[000:00:00;00] the . ready ready ready hello, i'm kimberly how can into hi hear your task? stories on al jazeera, the head of the russian mercenary group, wagner is reported to have been killed in a plane crash versus aviation agency says you have given a for goes, it was on a private jet which came down north of moscow. there were no survivors among the 10 people on board allowed 0 is a major, have a reports from the scene of the crash into their region. how do you mean? because what's on the block i lead him in the crisis site is completely closed and

surrounded by various special security services investigations at the lowest at the scene of the crash, 10 victims have been confirmed and there remains have been recovered a few months kind of how gets about that and to shut moments ago we saw a large vehicle that came from the direction of the crash sides. it contained caskets and large boxes that are believed to carry. some of the remains that were found as of records should be a will to the united states now where 8, where public ins hoping to be the next us president have held their 1st debate. but the front runner and folder president donald trump wasn't in milwaukee trees. due to surrender in georgia, later to face racketeering and conspiracy charges to overturn the us 2020 election result there. meantime donald trump's advisor, rudy giuliani has already surrendered in the us state of georgia. the former mayor of new york pleaded not guilty to 13 charges. i am very,

very on the mission. this indictment is a travesty. it's an attack on not just may not just, not just the the who is probably the most prolific prosecutor, maybe in american history, and the most effective may of for sure. that can happen to you. the controversy will release of treated radioactive water from the focus stream at nuclear power plant in japan's begun. despite objections from japanese fishermen, as well as china, some pacific island nations, the japanese government and the u. a nuclear watch drug says it's safe to release for the 1000000 tons of water. used to stop the reactors from melting down as

a dumping in the pacific ocean comes 12 years after the earthquake and the synonymy . north korea says it's failed and it's 2nd attempt within 3 months to put a spice satellite into orbit. but we'll try again in october. the latest launch prompted an emergency warning in japan voting in zimbabwe as presidential and parliamentary elections has been extended by 24 hours after delays at pulling stations opposition parties accused the governing party suppressing votes and rigging the election. so hi, i'm of the almost 14, again the mind giving is evidence that each time that one is only chosen,

but these are things that see a change in the countries that make up the brakes. nations have agreed to expand the size of the roof. south africa says more than 40 developing countries are interested in joining on the 2nd day of their summit in johannesburg, the leaders of brazil, india, china, and south africa were joined by russia's president via video link from moscow. india is become the 1st country to successfully land a space craft through the moon southern pool. the area is said to be home to frozen water, which could prove helpful for future lunar explorations. those are the headlines and a reminder that the news does continue here on al jazeera. after the program crypt, hope you stay with us.

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 so the price of bitcoin 1st increased by the effect of $8.00, but then fell by 75 percent and visit many of the smaller crypto currencies, imploded. more recently, notable crypto exchanges and brooks and protocols had to shut down and it's what appears to be outright from h. i made a film about the history of money banking and bitcoin buckled up 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. forget all the hype will explore the true potential of this new invention. seed 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 3 point. oh, they looked at a science fiction dream. what they actually did was, builds, flows coming,

disaster. people were not willing to learn f, we're not willing to admit they were wrong. i'm telling me that i have no clues, that's just what people have support free speech. you don't support big calling, you're an enemy of this point. this is bigger than the internet, c, r, and age, the renaissance, the industrial revolution. this affects the entire world. ok, let's start slowly with the basics of money and it's creation. the total value of all the world's money is about $120.00 trillion dollars, which you probably didn't know is that each new dollar is created by governments and banks as debt. which needs to be paid back by someone in the future with interest. that's why there isn't enough money in the world to repay all that debt. and there never will be. oh,

and almost all of the world's money is already digital. just entries in a letter, usually managed by a bank. only a small portion 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. this way there's almost new need for physical money in our daily lives. a string, the financial crisis in 2008. i'm a students think i called to toshi nikoto published this 9 page wide paper. it said that the coins open source software. we can create or money without things or governments, the, this new node, money called crypto currency is created and stored in computers. and before long

there was a growing fan club, mostly 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 bitcoin 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 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 a date up all night the next night or he went deep down bed rabbit. holding on to the point of physical exhaustion office, i called

