less than 2000 remains. east creek is a very extraordinary. this is what it so one of the house is not ensuring that no one else can continue. less things change future generations to the animals that once drives to the mama. no, we don't exist, and this aquarium the nor carland or how these are the top stories on out as era. the head of plas, hi, policies i to thomas and will become thailand's new prime minister. m p 's box has been a vote held in the just the past few hours either on tuesday, full not prime minister texas should've walked returned home was immediately census of h is in prison, tourney chang has moved from bangkok. we understand that mister stretch may even

be endorsed. give the royal endorsement this evening, which will be in the time. then we'll wake up to a fully functioning new prime minister tomorrow morning on wednesday, which would be very swift. indeed. he won with a very sizable majority, 482 votes in both houses. he only needed 376. army come on de is with helicopters of trying to rescue 8 people trapped and a cable call in northern pack of stone. 6 children and 2 adults have been left dangling for hours off to one of the cable slaps. that happened when they were 300 meters in the above. i moved mountain valley. the japanese prime minister says treated radioactive voice a could start to be released in the pacific ocean from 1st day onwards. despite objections, both at home and abroad, you're a new field. what stock says it's safe to dump, moving a 1000000 tons of cooling, water from the destroyed nuclear power station in focus. cima. the communion has to

spend these uh, from oil activities and his urging old countries to refrain from giving any legitimacy to its crew leaders and sandy a month since the minutes the deposed the democratic, the elected president for him advisor b a u is also warning against any interference in african security affairs by any outside is including less than res and private ministry companies. hundreds of sydney's refugees, a company outside of you and building and the libyan capital, tripoli. i say that in desperate need of assistance under choosing view and refugee agency, i'm not taking adequate action to help them. i don't feel joining reg is about to begin searching for oil and gas off the coast of lebanon. the cash drop country is banking on striking at which to alleviate his deepening financial crisis. expiration. got the green lights off to a maritime board. a deal was signed with israel last. yeah. the president of south africa says he has similar views with china on the expansion of the bricks group of

countries. so run the opposed to agree to chinese president. she didn't paying for the brick summit to johanna as bag datas from brazil and india are also discussing expansion of the alliance. it already accounts for 40 percent of the world's population. and the costa of g. d. p. yes, presents, has met the victims of wall 5 in hawaii and has touched to help them for as long as it takes to advise me best to be on of molly 2 weeks after at least 100 people were killed over 800 others remain missing, finds being criticized by republicans for they say i had slow response to the crisis. we are focused on what's next. as rebuilding the longer long term rebuilding for long term and doing it together to help get us back on our feet to rebuild the way we want to rebuild. by making sure your voices are heard by respecting your traditions, by understanding the deep history, remaining the sacred ground and establishing your community not to change his

character but re established. donald trump says he will surrender to prosecute his in georgia on 1st day. jobs has set his bail at $200000.00 off the for me, us presence agree not to threaten or intimidate witnesses, trump and $18.00, including his foreman, lawyer, rudy giuliani face, racketeering and conspiracy charges. over time to toys you 20 presidential election defeat. trump has dismissed the charges as politically motivated. russia says as being a new wave of ukrainian drug and attacks overnight and cross the goals just outside the capital. a drain was shot down, crushing into a high rise apartment block and cause minus damage with new casualties. report has and firefighters, and those increase the baffling dozens of all fires which are being found by strong wins. these 2 people were killed and firefighters injured in the everest region. those headlines do stay with a script type. here is next. the,

the this is my award winning documentary lot bitcoin book chains and web 3 that was 1st published in 2020. since then, a lot of things that happened, global inflation rates have sold. the price of bitcoin 1st increased by the fact of $8.00, but then fell by 75 percent and visit many of the smaller crypto currencies imploded . more recently, notable crypto exchanges and book trans protocols had to shut down and it's what appears to be outright from h. hi made a feeling about the history of money banking and bitcoin buckle up going. they said it's going to be a bumpy ride. and now some of the big brains and big egos to champions crypto

currency claim, they are building a crypto utopia. magically things will happen is something called block chain technology. and it just might change your life and they really could compete with, if not even take down the facebook, something google's and the amazon. my name is tungsten 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 has already using it, making it really easy and simple for people to on a piece of a solo 5 or a weeks up. and go deep into a secret bunk of that holds billions in bitcoin, but they are those who want to kill it. join with be an introducing a bill to outlaw crypto currency so that we nip this in. the bud won't change the world with it. welcome to ground 0 in the battle for the future of the internet

