discovered. subscribe to the documentary on you tube. it was two thousand and eight and the banks were hemorrhaging billions of dollars the eurozone was on the ropes and people could only watch in horror and then at the height of the financial crisis an outsider launched a new internet based currency discount that children who are born today won't ever know what a bank looks like from the inside out. the most important currency of all is trust. and the banks have gambled it away. the

banking industry the banking industry has been rocked by one scandal after another and recent years. but this failure gave impetus to the emergence of new web based technologies such as the blocked chain. and god will forgive the currencies that could have the middleman and banks where there are no banking monopolies and were above all the state no longer has the sole derogative in the creation of money for form. but it's about more than just catch. the option to change technology will completely revolutionize large parts of the many many industries tired of the senior. staff from the executive floors of bank skyscrapers the block chain revolution has

long since begun for example in berlin crisis back where restaurant owner a young plats has been pursuing his vision of a world without banks for more than twenty years. he is fighting for an alternative monetary system his weapon is bitcoin some of you and if you want to imagine a superhero currency and say hell with the money work that superman and batman might use you start fantasizing and you come up with something like that coil good among other things of us privately but corn. bitcoin the money with alleged super powers is used here regularly the smartphone replaces the wallets. as we have it's for well i already have better point on my phone in the form of it's you now i have almost a whole bag calling on it and i click on send. it's already there it's already there that the banks play absolutely no role zero in this transaction

i just made a bank for repayment. until now money transfers have usually involve several banks that costs both time and money because it doesn't need a back anymore it's done directly through blocked chain technology and is encrypted that could even make central banks appear fillets. the block saying network regulates itself because all transactions are stored on numerous computers. scammers have no chance at all setting record supporters. york plats the fifty year old restauranteur lost all trust in the financial system long ago he's disillusioned with the global finance structure. i believe that our economic and financial system is facing very serious problems and these are getting increasingly extreme. and also increasingly damaging to our society. they are widening the gap between rich and poor and we've also created

a system we have a class of bankers who answer to nobody and bank on. the coin uses like platts are calling for change they say the people not the financial world should control the money this is with this currency nobody needs middlemen nobody needs banks nobody needs permission to use it you don't have to show an id card get a credit reference or fill out an application you just download a program or enough and then you can use a bit card and quite easily. the billionaire was the first restaurant owner in the world to accept big corn as a means of payment he's convinced digital currencies are already competing against the old ones. isn't going to the economic and financial policies. governments and the banks are driving people to bitcoin that core and the world is that simple the financial crisis doesn't seem to be really over so confidence in the euro is

twinned ling was confidence and it kind is rising and you can see that clearly from the exchange rate as well because all. austria is in the grip of cryptocurrency fever. based at a prime location in downtown vienna magdalena plant exchanges hard cash for virtual money. her clients are anything but computer and. since your lot isn't there young people have teenagers who see it more as a lifestyle product and think bitcoin is cool i know that we have twenty to forty year old spa people who see it as an investment but also elderly people i had an eighty year old who also wanted to trade the coins i explained to him how you trade in crypto currency he got it and was super happy. for it the big cash machine is

a customer magnet it's one as you're a nurse and spits out digital coins into a smartphone based online oneness within seconds. the german business woman had good reason to choose vienna for her operation. and you get time austria sees it as a digital commodity and treats it like software that means you don't need a license from the financial markets supervisory bodies in contrast to germany where you need a financial intermediary license to trade in bitcoin. the austrian press has dubbed her the bitcoin queen. marked elina is brand sells thousands of euros worth of bitcoin every day. demand is strong. of course people are interested in the returns they can get a lot of them want to get rich. it's no wonder bitcoins crazy price history is like something out of a hollywood movie. erik film an an american teenager made headlines around the