a friend of mine said please help me. i am so sick and 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. key opens what are the boxes where you can securely store physical valuables, like gold coins in good clean their digital keys. think of them is very long passwords. 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 peter. p electronic cache 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 3011, there were no move out wallets, right? so you had to go there, bring your laptop type in, and 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 berlin who built it in order to buy spear move his phone instead of his computer. so what if those slow and expensive made a 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 rule of bitcoin, 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 bloggers and again this done being paid. she ended cleaning that one of the women had a new 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 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 kind of system. there's a small claimant use case if you want to trade in things, the government doesn't want you to trade in vets. david's polite way of saying illegal stuff in 2011. most of my talk, no colleagues was saying 3 things here. so without the drugs pornography on sale, the silk road was a black market on the dock with, 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 critical 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 lecture 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 bit coins that the government had obtained from the self 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 then the dirty cups try to sell them for dollars. they got busted . but what makes big coins with steely, why do they have value at all? let's go back to where big coins are stored in transparent digital deposit boxes, protected by strong cryptography. they can never be copied or leave default because any transaction of any bitcoin down to a 100000000 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 be debt brooks. a rubbing, but that one. yeah. and assigned bite of ours. and now 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 evaluation then 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 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 permission. and every single country that is unfree has a restrictive for band crypto 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 units 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 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 have trouble with keys, it's your very point. if you don't use it, it's not your best point. your keys dropping point not to tease masturbate. point your keys, you're quite 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, hicks, your computer, but you stalled those passwords, your coins will be stolen in a 2nd. or worse, you trust a 3rd party like mount cox and the early days before the ex 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 is assembly had the money stolen by their own government? well, maybe that's why he built the fort knox of big coins security sample. most of our 7000000 customers are in emerging market in countries where there's a problem with the car and the see we have explosions in activity like venezuela right now, derek and we develop the system of wallet 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 online when are we online? it inside of all the voltage inside a bunker, usually the underground. our main one is in switzerland, the navy 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 we were met by christopher walsh by a former military colanda who runs the place. and the representative from sample kristof said the gods will draw the showed us then show us around. i hope he was kidding se needs to bring the material to the 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, even the boss was searched it took nearly an hour to get my teams were 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 big

clients to start here. and in the fall of the secret locations, but unfortunately, i can't confirm any of those numbers from the mile. we are getting a lot of benefits. but those quite prove, 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 cannot talk too much about it because it's pretty c quite the weather is down there right now. i'll be allowed to assume that know that 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 fingers that brings con and the fingerprint scanner. also make sure that you're alive. but you didn't catch someone finger and you're just using it to open a gate. yeah. 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 so raising you basically, you still can't be sold, right? so, so this is like money, these dates. so yes it's, it's been buy it, but it is money at the end,

a lot of money. and this is why dissipate the sensor. it is more of a then then a vegas. let's do a quick recap. we now have billions of dollars worth of data secured and digital bang, steep 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 to used to be a senior executive deutscher bank. his colleagues, one said bitcoin was for law frank, us in trouble because he now runs a trip to fund auto mall, to our research shows that the trip to markets are gonna probably be worth about 8.7 trillion in 2027, which is a 50 x some for the executive. most financial analysts say you better stick to your 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 super 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 gonna 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 by the way it's going

concierge spend disappear, checking 7 years. i either give you, by the advice on cost you a weekend or i want a grandkids because once it 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 that group ultimately for the change, which means that they split off to do their own version called bitcoin cash. hold on, let's go back to where we started. bitcoin was created p as a few electronic caching that was the kind of payment directly from you to me. from me to the coffee shop. i have bought a bag of coffee for 2 bitcoin in 2012 which 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 hughes and it's trucks. with big calling, you can send a $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 in special goals. and the other philosophy could be described as the coin as digital cash or bid for the we've already met the digital gold camp who opposes any changes to the protocol despite the hi fees raja represents the other side of the debate. they wanted a system upgrade. the solution is easy and just increase the size of the blocks from one to 248 megabytes. so that more transactions 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 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 bitcoin ecosystem 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 pickling cash. i think it's fraudulent to say that and causing people to, to buy big on cash when they actually want to buy big coins. they as a discount, and the cash thing is for mature, flushed and fall in between the army, according to the says, the english was the doctor's, he called them bitcoin b cash because the time of the impression he had says, i'm his jailers or anything. actually it doesn't, you've faced have been coins because i'm coming up the model of machine explained

in predicting the future of the internet and this a huge reserves of lucio used an electric battery, some fine to for reducing a reliance on fossil fuels live. be nice. can fast ideas so player or unique ecosystem that indigenous communities are desperate to protect from a mining people empower? asks, is it possible to extract the metal without causing an environmental catastrophe? argentina's white goals on that just since its inception. in 1961, the kuwait 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 or hello, kimberly. how can into hi here, your top stories on al jazeera, at this hour, the head of the russian mercenary group, wagner is reported to have been killed in a plane crash, rushes, aviation agency says you have jenny pur goes and was on a private jet, which came down north of moscow, there were no survivors among the 10 people on board. alj a 0 is amazing, rigatti is reporting from the scene of the crash in the to very region. how do you mean? because what's on the block i lead him in the crisis site is completely closed and

