the building where a party full of teenagers help launch a music style using funk, soul, jazz and rock plastics be created an entirely new south west since become a multi $1000000000.00 industry. the universal hip hop museum currently under construction seeks to preserve the movements roots, residents around the globe. the challenges there with me. so robin, in the reminder of all the top stories, find the boxes increase the found the bodies of 18, suspected migrants in that area hits by major while fi. now the place has been signed by gale force winds. will just be around the house up there with a fly stall to it has completely burned down. there is nothing left now the far is moving downwards towards the rest of the village. for example, if we could have another fire only fire,

that's what we could see. the wind was so strong that no one could do anything, no one to control ortiz of possibly reopened the daunted l straight shipping rate, that it was closed to allow firefighting aircraft to scoop up more to the dallas of forest fire raging in the west. and province of timelines, parliament has voted full set that we send to be the nation's new prime minister. it ended once a political deadlock. his appointment was of the stuff to be formulated text instead of what, what time and time was immediately sentenced to 8 years in prison. 6 children and 2 adults will be investigate as being trump through the cable. costs has been to 300 meters above ground in northern focused on the they've been left dangling for hours of to one of the cables. have snapped special, impressive estimate to, to this toll leaders from bricks, nations meeting in south africa. the use of the us dollar and trade between them is decreasing. breaks is a block of nations with great economies that include pizelle,

russia, india, china, and south africa. lead is amazing for a 3 day summit in johannesburg, prison seating thing, and i discussed the ongoing conflict between russia and ukraine and its significant impact on developing economies in africa and elsewhere. we both agreed on the importance of dialogue and negotiation between the 2 sides of south africa, we are encouraged the tristan shooting thing has wrote come the peace submission to russia and ukraine, initiated by african leaders managing, changing money. we have good democratic and defenders through great talk cheap and sacrifice and do have continued to explore a path of development that is aligned with our own nation of conditions. all that

we have done. and the final analysis is to enable our people to lead the prosperous life. however, some countries i'm willing to use up to such a minute position, have arbitrarily blocked and suppressed emerging market countries and developing countries. curbing cool, that's what he's developing well and tripping up whoever is catching up, as the african union has suspended the job for all activities and his ethical countries to refrain from giving any legitimacy to a school lead is, is it a button says the military to pose democratically elected president, how bad policy the a you is also warning against any interference in african security if asked by outside. is that the versus voc, the best we group has appeared in bodies comfortable? because if can you provision posted a video online saying that the presence of his group on the continent to will make advocate more free? it's a says public address since he left a failed verbally of the game. russian ministry meet us in june to have donald trump's co defendants and in the election into favorites case of surrendered in the

us state of georgia. john eastman was the full but us president's lawyer and scott . toll is a republican po watcher, that amongst 19 accused of conspiring to over to the results of the 2020 presidential election results in the states. under the sink, these refugees all kept together inside the building and the libyan capital, tripoli. they say that in desperate need of assistance and accusing the you and refugee agency of not taking out the reaction to help them. so i'm hoping stuck in the country. see yes, while others are recent arrivals from sort of the full reach in the united nations as documented, 800 cases of serious human rights violations. as the telephone seized power of contest on 2 years ago. the abuses include torture, false disappearances and killings of full. but government officials and security personnel, yes. can follow the ministry denies allowing any extra traditional chemical those where the headlight is about to go and use in 60 minutes. but next it's cook top you here and i'll just

the this is my award winning documentary. what bitcoin broke chains and web 3 that was 1st published in 2020. since then, a lot of things have happened. global inflation rates have sold. the price of bitcoin 1st increased by the fact of $8.00, but then fell by 75 percent and visit many of the smaller crypto currencies, imploded. more recent fee. notable crypto exchanges and books and protocols had to shut down. and it's what appears to be outright from h. i made a feeling 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 big egos for champions crypto

currency claim they are building a crypto utopia. magic those 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'm going to put some of these claims to the test. so get all the hype will explore the true potential of this new invention. see who was already using it, making it really easy and simple for people to on a piece of a solo file or what we saw. 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 won't change the world with it. welcome to ground 0 in the battle for the future of the internet. with sweet 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. i'm telling me that i have no clue. that's just what you don't support free speech. you're doing support, big calling your anatomy of it for this is bigger than the internet, the higher and edge the renaissance, the industrial revolution. this affects the entire world, the. okay, let's not slow you 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 ledger, usually managed by a bank. only a small portion exist 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. what are you use? credit cards, debit cards, paypal or bank transfers. they're all just pluses and minuses in different digital letters. cuz way there's almost new need for physical money in our daily lives. a string, the financial crisis in 2008 mysteriously got a cold sitarski nikoto published this 9 page wide paper. it said with big 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 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 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 that, 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 for 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, sending 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 building the bible was some guy in brooklyn who built it in order to buy his 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. she ended cleaning that one of the women had no peace 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 adopters 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 which are cash. david gerad doesn't buy all the height. he's one of the most outspoken critics and skeptics of broke 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 in that's david's polite way of saying illegal stuff. in 2011, most of my partner colleagues was saying 3 things here. so with other 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 pro 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 cos, 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 a bit coins 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 that 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 and 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 not care about it in facial pay. yeah. but if you currency isn't stable, you might be a trillion and paypal and be debt brooks. a rubbing, but that one. 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 the reservation then because of hybrid inflation and the last time because