width suite point all they wanted a science fiction dreams. what they actually did was, builds full screen disaster block people were not willing to learn f. we're not willing to admit they were wrong telling me that i have no clue. that's just what people have support free speech. you're doing support bitcoin, you're an enemy, a good point. this is bigger than the internet, the higher edge, the renaissance, the industrial revolution. this affects the entire world. okay, let's start slowly with the basics of money and it's creation. the total value of all the world's money is about $120.00 trillion dollars, which you probably didn't know is that each new dollar is created by governments and banks as debt, which needs to be paid back by someone in the future with interest. that's why

there isn't enough money in the world to repay all that debt, and there never will be. oh, end, almost all of the world's money is already digital. just entries in a ledger, usually managed by a bank. only a small portion exist has 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. what are you use? credit cards, debit cards, paypal or bank transfers. they're all just pluses and minuses in different digital letters. because way there's almost new need for physical money in our daily lives . a string, the financial crisis in 2008 mysteriously got a cold. so touchy nikoto published this 9 page wide paper. it said that the coins open source software. we can create or money without banks or governments. the vis new nerd money called

crypto currency is created and stored in computers. and before long there was a growing fan club. most of the guys like ranch of you today, he's a polarizing figure, but big then he gave away thousands of coins to kick stopped the movement and they all called him declined. jesus, i think that for many years he brought more people to be going than anyone else and we would forever be grateful to him for doing that. when i was a kid, i was reading all these science fiction books. they were talking about how the world is going to be when we have this, like none of us 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 had been reading about as a kid is finally here. so i got so excited about it. i heard about is about 10 in the morning. and i was planning to go to work then that day, but i didn't, i stayed home the entire day. reading about it didn't leave. i stayed up all night

that night. reading about it stayed up all night the next night or even deep down bed rabbit. holding on to the point of physical exhaustion office, i called a friend of mine that please help me. i am so sick. can you bring me to the hospital? yeah. branch of the big bad by the big claim, but like so many others funnel truly one of the most exciting inventions ever in the entire history of human time. but how does it look? when my friends ask me to explain? well, i often start with this analogy. imagine a bank vault where you have a safety deposit box. the key opens what are the boxes where you can securely store physical valuables, like gold coins, and did clean their digital teeth. think of them is very long passwords or your private key gives you access to a wallet which unlocks billions. if you need to clean addresses. each one is a virtual safety deposit box that only you can open, which is your key. and there are more addresses in this virtual vault in adams in

the universe. the doors to these boxes are transparent. you can see inside them. here's one was digital money point 21 bit coins. setting them from one box to another is what's called a big queen transaction. we'll explain that later. but for now, just remember that these digital coins can only exist inside these transparent address boxes can be copied and can't ever leave the vault. and this vault is owned by news, single entity. you don't need permission from a government, a bank, or a corporation to use it. the foremost early adopters of the coin, it was all about global p to appeal electronic cash room. 77 invalid was one of the very 1st businesses to accept big coins as payment for physical things. v as in bo, this back in 2011, there were no more about wallets, right?

so you had to go there, bring your laptop type in this long address, you risk losing the money if you didn't type it correctly. so the 1st guy who built the bible was some guy in brooklyn who built it in order to buy spear move his phone instead of his computer. so what if those slow and expensive middle man with them multiple edges could be replaced by a giant database, synchronized over the internet. that's the big idea behind bitcoin. and it's run by the centralized global network of powerful computers and regular laptops. this immutability is the 1st we're a little bit clean, it means no one can ever change what it was once we caught it in the block chain, off, spend the same coin twice. and that's also called censorship resistance. and it's critical to bitcoin being used as real money award. winning journalist laura sion tells me a story about women blog posts, and i've gotten this done being paid in bitcoin in that one of the women having a piece of husband and saved up her big coins and eventually was able to divorce

him because she was able to control her money when she earned the big coins. in my 1st film, the early adopter said that this kind of financial freedom for everyone was just around the corner. girls 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 files, went to a cache. david gerad doesn't buy all the height. he's one of the most outspoken critics and skeptics of block chain technology. it's not very good as a payment system. this small claimant use case. if you want to trade in things, the government doesn't want you to trade ins. that's david's polite way of saying illegal stuff. in 2011, most of my talking to colleagues was saying 3 things here. so without the drugs pornography on sale, the silk road was