world after the one thousand dollars he invested in bitcoin when he was only twelve made him a millionaire just before his eighteenth birthday. but they have recently been some sharp falls east and advises her clients she has a very simple long term strategy. as for the whole new guard rather place my trust in mathematics cryptography and technology than any third parties our banks. look tainted knology is a decentralized database a sort of register sums of money shares and contracts are recorded quickly cheaply and without intermediaries such as banks. entries cannot be changed. a number of blocks of digital information form a data chain this is the so-called block chain and it is totally secure. copies are

stored on thousands of computers and any attempt to manipulate them would quickly attract attention. because it is the best known block chain application. in japan it has already been accepted as an official means of payment china and russia are skeptical. but many uses are smitten but i. think the whole thing is revolutionary somehow well i don't want to say that it challenges the state or banks or whatever but if you look at the whole economic system you can see the problems that crop up time and time again. and then suddenly big client comes up with this idea complex because. you read it through when you go into it a bit deeper you start to look at bloodshed and the whole technology behind it and then you increasingly realize that this is an idea that can really work became really pay off really function. as a start it's going very well we should be in the black by the end of the year and

our goal now is to have thirty stores in three years with the next ones opening in london and stockholm later this year. and that is out. the end as postal service now even sells bitcoin vouches proof that the block chain revolution is even reaching traditional companies. but there is also a dark side particularly in its early days that coin was seen as gangster money because the anonymity of the transactions meant it could be used to launder cash and buy and sell weapons and drugs. like james woods and parklands check have to cleared war on criminal activity they found at the internet start up but panda about two years ago in vienna. today

it's grown into europe's largest cryptocurrency exchange. customers can change heroes and dollars to buy because and other critter currency. as of yet so we have in the region of a million in sales today both buying and selling the positives and withdrawals are even higher so that of course comes on top. of pure sales or work just over one million euros a day. while many crypto exchanges operates in grey areas or prohibited the german austrian team is setting the highest standards . they want everything to be as secure as a bag. and i'm finding is that this year we said from the outset that we were serious about this. that i sometimes feel transfers from euro's to bitcoin in vice versa must not be anonymised you see it and we must have verification for each customer. this is exactly the same sort of verification that you have in europe

today when you open a bank account online. customers can pay via credit card or online banking. but even guessing that fine has been a struggle. to keep banking. the banks gave us zero support they avoided us like the play it took it as. now it's the other way around but. now they come to us and say hey why don't we do a project together so now we have the choice i never thought back then that things would turn around so fast that. investors around the world up pumping billions into and as yet still unregulated markets. so is the superhero money a better method of payment compared to the euro or the old deutsche mark. germany's

central bank the bundesbank doesn't think so the guardians of the official currency have been watching their internet rivals closely. the bank's management can't understand the hype around crypto currencies i was a bit of on them because we were warned against it coin looked to especially with regard to the speculative aspects of one bitcoin is worth anything from two hundred to two thousand euros so anything seems possible. speculating and it may pay off but it can also go wrong so we would definitely advise against investing. in the problem the currency guardians have is obvious for decades they had sole control of the bank notes and coins. but they can't control blocked change. bit love conduct will do and this is a race that controllers cannot win doctrine this point in block chains offer a whole new level of evasion and that is because it's global because it's international. has no home. mannheim out it's beyond any regulatory reach into to.

in order to understand the opportunities and risks the federal bank has are working with the german stock exchange to create their own block chain. that's my i'm willing to admit that we may have already gone as far as we can with conventional technology in other words in the conventional monetary system or at least getting close to it whereas with bitcoin or block change technology the limits aren't yet clear. the current. and what about the banks have they underestimated the danger and fail to recognize the threats block taint acknowledge he poses to their business models why does one need a bank at all when one can transfer money without one the banks are now belatedly trying to get in on the act because it's we're looking at all these topics not