the government confiscated all of bunk, their 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 $1.00 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 occurring since that is very open and permission. 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. so 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 to currency represents elizabeth's tests for governments. it's reveals how much your government believes in the, in the fundamental freedoms and, and human rights. because if they don't trust their own citizens to have control

over their own money, that's a lot about the government 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 not your keys. 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, your coins will be stolen in

a 2nd. or worse, you trust a 3rd party like mount docs and 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 as a family had them money stolen by their own government? well, maybe that's why he built the fort knox of bitcoin security sample. 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 d's 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 a tour. the we were met by christopher walsh by a former military colanda who runs the place. and the representative from south kristof said the gods would rather shoot us than show us around. i hope you're kidding. they need to bring in 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 with secuity, 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 costs. 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 cannot 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 kind 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 life money these days. so yes, it's a speed invite, 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 your chance and bones and bonus. bitcoin is dangerous nonsense. fall too 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 use that you're going to make is not the phone any, because you put one percent of your net worth in bid 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 gave you by the advice on cost you a weekend or i want a grandkids, go the one seat 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 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 cashed. 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 cache, a good point, a lot of the kids that we've already met the digital gold camp who opposes any changes to the protocol. despite the high 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 feed 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, every one 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 big 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 in causing people to, to buy big on 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, according to the says, the english why the doctor does, he calls them bitcoin because she calls time depression he has, has um, his sailors ranging naturally 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, the closing steve, the stuff scaling. hi, messing talbot said with success comes the 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

on the pair, this journey is taken by countless refugees fleeing danger. to many meet service perhaps worse than death is the package of survive, the syrian refugees seeking officers, searches for disappeared assist my may so a witness documentary on adjust the

the the i know, i know you want to find out what any of this has to do with 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 that whole. she's crypto currency. and was one of the 1st to experiment with the open source software. the actual quoting terms of the, like the code differences between the client, 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 clean was one of the 1st alternative crypto currencies or all the coins. some of the early adopters, like charlie made fortunes. soon the hundreds of coins made bankrupt. tons of us copycats and con man a vessel coined for blog as a currency for online games. one was in an empty and even one for bangs of kansas invention least 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 border in co founder of i big when magazine founder of his area and then just general pick, pick one and chris, the currency advocates. just 19 years old, vitaly was on a mission to make money. programmable comparison might be between as like a spreadsheet and is there is like a spreadsheet with macros. using all analogy ac liam allows you to store, accept a 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 small contract, a simple program that automatically checks the price of light coins on that future date. if i'm right, the money goes to me. if i'm wrong, it send to charlie 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 a list of the room network inside of the room network. there's this asset called ether, and we're actually going to be selling us, 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 these even in 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 both help you raise money and i've, 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 into faith 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 put together project in a white paper, i can raise money like a lot of money. some people hawking new coins 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, coyness? i think it's just

a derogatory term. people whose use on the coins 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 as 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've also many legit companies raising capital. over the years i've met many solve this with real offices with real people trying to solve the real problem. but that's a big point mex, unless 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. and the auto mall is it's what you're saying. it's a maximum of this point of view. you're speaking about a, from a perspective pulse of a cult policy. my problem is that you 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 some people have the, almost like different ecosystems. and then what do you see is almost like an evolutionary process right with block chains, fork. and they have the same as, as trees but a daft of different environments. and we see dislike the ever increasing level of diversity and number of block chains. so the, the idea that there's like one block chain going to be one blocks and then it's going to be 5th verifying it. it is almost like, disregarding the nature of evolution. meanwhile, the big corporations happen starting crystal currency. and they think that big coins on the line data base is whether magic is the model in the board rooms lump chain, not bitcoin back in germany,

my friend oliver keeps tabs on the men in suits. he used to be one of them as fast as far as the name and diesel documentation. auburn is pending and flushed as well as if i didn't cause an auto accident on by being the get this on a, b m. w is looking at using the block chain for the future fleet or electric cost to intact with public transport. lufthansa 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. i've a cartilage really came from full groove them for pack them and we ship them. you might wonder what's the point of production if it's controlled by a company? well, i compared to the open internet versus company own entrance. they both exist. meanwhile, facebook announcer crypto currency for the 2000000000 uses. such

a system might be more efficient than a public drop chain, but this a 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 occupying wall 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 made tradable 247 what's much 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 case where you can check back factual on a continual basis. i think some examples of this that we're seeing in our major down finance which is finance for and that's actually much bigger of an opportunity