a black market on the dock with 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 called 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 still on the bills all the banking system. and let's not forget the block chain is a public let you, that 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 since that coins that the government had obtained from this old grow case for their own gain. and what was interesting was she got a tip that there might be one of one agent that was doing this. but from looking at

the movements on the block chain itself, she realized that there were 2 people. the prosecutor could see those big coins being moved. and with the dirty cups, try to sell them for dollars. they got busted. but what makes big coins with stealing? why do they have value at all? let's go back to where big queens are stored in transparent digital deposit boxes, protected by strong cryptography. they can never be copied or leave default because any transaction of any bitcoin down to a 100 millions fraction is recorded in the block chain for trinity. 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 incident number perfect, digital copies of the movie 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 scares. if you could count

all of these virtual coins, you find about 18000000 of them today. the, 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 in growing an unlimited amount of dollars versus a very limited supply of big coins. you do the math if you use euro so dollars you might ok. i bought it in facial pay. yeah. but if you currency isn't stable, you might be a trillion and paper and beat that brooks a rubbing but though, and yeah, and assigned by the far as indeed how my parents are she branches there. and i remember growing up in my childhood, i saw my parents lose everything 3 times. first because of a huge differentiation than because of hybrid inflation. and the last time because

the government confiscated all of bunk, that bosses, i think that they, they 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 one credit we think of finance, we think of banking, we think of money in terms of the experience and perspective of western european or develop 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 crypt occurrences that is very open and permissive. and every single country that is unafraid has a restrictive for band crypt of currency status. this is the building wall fil a powerful symbol of government trying to control it citizens. and that brings us to

the big question, can governmental bangs ban between? 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 a 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, oil and other transactions. and it is the announced purpose of the supporters of crypto currency to take that power away from us for so 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, is that since a lot about the government says very little about crypto parts. as you see, the reason why some governments and most things are threatened by this technology is simple. you private key and you want it can replace your bank account. the network is run by software, and it's currencies made and maintained by computing power and electricity. it can't be manipulated by central bankers, wall street, northeast all politicians. but with new freedom comes new responsibility. if you can handle the keys at your very point, if you don't use it, it's not your big point. your keys dropping point dr. keys, masturbate point. your keys, your big point? naturally, he's not survey point. got that. if you lose your key, you will never be able to access your clients again. and if someone hacks your computer, but you still have those passwords, you'll coins will be stolen in

a 2nd. or worse, you trust a 3rd party like mount docs in the early days for f t x recently, and you find out that they didn't. these are a few trust millions of crypto currency. investors have lost the assets by storing the coins, one centralized exchanges. and remember how wins has a family had them money stolen by their own government? well, maybe that's why he built the fort knox of bitcoin secuity example. most of our 7000000 customers are in emerging market in countries where there's problems with the car and see we have explosions in activity like venezuela right now, derek and we develop the system of wallets where we have 5 private keys for each one of our between addresses we keep those private keys in an offline server that has never been on line with narvie on line. it's inside of all the voltage inside a bunker, usually the underground. our main one is in switzerland, the natalie commission military bunker. and i just had to see it for myself,

even though it took months for us to get cleared for to the flu. a met by christopher walsh by a former military colanda who runs the place. and the representative from sample kristof said the gods would rather shoot us than show us around. i hope you're kidding. they need to bring the material 3 other side of the personal look. first up, one more check of all i do use a pet down for weapons or any other monkey business. and given inspection or even the boss was searched, it took nearly an hour to get my teams for security, but it was worth it. no other film crew has been allowed access. we are the largest custodian, a fit going in the world because a lot of the largest holding,

there's no words use us or security room. it has it that 10 percent of all the clients are stored here. and in the fall of the secret locations, but unfortunately, i can't confirm any of those numbers from the amount that we are getting a lot of benefits. but those quite proves, flooding prove. but on the other side, you're facing a lot of additional cost. like maintaining 7 independent bank of power supplies, the labyrinth of tunnels deep into the mountain is interrupted by nuclear great dos. it's a level of security applied to all of the data kristof protects you. not just for example. we can not talk too much about it because it's the freight, the c quite the weather is down there right now. i'll be allowed to assume that about the,

the doors that remain shot and security measures we weren't allowed to see. and some of those checks may be biometric, including the i kind of finger prints con and the fingerprint scanner. also make sure that you're alive. so do the and cut someone's finger and you're just using it to open a gate. so you must have a post the these on samples of the actual service, but if you've ever wanted what triple code and ccs dream about, it's sitting somewhere down here unplugged from the internet. but there is absolutely no way 0 way to attack the, the bank that we use on the cold storage side. but here's my question. why do i need the cold offline service to be in a set amount? and i've had to be in my basement. that's why we started raising you basically. you still can't be sold, right?