surrounded by various russian security services investigations at the lowest at the scene of the crash, 10 victims have been confirmed and there remains have been recovered a few months kind of how gets about that and to shut moments ago we saw a large vehicle that came from the direction of the crash sides. it contained caskets and large boxes that are believed to carry some of the remains that were found at the record should be at a, in the united states. 8 republicans hoping to be the next president have held there for us to bait. but the front runner and former president donald trump wasn't in milwaukee. he's due to surrender of the us state of georgia. later to face racketeering. a conspiracy charges to overturn the 2020 election result there. meantime donald trump's advisor and lawyer rudy giuliani is already surrendered in georgia. the former mayor of new york entered a not guilty plea to 13 charges. the controversy a release of treason, radioactive water,

from the focus show that nuclear power plant in japan has begun the dumping. the pacific ocean comes 12 years after the earthquake. and so nami, which destroyed nuclear reactors there. north korea says it's failed and it's 2nd attempt within 3 months to put a spice satellite into orbit, but will try getting in october. the latest launch prompted an emergency warning and japan, the voting and zimbabwe as presidential and parliamentary elections has been extended a day after delays at pulling stations opposition. parties accused the government party of suppressing votes and we're getting the election. the countries forming bricks nations have agreed to expand the size of their group. south africa says more than 40 developing countries are interested in joining those. are the headlines stay with us here at tapia, continues the no,

no, i know, i know you want to find out what any of this has to do v as this new crypto p, o, a 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 china 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 coding terms of the 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 like cleaning 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 hunger for his copycats and con, man. there's a coin 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, 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 your group, 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 my prize. using all analogy, you see them allows you to install crypto currency and computer code in the same 6 you a box. here's how smart contract might work. system size. let's say i bet charlie that a light coin will be was $200.00 on january. first of next year. we each put an isa into a box along with this month contract, a simple program that automatically checks the price of like coins on that future date. if i'm right, the money goes to me. if i'm wrong,

it send to charlie. a smart contract is neither smart nor contract. it's a dumb program. and it once you understand the all, it is a program that clarifies a lot of stuff and the word contract there is in the meaning of finance. most financial arrangements are pretty simple and clear. cut a 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, features, 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. also what we're doing is we're saying we have this if they are in network inside of 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 the 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, metallic, 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 there nothing similar. the only thing similar about them is they would help you raise money i, i, i, pose, 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 the white paper. and so people are just buying into trust in to face that this is something that will exist and go, sir, is like, ultimately i like to say a girl is 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 and a white paper, i can raise money like a lot of money, some people hawking you coins didn't actually exist. this handsome chap is the graphic design of the book very nicely. you actually, they just posted a photo of ryan, costing another project, raised 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 produce gammy or it's not gonna work. can you define for me what coyness is? i think it's just a derogatory term. people whose use on coins that they don't like for the climax was people on the care about. they claim everything else is the 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 calvin. over the years i've met many scientists who have real offices with real people trying to solve the real problem. but the big point maximus on the bluff change, i seos i. e o s t o's smart contracts on easy them. that's all just a waste of time varies and all the staff long, st size. round and slice through a health care industry and the auto mall is no cost to 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 this trees, but they dive to different environments, nbc dislike the ever increasing level of diversity. a number of block changed to mean the idea that there's like one block chain going to be one blocks and it's going to be fit for everything. it's. it's almost like disregarding the nature of evolution. meanwhile, the big corporations happen starting crystal currency. and they think that big comments on the line data base is where the magic is,

the model on the board rooms block chain, not bitcoin. back in germany, my friend oliver keeps tabs on the men in suits. he used to be one of them. i just passed, i left a voice mail and the name and these are documented in auburn is pending and budget as well as if i didn't course in all to asked and on by being the get this on a b, m, w is looking at using the block chain for the future fleet or electric costs to interact with public transport. lufthansa wants to see if the block chain can better attract pots and maintenance. and dodge, telecom is using smart contracts to negotiate terrace for roaming costs, with other telecoms. ringback if we can store traits, certificates, and shipping documents on the block chain, you can check to see whether it's organic of a cartilage. really came from full groove, them full pack them and will 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 announce the crypto currency for the 2000000000 uses. such a system might be more efficient than a public top chain, but that's a downside. some governments banded within weeks. right now the ways these are the 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 crypto tokens and may 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 cases where you can kick back partial on a continual basis. i think some examples of this that we're seeing in our major