because we want to defend ourselves against them but because we see opportunities to generate really new business models and new solutions for our customers. the potential of the blocked chain in the banking world is huge. it could make expensive financial supervisory bodies obsolete. if the banks were to cut out the middlemen they could save billions but the technology is still in its infancy. block chain. block chain as such can't yet provide the capacity for the rapid transfer of the millions of payments made every day. for you. this is tim is however already making some aspects of banking easy and fun . chain is a lot more than just a bed point spread coin is a crypto currency it's very well known and right now it's very popular blog chains can also be used in many many other areas banks can use them in their lending

business or in their trade finance business are big banks around the world are researching blocking technology because they want to keep up with its development they are particularly interested in block chains way they have sell access and can call the shots nobody has been on a committee i believe that we'll see a commercial solutions that will involve total anonymity just like the botching and we'll also see the sort of regulatory framework that will really allow us to use these things commercially and securely since the current. some of those working on this world of tomorrow can be found in berlin's backyards young program is from all over the world. thirty one year old kids stuff yet knows all about the new technologies and advises corporate bosses on their development and applications. the block chain revolution is like a steam roller and every day brings new projects and new worries.

respondents incredibly exciting but it's also nerve racking watching the account balances go up and down or being responsible for the security of a system with billions it's really scary. the block chain jaensch and others are working on goes way beyond bitcoin. it will not only revolutionize money transfer but contracts of all kinds. it will allow complete strangers to deal with each other directly when for all we rely on mathematics and cryptography as long as the system runs this program and we know exactly what will happen if you enter into a contract that specifies an amount of time and conditions then you can be certain of the outcome eliminates the need for trust. trust in the code a revolutionary idea. but yet she wants to take things even further.

we want to give things their own bank accounts for example i can go to a bank today and open an account as a private person or as a company but my car can't open one of my charging station can't get one either nor can my locks we're connecting things through the block chain so that they can accept or make payments and enter into complex contracts. is going to visit a test customer on behalf of a big energy provider. per star sharon charge is trying to solve the most pressing problem facing electrum ability germany has too few charging stations sans charts. sharon charges a way of allowing electric car drivers and charging station operators to make ad hoc virtual transactions. and they can do this without entering into a contract or even knowing each other before hand. that works through the block

chain. there and estimated forty five thousand private charging stations in germany. in the future their owners should be able to provide energy to customers by an app directly without any credit card all service charges vehicles will be able to charge and pay autonomous levi preprogrammed contracts machines paying machines in other words. the echoes will communicate with their surroundings without any human agency. their digital world its will pay sensors to keep parking spaces free. block trains will even allow them to top up their batteries and pay for the charge by induction loops at traffic lights. these might all be very small turn. action. but without block chain technology they couldn't happen little.

bagatelle but it's our fan that's why i believe this will become more and more important in the future even though there's still a great deal we don't know simply because we don't yet have the experience. and. the reason companies can trust machines to make autonomous transactions is down to the high level of data security in the block chain. doesn't stand a chance against the computing power of the networks. business sectors where fraud and mistrust are rife have great hopes will block tainted knology. the diamond industry for example loses billions every year because of counterfeiting and blood diamonds said to fits of authenticity are usually only available on paper and can easily be faked this illusion is to deposit an immutable fingerprint for each diamond in a block chain creating a digital citic it listing the unique identifying features for each stone.

meanwhile american i.t. tyrant i.b.m. is planning to introduce block train technology into super markets with the aim of increasing food safety. block trains will be able to show the origin of meat for example. or what temperatures it has been stored at. some six hundred million people worldwide fall ill every year after consuming contaminated food. the data chain can monitor steak and schnitzel supply chains at every step from the slaughterhouse to the refrigerated counter all you need is a smartphone. in the bavarian capital munich the united nations world food program wants. to revolutionize the fight against hunger. then how to cover and his international team are already organizing donations and deliveries digitally. one

particularly promising project is aimed at solving the huge problem that many refugees face. millions have lost their families money and homes as they flee war and persecution. in places like the camp in the jordanian desert they are provided with the bare essentials for life. the aid organizations time is difficult and takes enormous effort luck tain't acknowledged to offer a solution. of the block train age of the refugees has a virtual account in the block instead of having this account with a bank we can use the block chain to handle individual transactions. the advantage for us is clear instead of making ten thousand individual transactions each month