so, so this is like money these days. so yes it's, it's been invited, but it is money at the end, a lot of money. and this is by this data center. he is more a bank then then in vegas, let's do a quick recap. we now have billions of dollars worth of data secured and digital bangs, deep inside secret military bunk us. if you don't think bitcoin is already changing the world's concept of money, you haven't been paying attention. remember moving fused to be a senior executive deutscher bank. his colleagues, one said bitcoin was for law, frank, us in trouble make us, you know, run script to fund auto mall to our research shows that the trip to markets are gonna probably be, be worth about 8.7 trillion in 2027, which is a 50 x from today. exactly. most financial analysts say you better stick to a chance and bones and bonus. bitcoin is dangerous nonsense. fall to risky as

investment to 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, uncoordinated to financial markets. so how about the general public in america, the younger generation already starts to trust this new assets us. and when success, bitcoin may reach a $1000000.00, the calling 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 of a risk and you may lose. the 2nd biggest financial needs that you're going to make is not to own any, because you put one percent of your net worth in be going most people can afford to lose one percent of the network. and if i am right, it's going to be more than a 100 percent of your networks. so with a non my theory and exposure,

you'd change your life. no. would you would spend with your on a romantic weekend with your wife. say, sorry, we're not going to go out this weekend. i'm going to just vibrate, going, concierge spend it disappear, checking 7 years. i either give you by the advice on cost you a weekend or i want a grandkids, go the one seat in 2017. 18, there was a big debate about whether bitcoin should increase the block size. some argued that more transactions should be enabled, so it would be cheaper to use it as currency black group ultimately for the change . which means that they split off to do their own version called bitcoin cache. hold on, let's go back to where we started. bitcoin was created p as a p electronic caching that was the q 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 today cost me $12000.00 and today's money that is

a deflationary effect as long as between keeps doing southern increases in prices. that's gonna stop retail use in its tracks. with bitcoin, you can send $1.00 or $1000000.00 worth of value anywhere in the world. you can do it for free, and one philosophy could be described as the coin additional goals. and the other philosophy can be described as the coin as digital cash between one of the kids that 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 $1.00 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 be coined, jesus had become the client, judas,

and they also split into 2 separate big 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, everyone was united in the struggle against the establishment. now the industry has grown so much that they have competing parties for begin the machine's conspiracy theories looks a lot like politics. the biggest fight within the bit quantico system is over at the moment. there's 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 coined than anything else. and that's big calling cash. i think it's fraudulent to say that and causing people to, to buy it. they can cash when they actually want to buy big coins. they as a desk guns and the cash thing is for mature, flushed and fall in between the army. a comfortable di says the english why the doctor does, he calls them bitcoin because she calls time depression. he has has um, his sailors or anything that could add those in your face to bid coins because of

them coming up. the model of the chain explained in predicting the future of the internet and the it's one of the biggest clubs in south america. but it's great. this arrival is just a few blocks away. a mutual dislike between funds from a class device sustained over generations. most book junior support his opponents of news clip colors and ethics, few to rich business put the funds who make football when i was just the coverage of africa is what i'm most proud of. every time i travel, whether it's east or west africa, people stop me and tell me how much they appreciate coverage. and our focus is not just on their suffering, but also on

a more realistic and inspiring story. people trust to tell them what's happening in their communities in at p a and i'm biased and as an applicant, i couldn't be more proud to be part of, you know, the down or a kind of indo how these are the top stories on al jazeera. i'm a come on. those helicopters are trying to rescue 8 people trapped in a cable call in northern pac hassan. 6 children and 2 adults have been left dangling. all is off to one of the cables, snaps what happens in the 300 meters in the above a remote mountain valley. national exhaustive management agency is coordinating the rescue efforts the head of plants,