down finance, which is the hub finance point. that's actually much bigger of an opportunity because it represents something totally new. my name is dr. jim a great and i'm a co founder and the chairman of 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 tenant. and it means that you service solar panels. the owner of the apartment is really incentivized to put it in solar panels. about this because the tenant benefits by using up for the tenant will pay their electricity bill to the body corporate using power. let you the tenant pace, the owner, not the power company for the electricity. as a 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 capital in the best buy. this clever system could also speed up investment in sustainable energy projects by making it real easy to own a piece of a solo or a wind farm. why do i need a production for this conduct invest in a solar fund without this? and you fancy tech chain access that kind of asset, right? just an income register and entice you not as any 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, bankers don't very much like being cut out of the cash flow loop. so they took another look at, missed in a commode, was 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 invention 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 golf 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. here's oxford on the faculty. i'm an economic 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 aligned 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 build the internet and landside, 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 cool and 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 almost 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. email 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 govern. the one thing that's missing, but that will soon be developed is a reliable

e cash. still few understood the potential of this new tech from people that thought it was 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 government and the media. they didn't quite know what to make of this new thing 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 a 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 were kicking around they had a meeting where they were trying to figure out how they could buy the internet things 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 since 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 countries studied china has the least free internet worse than iran. cuba or syria. a police force of more than 2000000 cyber cups 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 spend a minute to be fair. some of the censorship is to prevent terrorist recruitment or to stop vine and 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 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 em transaction. 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. the 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 does, 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 tyrants like the facebook, something google's and the amazons 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 car to. 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 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 us on emissions of the fi tokens, many of which rose to 1000000000 dollar evaluations. and the also 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 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. we're building a trust with the centralized system. it gives part of people to try that. 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 parties. like we're paying for a lawyers, we're paying a auditors to a paying, you know,

please even regulators government to, to build for us to ensure everything will be enforced. so trust is quite expensive . lucky is 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 egos behind it could fix one of society's biggest issues, which is how different all day from all co and political, financial, and business lead us. all 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 assets. so we're back to where we started. the genius well, vanished with publishing being gone from big kline decline. 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 all fighting over the meaning of his invention and the inhabitants projecting the fetus and the fantasies onto his legacy. for for some it's money for the internet that can replace middleman and bank leon banked and may be a tool a for alissa 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 that dreams a platform for federal finance, which is why incumbent and 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 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, of technologies into what familiar and we dramatically under estimate are 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 bit moves that 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 on the september? no, just india hose, the g 20 summit where leading economies will discuss global challenges. the broad costs premier of a new series, exploring the implications of us and goals for 1st amendment rights will lead to gather with new york for the un general assembly. with the ukraine and climate change expected to dominate talks. generation sports meets the icons to a challenging preconceptions and using that platforms to change society. the candidates for mexico's presidential election will be announced. will this be the 1st time in the country's history to women go head to head for the top, jo, september on al jazeera,

the hello, that will have a look at africa in a name and the 1st to the middle east. and despite the rising heat, we have seen some unusual, stormy weather sweep into the southwest of saudi arabia. stormy conditions with a lightning strikes effecting places like mecca. the good news is that has ease things of quite the down, but the heat continues to build 41 degrees celsius the on so they will see that replicated. so the east of this in a rock as well as 28. we could touch 51 degrees celsius thursday into friday launch the dry and hot picture for much of the region. a slight wind could kick up some dust as we goes into friday around some of the gulf of states, but temperature is picking up. and that should mean that the humidity will ease. there's not much in the way of rain here and a similar across the central band of africa, less rain than we normally say to this time. if you had just thunderstorms,

rushing across nigeria into southern parts of nature, much wyatt for the north shot was coming in for morocco. but we'll see a return of the heat engine. is it, you know, seeing $37.00 degrees celsius on friday and the heat continues to be the story down the cool southern parts of africa. but things are looking much cooler in cape town on friday. the risk of the different stories. diversity which is 0 selection in this from across the network of jennings,

l g 0 or the challenges here with the down to the page the the head of the was the most and recall if you have getting promotion is reported to be towed in a plane crash, 2 months after leaving amusing the against the crime that the hello on elizabeth. this is alex is a live from doha. also coming up. japan starts dumping, treated radioactive also somebody is flushing the power plant into the pacific ocean. provoking and go and china and south korea leaders from the brooks group of