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tv   Business - News  Deutsche Welle  October 31, 2018 2:15pm-2:31pm CET

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are you watching d.w. news still to come bitcoin turns ten but is it a happy birthday after wild fluctuations in value we'll ask about the future of digital currency. gardell first has that story for you coming up in business. how about taking a few brands you could even take a chance one more. don't expect happy ending. the church.
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in january twenty eighth teen we met a chinese mother looking for her son after she was sold by human smugglers. you know we're back with ching ching and she's still booking. we accompany her to police stations point rooms which is will time changing ever see her son again. the whole story didn't report her on t w. i but. it's the tenth anniversary for the world's most famous cryptocurrency so where does bitcoin stand a decade after its introduction we finally trust it's. also a bishop's plans but one of germany's legacy industrial siemens is to build a big startup company in berlin can it succeed where google just failed.
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and introduces a tourism call for cuba going to help the caribbean nation get up more investment back home. this is the business as welcome today is the tenth anniversary of bitcoin founded at the outset of the great recession the cryptocurrency was supposed to usher in a digital revolution in payments just about a year ago its price truly is rocket skywards before coming back to earth in spectacular fashion bunning a lot of investors on reentry into the real world today as much hope as there was hype around because. in the heart of moscow there's a small and conspicuous shop it may look normal but inside it's a different world the world of bitcoin. there are a fake chocolate bitcoins as well as virtual bitcoins on servers for many of the
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crypto currency remains a great mystery even though russia produces more bitcoins than almost any other country. it wastes to quit the good it yeah actually custom is coming to us and say i want but i don't know what it is and here like in an apple store we explain to them that it's possible to make bitcoins on these machines they're told that they can buy it or equip themselves to make it anywhere. and i feel. the crypto currency is created in heavily guarded block chain data centers like this one in st petersburg bitcoins are bought and sold and the transactions are recorded here currently there are more than seventeen million bitcoins in circulation each worth more than six thousand dollars at the end of last year the currency was booming its value rocketed to almost twenty thousand dollars before collapsing even after
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a decade in circulation the big coin is still not a mainstream currency even though many say it's just a secure block chain technology allows highly encrypted transactions to be carried out and recorded more than a bit more than you can believe it or not but from an economic point of view think companies and for individuals virtual currencies a much more effective than any exchange that country's economy is now depend on economically. but the crypto currency is not one hundred percent secure hackers have stolen large sums of bit points in several countries authorities often warn consumers about what's called crypto jacking and that has weighed on bitcoins reputation and value. very off. even those who have invested in big con don't really know how works it really is all a bit complicated but you don't need to understand how a nuclear power station works before you can switch on the lights at home so well potential does bitcoin have actual business purposes let's ask ben laker he's
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a crypto currency expert and joins us from the henley business school in reading near london ben let's talk a bit can an everyday business one one of the applications that. well it's a certainly a very interesting area and i think at the moment you see lots of bitcoin if you see asked who are checking currency prices whether it's going up or where it's going down and actually if that type of behavior continues it will never become mainstream it will never be used as applications within business it is effectively a commodity which is trade on the open market that being said the technology that lies beneath the cryptocurrency which is of course blocked change that is where businesses should be focusing their resources their attention and that is has the beneficial aspect of creating technology to essentially change the way that consumers behave by selling fact live. you spoke of a big coin as as an investment is it is is it
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a wise investment what is realistic what is. it's certainly not wise as an investment and i'm a university professor not here to give investment advice but on the sly i would say absolutely no it is a bubble like many other problems but of course the reason for that is because not many people truly understand its nature and actually a lot of people are trying to use the cryptocurrency to to get rich quick we've seen bubbles in the past we saw the dot com bubble perhaps one of the most famous of all was the dutch chill it bubble many hundreds of years ago and like bitcoin that or so but worse but because the bubble will burst it will however leave a significant legacy that been brought change. change there's still big question marks over security is the security of crypto currency is how secure is the underlying technology blocks. well as a piece of pure technology it is on hackable and of course it creates huge
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advantage is compared to what we have today so for example if we were looking at a financial application a usage of block change every transaction that has occurred historically is recorded so for example if you were to take out a pound or a year of your pocket today within the block chain you to be able to identify how it has passed hands what transactions it's been part of so as a purely piece of technology it stands to reason that it's very advantageous the problems of course is we the uses we humans we forget our passwords we forget our usernames sometimes i leave my laptop open and people can log in and then access the database is around currencies and block change so until there is additional technology to actually protect the usage of block sharing we're not in a position to say it's purely purely reasonable for businesses to invest heavily within it as many technology is not really safe in human hands thank you very much
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mark took currency expert from the heller business. we stay in the tech world facebook is growing much slower than it was then expected and the company is also not meeting its revenue projections around one point four nine people million people one point four billion people rather use facebook every day that's up nine percent but still ten million users lower than expected growth was down in canada the u.s. and across europe the company which also owns whatsapp and instagram is still struggling with intense up with scrutiny from the cambridge analytical data scandal . apple unveiled a host of new products and gadgets in new york last night after years of going without an update the macbook air got a new design with a retina display apple also drastically raised prices for the new products i pad pro cost one hundred fifty dollars more than the previous motion the prize for the
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latest marco is going up two hundred dollars apple users are accustomed to paying higher prices critics say apple's focus on the c.e.o. tim cook has shifted toward boosting its share price is that a focus in. making every details of its products just. siemens will invest six hundred million euros in an innovation center in berlin that's called future compass and aspires to become the german silicon valley it will include research laboratories high tech production facilities offices and housing siemens has a gauge start up companies to take part along with scientists in the concept realisation of the campus project for berlin it is the largest single investment in industrial company has made since the end of world war two cities in asia and the u.s. we're also interested in hosting the innovation center google has announced last week it will drop similar plans for its own campus project in berlin future local resistance. as bringing hope and friends for to google just abandon plans for an
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old start its own start up company why is siemens not trying it. yes you're right google stopped their plans in berlin because they were frustrated about the protests off against the project and talking about zemin i have to admit that was smiling a little bit when i was hearing about this first because frankly speaking the men's is poor you know here in germany and also around the world for very high quality products but not really known to be extremely innovative so how is this important for us even it is certainly also for germany because being a role model when it comes to digital is asian is going to be one of the key factors also for long existing companies why our car is just another example at the moment they are that successful they even kick ass bangs germany's second biggest lender out of the blue ship and next x. the frankfurt thank you panama has begun issuing
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a new tourism that will allow cubans to travel to the central american country as private citizens without a visa and buy goods it's a very tangible symbol of the strength of commercial ties between the two countries . panamanian president juan carlos for raila introduced a new measure last week making it easier for cubans to travel to and buy goods in panama provided they can prove that they have ties to a private business in cuba currently there are some five hundred ninety two thousand cuban workers in the private sector. we feel that the tourism card will strengthen the economic opening that you're seeing in cuba and permit following the country's rules and respecting the country's regulations and all their systems it will make visits to panama easier because many cubans are traveling they travel to other countries they return to their country and they're setting up their own businesses they're moving forward and this facilitates the process. if i think that
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it is a process of the tourism card comes at a time when cuba is seeking more international investments and credit due to a liquidity crisis and the decrease in aid from venezuela. direct foreign investment in the country has averaged in the hundreds of millions of dollars over the last few years but the government to seeking an annual two point five billion dollars in investment panama's tourism card is supposed to help entrepreneurs in cuba gain more financial freedom. and that's it for me on the business team here in berlin i'll have an update for you of course in the next hour in the meantime to check out all social media feeds on twitter and facebook for go here's a check on global markets face off thanks for watching. once
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