high policies set to tell us and will become timelines. new prime minister m p 's site has been a vote health in just the past few hours a day on tuesday, full of 5 minutes attacks and should've worked with 10 time and was immediately sent to serve 8 years in prison. any time has moved from bangkok, as we understand that mister stretch may even be endorsed. give the royal endorsement this evening, which will be in the time. then we'll wake up to a fully functioning new prime minister tomorrow morning on wednesday, which would be very swift indeed. he won with a very sizable majority of 482 votes in both houses. he only needed 376. now for communion has suspended media from or activities and his general countries to refrain from giving any legitimacy to leaders of the crew that is almost a month. since presence mohammed by zoom was ousted by the military, e. u is also a warning against any interference in african security affairs by any outside is

including memories in private ministry companies. hundreds of sydney's refugees, a company outside of you and building and the libyan capital, tripoli. they say that in desperate need of assistance that are choosing the you and refugee agency of not taking adequate action to help them an off showed running where it gets about to begin searching for oil and gas. off the coast of less than cash strapped country is banking on striking at which to alleviate his deepening financial crisis. the presence of south africa says he has similar views with china on the expansion of the bricks group of countries. so rather opposed to agree to chinese presents, she didn't pain to attend. the brick summit need is from brazil and in general, so in south africa to discuss expansion of the alliance, it already accounts for 40 percent of the both population and a quarter of its g. d. p is uh, your head science. let's get you back now to crypt, type you on out as era

the loaner. i know, i know you want to find out what any of this has to do. this new crypto po, revolutionary internet. we'll get that promise, but 1st we need to go from big coins, original block chain to hundreds of block chains, back in 2011 when trying to leave us a google engineer. she wanted to foster and light a version of the toll. she's crypto currency. and was one of the 1st to experiment with the open source software. the actual quoting terms of like the code differences between the clan, my client was actually pretty trivial. and what, what does that mean in time? like, i would say like $44.00 or 5 hours. light cleaning was one of the 1st alternative crypto currencies or all the coins. some of the early adopters, like charlie made fortunes. soon they were hundreds of points made by cryptographers, copycats and con man vessel coined for bloggers. a currency for online games. one

was in an empty and even one for bangs. but can this invention or least something, even more powerful then digital currencies, back in 2014, i met the kid who knew how to do it. i, i live it's alex border in co founder of i big when magazine founder of his area and then just general pick, pick one you group, the currency advocates. just 19 years old. vitaly, who was on a mission to make money programmable comparison, might be because like a spreadsheet and is there is like a spreadsheet with macros. using all analogy ac liam allows you to store crypto currency and computer code in the same secure box. here's how smart contract might work and size. let's say i bet charlie that a light coin will be was $200.00 on january 1st of next year. we each put an isa into a box, along with a smart contract, a simple program that automatically checks the price of light coins on that future

date. if i'm right, the money goes to me. if i'm wrong, it send to charlie smart contractors neither smart nor contract. it's a dumb program. and a once you understand the all, it is a program that clarifies a lot of stuff and the word contract there is in the meaning of finance. most financial arrangements are pretty simple and clear. cut a bad with charlie. your home loan and insurance policy. just 2 parties and some form of exchange of value based on a set of rules called the 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 middlemen to all charge high fees. proponents say that if we use to smart contracts, we could tell the bankers lawyers escrow agents and wall street finance guys to take a hike. most of what we're doing is we're saying we have is that the room network

inside the room network, there's this asset called ether. and we're actually going to be selling use, or 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 all the money. it worked, botanic figured out a way to fund the field and project, and it made his invest is very rich. this new model for fundraising soon had a name and initial coin offering or i, c o. i b as in ice geo sound similar, but they have their nothing similar. the only thing similar about them is they put help you raise money. i, i, i fios, you don't do until you have a company until you have revenue until you have users until you've actually proved to the public investors. if this is a valuable company that's worth investing and it's worth buying their stock, i seos, it's pre products. you have maybe a couple of people on the team is just a white paper. and so people are just buying into trust in to face that this is something that will exist. the goal sir, is like,

