infrastructure leasing and financial services a major so-called shadow lender also known as i l n f s the action was taken under authority created by india's insolvency and banking code which only became law in two thousand and sixteen iola fast has been a large and prominent participant in india's building boom. notably built in the is longest tunnel that shahani nationally tunnel which opened in two thousand and seventeen but throughout the month of september mounting financial problems that i l f s including several defaults began to worry investors and authorities on the last friday and september the federal reserve bank of india met with i.f.'s as three biggest investors to press them to end the series of defaults now the government says iola finance i l f s finances were clearly mismanaged and restoring confidence in debt and capital markets is of utmost importance to that end they say the official serious fraud investigation office will open

a case on this. and turning to china initial public offerings are i p o is have increased by sixty five percent year over year again in value of roughly fifty billion dollars china's i.p.o.'s accounted for a third of all global public offerings in that same period and while the monetary value represents the third largest sum on record the actual number of companies going public has decreased by seventy percent to one hundred forty five so far this year looking more closely technology related startups are a big contributor to the heat and activity on china's contemporary i.p.o. scene industry observer renaissance capital noted ten tech startups by chinese companies in the third quarter of two thousand and eighteen and their most recent report and comparison for similar i.p.o.'s involving u.s. based firms occurred during that same period when us also noted highlighted notable new names and recently entering the tech sector they include by all means. ology

a maker of so-called smart appliances and l.a.x. a company that applies artificial intelligence to one with learning. and now i'm very pleased to be joined by stand club who is the c.e.o. and the founder of arizona's scott high tech drones are you doing some cool thing to stand we're so pleased to have you with us welcome oh great to be here and give us the i don't know fifteen twenty thousand foot overview of what you're doing it in yeah so we're block chain based drone services and media company we have a network of about fifty independent contractor drone pilots that are certified by the f.a.a. . we do jobs basically in the construction industry real estate and video production of the stand how is it being used in construction flying around construction projects what's

a being used for we do the we do these. flights where we capture hundreds of photos of a particular job site and we do it on either a daily monthly or weekly basis based on the client needs and they get real time information and they can use it for future planning and showing you know to their customers and. and tell me about what you're doing on on real estate that sounded pretty exciting when we were talking earlier yeah real estate it's basically you know there's real estate agents buying drones and legally in the united states you have to be a certified pilot so we're going to real estate companies and saying you have a network of pilots that can get your aerials and we're also building the software to verify the compliance of a particular photo or a video so we can look at you know the method data in a particular photo and say this is in proper airspace and attach waivers to an individual photo and basically make it compliant and certify that it isn't. height

restrictions except for a what sort of compliance are we talking about there's a litany of about seven or eight things that the f.a.a. you can't fly over people you can't fly over cars four hundred feet limits and for each one of these restrictions there are basically waivers and so our unique proprietary software is what attaches waivers to individual media files and then we store all that when a transaction occurs on a block chain so you've got this network of drone pilots or around the country explain that we have about fifty mostly in the metropolitan areas in new york city los angeles san francisco chicago and baltimore and then we have pilots that fly out anywhere you need and we're growing that network all right if if you're making money if you're doing this commercially as a contractor or something as a drone pilot what sort of license do you need yeah you need what's called a part one o seven certificate and it's not

a very difficult test but it's something that you need to be a commercial pilot and is there a lot of competition among these drone pilots there's about one hundred thousand certified remote pilots as of now that's a huge influx of pilots and there's a lot of single operators and aggregators out there and a lot of focus on certain verticals like agriculture or inspection work and so there's a lot about locations for drone technology said how about competition in this particular business space you know using block chain and drone services or competition in the business sector not that i have heard of and stan we've got lots of startups here at the forbes under thirty summit some have no money some of them have enough money some are never going to be profitable some are making it where are you in the process of raising money and then. your endeavor well we're

