valence and intelligence gathering in the region american observers believe this escalation is aimed at deterring iran and calming allies worried that transit through key shipping lanes could be in jeopardy. iran has announced it will soon breach limits on how much enriching uranium it can stockpile under the international nuclear deal it's signed in 2015 it also says it will be able to make weapons grade uranium last year u.s. president donald trump pulled the u.s. out of the deal and reimposed economic sanctions on iran and even though the americans withdrew from the deal they still want iran to comply with the restrictions. we have made it very clear that this president came into office in this instance secretary there that we will not tolerate iran obtaining a nuclear weapon full stop the european union and the un have called for caution regarding actions based on the attack on the 2 oil tankers implementation of the.

the world's largest social network has unveiled the digital coin that it plans to roll out next year the project is called libra now over a dozen global firms will invest in and govern the currency firms that you are well aware of. guber master card and vodafone now this group will supposedly prevent facebook from being able to control the currency that's an important aspect the coin that will be pegged to a basket of global currency such as the u.s. dollar the euro and the british pound is shielded from fluctuations that have hit bitcoin for example so will it catch on facebook is betting on its 2400000000 you're going to see that number there 1000000000 monthly users to make it easy to forge a new marketplace for streamline purchases and exchanges well here is what facebook

c.e.o. mark zuckerberg can't to say earlier today about the project i believe that it should be as easy to send money to someone as it is to send a photo so we're already testing this and india with about a 1000000 people it's been used a lot in the feedback so far is great and we're already working on rolling this out in a number of other countries later this year all right that was mark zuckerberg speaking there i'm joined tonight by josh constand he's editor at large at tech crunch that's an online publisher focusing on the tech industry he joins me tonight from san francisco josh it's good to have you on the show so put this into perspective for our viewers around the world is this the beginning of a of a new age in crypto currencies. this is definitely a new era for crypto the previous era was dominated by these very nerdy currency is

that we're mostly good for speculation you might try to buy low and hope people buy after use the price skyrockets and you can make a fortune but based prescriptive currency is totally different it's not designed speculation and the price is it supposed to change at all instead it is designed to let you pay for things in online shops or even in person or pay back friends with very low fees skipping those 4 percent transaction fees you often get with credit cards now we're we've heard that this is supposed to be a really big boon for people who maybe would not have access to having a normal banking account people in the developing world. i've heard there were a lot of jargon today about on and off ramps into a new. money ecosystem for example isn't there a huge gulf that still exists between silicon valley and sub-saharan africa when we're talking about crypto currency. absolutely most people think of

cryptocurrency is a way for people in the west to get rich but in reality there's a huge potential for them to assist the unbanked evil which there are about 1700000000 around the world because if you don't have a bank account it's very tough to get credit it's to if you get robbed you might not have anything left to your name whereas if you have a bank account it means you could then take out money to pay your bills or what have you the idea is with facebook's libor crypto currency anyone even without a bank can get this online currency account and they can deposit money that they have into this account so even if they're robbed in person they wouldn't lose everything and that would be the basis of a digital identity system which could help to administer aid for non-profits or assist with citizenship and taxes and migrant refugee problems and just let me just ask you this before we run out of time we're just getting the report right now that

a senior u.s. lawmaker a member of congress wants a hearing to be held on facebook's move into crypto currency is that something that facebook should see as a positive or is that a negative. that's definitely a negative but facebook has been trying to work with regulators and it said up front we're open to discussion we're not trying to replace sovereign currencies we're not trying to just ruin the existing banking system and we're not going to control this quaint we're going to be sharing control of these all these other people with that said with all of its history of privacy problems and concerns about anti-competitive behavior that could lead to antitrust regulation a lot of politicians still might be worried that baseball getting into a new business especially something as important as the financial sector could give it even more power over our lives at a time when everyone wants it to have less yeah that's a very good point you make there josh constant editor at large at tech crunch

joining us tonight from san francisco josh we appreciate your insights thank you my pleasure. all right the day is almost over but the conversation continues online you'll find us on twitter either at the news you can follow me at brant golf t.v. don't forget to use the hash tag a day every member whatever happens between now and then tomorrow is another day we'll see you then every book.

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