ultimately i like to say 8 year olds building the financial systems. yeah, but what is some of these a deals also scam us? so let's say i'm trying to do a i c o and i curtis my contract where i create a 1000000 coins. and one of the transactions is that if you send me a $100.00, i will send you that many worth of points. 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 new clients didn't actually exist. this handsome chap is the graphic design of the book very nicely. you actually they just posted a photo of ryan cost me another project, raise millions in isa, 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 scan me or just not going to work. can you define for me one queen is i think it's just a derogatory term. people whose use on queens that they don't like for the climax, most people on the care about. they claim everything else is claim sure there are tons of use this projects that will never work. but maybe i was a bit too harsh on. i seals, democratizing start of finance can be a good thing. they will also many legit companies raising capital. over the years i've met many founders who have real offices with real people trying to solve the real problem. but the big point maximus, i'm a block change i seos i. e o s t o's small contracts on easy them. that's all just a waste of time. very small, the staff, blockchain size, round and slice through a health care industry, n t, all. oh,

cool. is what you're saying is a maximum of this point of view you are speaking about from a perspective of, of, of cult. oh, you see. my problem is that you, off hijacking a movement of a technology that is far greater and has far more potential than just these individuals. there's all of these different things that you could use blocks in for, right? and so people have the, almost like different ecosystems. and then where do you see it's almost like an evolutionary process, right? where the block chains fork and they have the same as, as trees but a daft to different environments and we see dislike the ever increasing level of diversity and number of block change. so i think the idea that there's like one block chain going to be one blocks and it's going to be 5th, verifying it. it is almost like, disregarding the nature of evolution. meanwhile, the big corporations have been starting crystal currency. and they think that big

cons on the line data base is whether magic is the model on the board rooms. block chain, knock bitcoin back in, gemini, my friend oliver keeps tabs on the men in suits. he used to be one of them as fast as they're always under name and diesel documentation. auburn is pending and flushed as well as if i didn't course an alter aspect on by being vague at this on a, b, and w is looking at using the block chain for the future fleet or electric cost to intact with public transport, roof tunzia and wants to see if the block chain can better track pots and maintenance, and dodge, telecom is using smart contracts to negotiate terrace for roaming costs, with other telecoms. if we can still trade certificates and shipping documents on the block chain, you can check to see whether it's organic off of carlos or really came from full groove. them full pack them and we ship them. you might wonder what's the point of

production if it's controlled by a company? well, i compare it to the open internet versus company own entrance. they both exist. meanwhile, facebook announced a triple currency for the 2000000000 uses. such a system might be more efficient than a public doc chain, but that's the downside. some governments banded within weeks. right now, the ways pieces of paper that's being shifted around that doesn't make any sense that infrastructure needs to be or why occupy want street when we can build a new one on the block chain instead in the future of the centralized finance stock certificates, corporate bonds insurance policies, property dates, mortgages, all can be turned into christo tokens and may tradable 247 what's, what's more exciting than tokenize securities, operational businesses, where it's just equity that you pass around is totally novel digital securities

that you couldn't do before, right? novel use cases where you could kick back partial on a continual basis. i think some examples of this that we're seeing in our major 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 grant, and i'm a co founder and the chairman of how a job, and we use the block chain to enable electricity trading energy asset financing and calvin market. this award winning australian company wants to take us to a common free economy. foster jenna has identified a problem upon the building, often building the tenants, and it means that every solar panels, the owner of the apartment isn't really incentivized to put in solar panels about this because the tenant benefits but using up for the tenant will pay their electricity bill to the body corporate using power, let you the $10.00 and paste the owner, not the power company for the electricity. and 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. so it actually crates the, making the them to just the, by investing the capsule in the best buy. this clever system could also speed up investment in sustainable energy projects by making it real easy to own a piece of a solo or a wind farm. why do i need a block chain for this conduct, invest in a solar fund without this? and you fancy tech chain access that kind of asset right? just to an income register and entire cannot assume the asset. it becomes tradable on an exchange. you my are 2 or 3 solar panels of a 1000, you know, you know, as in the sofa and you would receive the income associated with that amount of items. you know, bank as don't very much like being cut out of the cash flow loop. so they took another look at mr. nica motors, curious little white paper. and they've recently been spending a $1000000000.00 a year in block chain research. isn't it ironic, such as anti bank convention,