bootstrapping so right now we've been in existence for about a year working on the compliance software for about six months. and we're fund raising actively. we need to increase our sales because we see the opportunities out there and that's where we're at i been asking this question here you seem like a visionary guy on this what is your vision for the future and in this space in the drone area i.e. i look at the industry right now like we're all still riding around in horses and carriages and you know occasionally you see a car down the street and there's no stop lights or anything like that and that's where we're at in the drone space so helicopters and airplanes are normal things for us but when you see a drone everybody freezes you know some people have security concerns and regardless of the fact the drones are terrible spying devices it's still that early in the industry but as we adopt it more publicly and there are so many use cases

for them that eventually in the next twenty years they'll become much more common i hope stan thank you so much that stan is the c.e.o. in the founder of arizona's appreciated stand. good stuff from boston now time for a quick break but stick around because when we return we take a look at how washington is being used in a number of spaces including real estate this is a good one won't want to miss it and as we go to break here are the numbers. of the united states is dangerous for the. immigrants. crossing

the most. simple don't want to become lost and i wanted to ask some just about. many of them look for refuge in the so-called sentry sides of the draft used to share information about undocumented migrants with federal authorities the last person asked than. most needed more don't. get them in a lot of class and they want that. they can watch as they all choose to stay in the country with donald trump in the white house for forty gobbles. the who can beat up to the. offense it struggles of many couples. the push to political fumbles of the output of a few of both of the. truths seemed wrong. when old rules just don't hold. any old belief yet to shape

our disdain become agitated and in games from an equals betrayal. when so many find themselves worlds apart we choose to look for common ground. i. welcome back if you've been thinking the pace of mergers and acquisitions has been quickening you're right but is that boom already about to bust the latest figures from venerable business press outlets thomson reuters show a record setting m.n.a. activity level of three point three trillion dollars in total value so far in twenty eighteen that is a thirty nine percent increase from twenty seventeen and also the highest level since before the global financial crash of two thousand and eight as noted by the

financial times of london another notable undersides of the m.n.a. mania is a drop off in the third quarter orders also know to thirty five percent fall in any activity in q three of this year to seven hundred eighty three million dollars placing the drop off in the context of increasing global trade tensions particularly between the u.s. and china that seem to have scuttled a number of potential mergers by leading companies including united technologies and qualcomm. and turning to south asia a new report from the accounting firm price waters of pricewaterhouse coopers now branded as p w c finds that india is having a largely unheralded boom in mergers and acquisitions the report a joint project of p w c and the confederation of indian industry cites official figures and reputed private analysts to conclude that the value of indian m. and a activity grew in the first quarter of fiscal year twenty nine nineteen at a rate ten times that of the same quarter in f y twenty zero twenty eighteen the

authors also find any activity has accounted for a full twenty nine percent of foreign direct investment in india over the past ten years two of the biggest notable indian mergers will be familiar to boom bust viewers last month warren buffett invested estimated five hundred three hundred fifty million dollars to take a reported three to four percent stake in india's online payment platform paty m. and in may u.s. retail giant wal-mart spent sixteen billion dollars to take a seventy seven percent stake in indian online retailer flipkart. and we're back in boston here busting it out from the forbes under thirty summit and we're in a geodesic dome today it's raining outside but boy are there exciting things going on and one of the exciting things we have is we are joined by our friend christiane

i have counterpart actually not only a fine but a crypto expert first of all i've been enjoying this it's been a great conference of fire yesterday we heard from a ton of great thought leaders as well as leaders from other industries as well we heard from will warren and will and the talking about decentralized exchanges and how all the challenges that they're trying to overcome within the entire kept us base saying that it's going to take a lot for there to be mass consensus on part of the population to actually use crypto currency and so that's hoarding as an asset it's really more of an asset now the something you can use you know sort of it's on a daily commerce but ultimately you want to be able to use it like in a starbucks right salut right now i think the biggest challenge is that they mentioned was the lack of standardization and the fact that there is no collaboration between the actual block start ups there right now there have to start at the start of each with their own ideas of how to build a block chain in creating that block chain but ultimately you're just creating another problem for us to standardize again so there's too many options right now and part of that you know i guess the criticism what you're saying kristie is that