via banks for example we can simply settle up with various businesses once a week. and operate. the syrian refugees pay for their purchases by ice. the block chain compares the ration there with pre stored biometric data and also magically triggers the transaction. before it's gone through and we're now trying to roll out the program for up to one hundred thousand people in jordan by the end of the year whilst also starting in other countries we believe we can save several million euros a year in bank charges in jordan alone which we can then use to buy more food. it's a new concept digital identities for people who have lost everything. the capability of the black chain is you could record a lot of different type of information on the back change so for example like a lot of refugees are displaced they lose their papers they basically have to start

from square one they don't have education records etc if you begin putting those things on the black chain then it becomes an immutable record that's also transferred across borders. anyone with access to radio or the internet has access to blocked chains. over in switzerland in the tranquil town of took south of zero time seems to have stood still. but in fact the digital future has already arrived here. in manila has been the town's mayor for ten years has brought the block chain revolution into local government. using basic and if you only used all those were a bit of a pioneer telling things have always worked well when we are transparent so we really have to do this of course you can argue but the sort of thing until the cows

come home there are hundred arguments in favor one hundred against and you end up doing nothing but that's what it takes in switzerland and probably elsewhere especially with new technologies just try it out get on with it. took has now become the first local authority in the world to accept crypto currency as. it's very soft this is how it works you can go to a residence registration office register or d. register yourself purchase a few of the services and pay bitcoin it works wonderfully from mobile to mobile or as they say today from peer to peer. it's very. passed on the transactions are secured so we aren't squandering any taxpayers' money it's also be a. store you go home where. this is official pilot scheme has had a signal effect and transformed the alpine town into a blocked chain valley. welt soup is now a hot spots on the global blocked chain scene men now wants to take things even

further to ensure the thirty thousand inhabitant community keeps up with the digital eyes ation avalanche. on it's a noise now we have a new project it's also a bit of a world first digital right down to it there are various different methods will be using the block and. this would mean personal data would no longer be stored on central government service in the future every citizen would manage his own digital id card safe from prying and manipulation of the moment through all that means nobody has control and can demand fees or the worst case scenario establish a monopoly and then exploited negatively sort of whole thing is a bit an archaic but in a good way gives people more opportunities to decide things for themselves. which to. block tainted knowledge is moving from digital anarky into the real world

it has already arrived in boardrooms and banks and now it's well on the way to revolutionizing our everyday lives.

cough march even as a child we had just moved the goal of my professional soccer coach a soccer player becoming a professional soccer player coach when joshua told the sergeants is going to be america's a major challenge to complete the. quest took a look around st louis could show she will explain. coming up. a clue. to clinicians into the

visual world of the great and. one in twenty. this multimedia exhibition brings the awesomest moffitt pieces to life. in symphony of light color and stopped. the moment thirty minutes w. n n gemini live. at any time i don't any place easy names in the n.f.l. as we have the benefit of pride it's almost a thing along thing to do is to combine a team from super little. to the. interactive exercises.

everything is online via an interactive benjamin to free fifty w. . system in rooms. murali. symbol of a long conflict in the philippines. between the muslim. and the christian population. when the mayans fighters ok how do city center in two thousand and seventeen president to church's response was brutal. by the terrorists will never again football game of. the reconquest turned into tragedy. this is not liberation at all this is not the kind of freedom that we want. how did it become a gateway to islamist terror. and now we see sorry going to be more severe as

a result. of an exclusive report from a destroyed city. philippines in the sights of virus starts april eleventh on d w. hundreds of thousands of people have marched in london to demand a second referendum on whether to leave the european union the demonstration comes just days off the e.u. leaders agreed to push back britain's departure date prime minister to resign may oppose a second referendum but so far no plan has majority backing in.