isn't all being used by the banks to move money, costa, and buy big business to track supply chains. the crypto currencies digital tokens, public chains, private block chains. where is the collab? well, adoption of new technology often follows our trends. my name is mark francesca. i'm here at oxford. yours oxford on the faculty. i mean, i cannot make sociologist by training interested in how large scale infrastructure changes. so great to see you of the 9. yes. i know mark teaches a class on innovation in system building. it tells me what must the line 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

a lot of time and takes a lot of work. some of those innovations eventually become commercially viable. but kansas technology as a, becomes 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 centers around north america to warn against soviet farmers, and they were waiting for world war 3, the u. s. military and some american universities. aust, this guy to create a new kind of network to connect the separate networks. and this, the young girl got up and she had a bunch of questions, but the 1st one was, how did i manage thinking this all the governments of the world to let us bill the internet? you know, i have said well, except for the handful of us that we're actually working on the internet. nobody else really thought it was a very good idea. and so you don't think it was

a lead anywhere. and, you know, we pretty much had free running room. yes, that's the man who cooling vender, tcp ip about 50 years ago. that's the original academic paper. you can think of tcp 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. it one through attrition by basically being better, simpler, easier to deploy even all of the all scalable and more scalable. and it had a lot of competition from phone companies. and then there's email email i heard that's really neat. e mail was perhaps the internet 1st collab. then in the early ninety's, tim berners lee introduced the world wide web as a 20 page proposal. soon, the web browser 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 text from people that thought it would space the world's greatest, a library to. some of the early cypher punks who are the direct fathers of crypto and certainly bach chain type ideas who thought much as today, but it would create kind of a commons that was outside of the direct control of normal laws and governments and the media. they didn't quite know what to make of this and using either, but sure enough they phone, choose the stories about the dock side of it, which was the internet is full of criminals and p to files and pornography hers. and it's too dangerous to use their credit card on it. it's full of scams. we're seeing the exact same story. now. we envision technology as if it were autonomous. f, as if it were simply outside of human and social experience. but we see our technologies

that become shaped by commercial interests, by a political and regulatory infrastructure by actors who are acting for many reasons . right? yeah. where do you want to remember above the big telecoms? one of his thoughts on a little idea that we're kicking around the meeting were trying to figure out how they could buy the internet and fix it and kill it. well, why not own it? i called a house out myself by an executive at a large information company. it was probably 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. why don't you buy the weather? and you can control that to. it took a few decades and hype cycles, but the wild internet was eventually domesticated coopted by trillion dollar companies, and then fundamentally transformed how we shop work and communicate. the

speaker's corner in london's hyde park for a 150 years. this has been a safe place to stand on a soapbox to sell your ideas, preach the gospel, bad mouth the king. all promote communism. to day that the world wide web, we can stand on giant digital soapbox and using facebook, twitter, youtube, we can share all ideas, all start a fight with anyone on the planet. well, almost any one of $65.00 country studies, china has the least free internet worse than iran, cuba or syria. a police force of more than 2000000 cyber cops and the world's most sophisticated artificial intelligence system. cheap china. so web content clean and use us in check. so sorry to break it to you, but that's no longer world wide web. welcome to the spend a minute to be fair. some of the censorship is to prevent terrorist recruitment or

to stop violent mops from hurting people. but i think government control over the internet has gone just a little too far. hold on. so toshi ton of money into code code is just the 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 sense of all of 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 and to the meta data and the serial transactions. so she spent $0.15, and now her letter outlining her story. and the threat she received is on the public syrian block chain, where it will remain on changeable forever a li crypto. pioneers wanted to democratize money. finance. 2 point. oh if you will . but now the believe us in the block chains have the eyes on

a big surprise. they want to decentralize everything with 3 point oh, you can, for instance, offer file storage in a way that an amazon does. or that you could offer a search, you know, the way google that is, but do it in a peer to peer fashion with out this, picking this at the center, extracting rents and do it in a way where all the people that are users of that can benefit and they really could someday compete with, if not even take down some of the big tech science like the facebook, something google's in the amazon's that we know that's a tall, tall order. it is, it is, but i mean, who would have thought at the beginning of the internet that would compete wouldn't beat out and carter, it's too early to tell with the projects like these can succeed. but i do like the idea of digital property rights. wouldn't it be nice if companies paid us encrypt the 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 the block chain? we don't need to rely on middle man anymore. it's a trust list system. maybe you recognize some of these logos projects that with a hot stuff in 2019 the following year on emissions of the fi tokens, many of which rose to 1000000000 dollar valuations. and the after that was all about the n f. t hype on the block chain, but most of these prizes have come crashing down. many of the former heroes have fallen. some of them are in jail. bush would be so guys like you will build a better future and we can trust you guys better than the bank because you don't have to trust us. that's the beauty for building a trust with the centralized system that gives power to people. i trust it, it sounds like there's no test, but actually it means we don't need to trust you. i think the better word should be trust to free about why the search or maybe half of all the cost of all the transactions are paid to establish trust. between trading the parties like we're