there's no conformity but conformity is about the last thing that a lot of these crypto folks want to do they want to be different they want to be disruptive so it takes a little bit for them to get into that mindset that in order to be long term they actually have to do some things that are more. than their might and let me ask you this you and i were speaking earlier not just about what's going on here own krypto in boston but about the other coast of san francisco there's an event going on there this has to do a little bit with what we talked about not too long. go on the program give us more on the yes so my partner is over at the ripples well conference right now in san francisco where they just launched x. rabbit on october first for commercial use and now so now is why label available for all the banks and all the institutions to use they've been testing it with three test banks since may and they've been reporting savings of about two forty to seventy percent over the stuff network and transactions that have took two to three

days now take two minutes so this is why when we spoke not long ago about how ripple it really shot up in value even overtaking easier is that still short of the mix do you think that that's going to continue that we we might see ripple actually sure past sort of longer term. i think right now it's more practical to use ripple ripples utility function has finally kicked in after a very long way either as utility function is more so in a smart contract or right now because of the fact it's too slow it takes about twenty to thirty minutes sometimes for their contract to actually sell right now the practicality of this mass huge search is actually kind of low so that's why in every day usage ripple is kind of better. and finally kristie what are you looking forward to coming up here in the last day or so the forbes under thirty summit in boston today is a day of excursions we have a lot of field trips outside of with

a lot of the leaders here in boston so we have a trip to the t.d. garden to see how they're managing sports team and the latest technology training and sports team and management and how technology plays into the recovery time athletes and then we have another field trip into freight farms to see how urban farming is managing with the sustainable farming and restaurants and cookery and then we see a lot of trips out into dispensaries as well as another hackathon as well hosted by i can show you we met with a guy yesterday is actually a family fan of boom bust who's involved in the phone talk with him although he said it was. in a take from you know ten until after the show actually finishes but hopefully we'll have a chance to speak with them a christie i have counterpart x. thank you so much christie and now we have to watch more coming to you a check this one out. and we're now joined by a couple oil executives from brick block which is a real estate based block chain system to make things real estate more efficient effective both for real estate owners in for finance sears and were joined by these

two executives i had the pleasure of meeting a man well good solid as doura was the c.m.o. and by gonzalez sanchez slick who was the head of investor relations gentleman welcome to all the boom busters out there about brick walk and what you're doing. yes so basically what we're doing right now that sets us apart is that we're providing the legal and the tech infrastructure for our real estate clients that's a really sets us apart from our competitors so we've done basically everything in-house from the code to the legal infrastructure marketing we build everything also it really sets us apart is that we are going to have the first property on the block chain within the beginning of october so this is a commercial unit out of liverpool it is valued of six point nine million pounds and we're going to have three point three million pounds of it on the block chain to be tokenized so not only that are we doing assets but also what sets us apart is

we have the flexibility to also do funds as well and we are also in this question's to do a large fund that is just a focus for german real estate so overall when i look at all of the competitors we are very far along to where we are and to us it's pretty exciting yeah no the thing that it's more into the measuring is that we have one point four billion worth of assets. in the pipeline and yeah we are going to say we are doing that with european new york framework and yet a federal supplier for. all of their competitors in the same time one benefit that he's always important to mention is that we're bringing the clean easy to a very liquid market that real say usually when you invest in real said you need to hold the investment for five ten years or twenty years depending on the investment opportunity with the stock and that you're going to receive off the investing you're going to be able to trade right away from day one of course we're working

with with a lot of regulators which banks are doing k y c n n e m l another to verify that your funds are coming from legal sources and yeah so people are going to be able to diversify their portfolio invest in fractional ownership in different assets whether it's real say where response. could be whatever financial instrument that you can think of it can be tokenized and we believe that it's going to change that way a way that we invest. the same way that they e-mail data with that with letters you know you replace letters replace all these mailings system we believe that you would be able to transfer ownership in a very same way in a digital way and yeah ac should be should be in the future like that i believe so we're very excited and how do people actually invest using brick for so they should really work calling these tokens p.o.e.'s stands for proof of acid tokens now each token will be their own representing their own separate asset or fund right so