because it represents something totally new. my name is dr. jim a great and i'm a co founder and the chairman of howell ledger, 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 if there is solar panels, the honor of the apartment isn't really incentivized to put in solar panels about this because the 10 benefits but using up for the tenant will pay their electricity bill to the body corporate using power. let you the 10 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 change for this car to invest in a solar fund without this new fancy tech chain access that kind of asset, right? just an income register, and entice, you know, i was in 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 is now 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 into 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 build 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 cache. 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, as, as if it were simply outside of human and social experience. but we see our technologies that become shaped by commercial interest, by a political and regulatory infrastructure by actors who are acting for many reasons . right? yeah. where do you want to remember bought the big telecoms,

one of his thoughts on a little idea that we're kicking around the meeting. we're 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 or start a fight with anyone on the planet. well, almost any, one of 65 countries studied. 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 a world wide web. welcome to the spending it to be fair. some of the censorship is to prevent terrorist recruitment or to stop violent months 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 a money now is speech, which is a pretty powerful idea if you think about it. but if big client is this uncontrollable on sensible technology, can the block chain also enabled global free speech? in some places it already does. one chinese student tried to report a sexual assault and was silenced by her college, but she knew that she could attach a message and to the meta data of unnecessary m 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 bigger price. 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 sunday, uh, compete with, if not even take down some of the big tech times 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 broke chain. but most of these prizes have come crashing down. many of the former heroes have fallen. some of them 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 our 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. as a genius, well,

vanished with the shame being gone from big kline big kline is really a very decentralize and networking courtesy. he was intelligent enough to know that the 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, i'll just slow and useless databases. while big business is busy, building private block changed to boost efficiency. or maybe this, the centralized technology is a new protocol layer for the internet. upon which we can build a better web to de, thrown 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 it'll take a ups before the infrastructure was built, became user friendly and ready to scale globally. we kind of domesticate the wild

potential of technologies into what's familiar and we dramatically under estimate or under a match and what that technology may eventually do. it'll 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 bit move them money quicker. don't know about the soft bath, it 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 and their lives a little richer. the the

african narrative from african perspective to be some one voice good. this seems to be a good fight. short documentary term, an african still make is from kenya. nigeria and want to talk some more conservation from joy into the traffic and feeding the game applicant direct on just harmful passages are increasingly affecting our lives. we've terrible consequences. a documentary asks whether we've learned any lessons from the h. i. b, in the fight against corporate 19. we ignore the global side to port products. people want to coast time of 10 desks

on notice. when the news breaks, parts of this community are still under water when people need to be hard for deepening political crisis. here is only exacerbating social divisions and the story needs to be told. we've said franchise for decades made state less for the goods. with exclusive interviews, an in depth reports, there's prostration. people are in desperate need of algae 0 as teens on the ground to bring you more award winning document trees and light news. the weather brought to you by visit cutoff. the 1st things 1st, it's a talking forecasts virtually is capital santiago. some forecast models are hinting about half a years worth of rain over 48 hours. storms locked into the southeast of brazil and we've got a hot wind blowing through a song, see on your temperature up to 37. that is well above average. but then wind shift

out of the south, and so we're down to $24.00 by friday, top end of south america. it is actually fairly quiet here because most of the energy is being drawn up through the caribbean, where we've got tropical storm franklin, looking to make landfall just west of dominican republic capital santo domingo. so for both dominican republic and haiti, this is going to be bad. we could see about a month's worth of rain in under 24 hours. a tropical depression rolled through the south west coast of texas and to mexico. we can trace out that rain right there. and for the us desert, southwest things have turned much quieter after tropical storm hillary road through here did inject a lot of moisture into the atmosphere for the pacific northwest. that was weather also in canada. that should help with a wildfire burning in west colona, british columbia, providence meantime, for the storms in the midwest through to the great lakes. gotta tell you some of these could be severe over the next little bit. that's it for me,

bye. for now. the weather brought to you by visit castle. how do you think control information? how does the narrative improve public opinion? how is this as intended? this and we flaming the story? the listening post, i think the media, we don't cover the news because of the way the news is covered. with more than 1400000 people in the us and all that was most populous country. millions of young people across the country are unemployed and unable to imagine a meaningful future. these students would take any job they can find. but getting a job seems like a distance education and the it isn't enough to solve the hardest others democratic challenges. authorities are struggling to persuade couples to use contraceptives. many women only all for sterilization, often having large properties on zillow, begum,

and her husband trying to have 10 daughters and one son. none of the children have been educated beyond 5th grade the racist owing to a democratic defrost of how the country fast will determine the lives of future generations. the firefighters discovered bodies of 18 people believed to be migrants in greece, while launch wildfires have been badging for days. the thoughts of robin what you know, just their life, my headquarters here in the hall, also coming up far as far as the north west. some took your thoughts as a suspension of maritime traffic through a vital shipping rate between your agent.