paying for lawyers, we're paying uh, auditors to a paying you know, please even regulators government to, to build trusts, to ensure everything will be enforced. so trust is quite expensive. bookcase, the 1st time that we saw some technology that can eliminate the cost or reduce the cost of trust to dramatically magically things will happen. trust may be expensive, but it's also in short supply all around the glow. people have been losing faith in the media institutions and governments. this technology is a big brains and big eagles behind. it could fix one of society's biggest issues, which is how different all day from all co and political, financial and business status of their systems. really resistant to corruption immune to manipulation and worthy of all trust. maybe that's why the best bet is on the only project without a figure head. bitcoin doesn't care about human drama,

bad press all what anyone thinks. yeah, 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 with the shame being gone from they claim they claim. it's really a very decentralize and networking courtesy. 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 and i'll fighting over the meaning of his invention. and the inhabitants projecting the fees and the fantasies onto his legacy. for some, it's money for the internet that can replace middleman and bank the on bank and maybe a tool for this a trade or is it digital gold? a totally new assets. us 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 enter pronounce. it represents a shortcut to funds and dreams. a platform for federal finance, which is why incumbent cited some say public love change or just slow and useless data bases. well, big business is busy building private block chains to boost the efficiency. or maybe this, the centralized technology is a new protocol, a, a for the internet. upon which we can build a better web to the throne. the tech giant's 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?

yeah, sure. the internet and the web started out as white papers too. but the 2 decades before the 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 under estimate or under a match. and what that technology may eventually do. it will be the use of maybe 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 why us, but move them money quicker. don't know about the software that moves this movie all the picture. what will move them a services that will make the days a little brighter, that show us a little light in their lives, a little richer? the

the since its inception in 1961. the great fund has been supporting people's livelihoods and over 100 countries, by funding projects in an array of sectors ranging from infrastructure to health and education. these initiatives ultimately help to eradicate poverty and promote sustainable development. the creative women and i decided to start a band with a special touch and the young spirit trailblazing performance credit was

traditional music in the seminary style algae 01 celebration. we mean there's been traditional arrow music to new audiences. and how do we want to project to reach the well, no, certainly syria sisters in some, syria and the rook on i'll just say around floating, stupid stuff. scaling high, smashing tom said with success comes a chance to make a difference. i felt that it was in for, and the idea that there was part of what i have to do is have the opportunity to understand that my journey is bigger than i can actually create meaningful team for my platform. if i choose to do so generation school, it's a new series coming soon on. the spaniel is bracing for

a tropical storm for including to make line fall that will happen on wednesdays. so here's the forecast on tuesday that land fall by the way it looks to be just to the west of dominican republic, capital santo domingo, looking to pick up a months worth of rain in under 24 hours. same goes for haiti. this will be bad for you to it's capital poor to print. same goes for you. months worth of rain in under 24 hours. then we've got this tropical disturbance slamming into the south west coast of texas ne mexico. that too is likely to trigger some flooding. things are slowly beginning to dry off across the us desert, southwest. dr. tropical storm, hillary, but it's injected a lot of moisture into the atmosphere that's troubling northward through oregon, montana. that weather also point into canada. so they should help drop a bit of rain on the wildfire burning in west cologne and british columbia. storms firing up through the upper midwest that eventually that energy eventually moves into the great lakes. these will be violent starts, top end of south america. there's tropical storm franklin, again striking

a lot of moisture from the pacific right across panama. and then we've got somebody of an atmospheric river setting up here. so a stream of rain off the pacific for chillies, capital santiago, lot of rain coming for you. the, [000:00:00;00] the hello i'm 0 venue, it's great to have you with us. this is the news our lives from the coming up in the program today. dangling 300 meters above ground efforts are underway in pakistan to rescue 6 children and 2 adults trapped in a cable car. a thailand has