really what's going to look like each so can will have their own name right and recognition really what the investors are receiving are going to be given that are becoming representing from the tokens and that's also what sets us apart we're not dealing with title exchange or nothing like that that remains with the party that said the asset or the fund really this is all just behind putting vehicle and investment opportunity and is are these denominated of the totals denominated in euro or how does that work know so basically that's a cool thing is that the token. price of the token will depend on the market so people are selling and people are buying the are the ones the finding the talking so you can think of my stock exchange for very equal assets so you test pretty much the equivalent and get a little specific on how does it work exactly if they receive a token and their real security will be hold by a bank by a custodian so their token he's actually

a representation of is is kind of like that of a said no the to understand who holds what and who is the owner of what and i tell you there are some k.-y. c.m.l. done before hand so i don't times you would know who is the owner of the share all of all of the filth you would be secure if you don't and where are these traded your platform some other crypto exchange where the tokens trade. where creating our own exchange is going to be at the centralized exchange that we allowed you to trade peer to peer but only so we can tell it would be for an exchange of self securities and we're trying to find it out with them so that people we have more liquidity in these markets and for right now are we going to stick in the euro zone primarily or what's your plan at the moment at the moment we're working only with the with european. with europe with the european market buying the future we're going to spend to other markets which are right now our main our biggest pipeline is germany u.k. we are building a pipeline in french also in scandinavia and central eastern countries as well but

we also have a large pipeline in brazil and we are later on at the end of the member going to be in hong kong to build a pipeline and that in that market as well that's also very interesting market to us guys we've spoken with people all the way from start ups who have no money they're operating on a wing and a prayer to people that are funded and make money where are you in the development cycle you've talked about moving forward in launching some things coming up soon but where are you exactly in that cycle. currently. we're. around fifteen million fourteen million euros. a few months ago five months ago that was or they say oh it's seed round because we haven't even launched the product boy we're going to be raising money again in q two why is because we want to conquer the whole the whole world face possible so we're trying we're trying to get different partnerships in different venture capital is to work with us i know

also to give us their knowledge and you know be able to get as much information from them as possible i love asking this question particularly here at the forbes under thirty summit what's your vision for this going forward yes i think that the first year our biggest focus right now is to have a good amount of examples of assets that we've done in the u.k. germany and then friends and then scandinavia those other regions right the first year is really going to be about really growing in the e.u. market little by little because us being in the e.u. gives us a huge advantage that we're so close to our clients right up in terms of clients as well so i definitely see that within let's say five years i definitely see the e.u. market being really healthy and then really expanding into latin america and asia as well and then possibly as well you know keeping a close eye on the u.s. market because that is an important market to us i mean it's a market that is very hungry for real estate investment so we are always close to

the u.s. market you want to get to the united states but of course the u.s. regulations are a little bit higher hurdle than other places particularly in the e.u. right yeah yeah yeah there hurdles i mean something that we can work though which is also something of interest is that we can tokenize u.s. based assets whether as a u.s. base asset or use base fund it's just that giving the regulations we cannot accept u.s. investors you know that is something that we can do one of the reasons we're also here is to also kind of build our network in that sense as well in the first week of november we are going to be in new york city as well speaking. real estate conference and also continuously building our pipeline there. there now was one thing that he's important to meshing is our vision we want to create a platform that allows you to invest all over the world so it will be we call a democrat they say show up investing so i allow anyone whether you seem venezuela where you see in zimbabwe to invest in properties that give them passive income

that is you know stable and they can hedge their currency with this new kind of profit then well good result zooropa c m o n gonzalo sanchez the head of investor relations at the walk how exciting we sure appreciate you being with us thanks for sharing your story and good luck to you. that's it for this time we can always catch boom bust on direct t.v. channel three twenty one for dish network channel two eight we're streaming twenty four seven on pluto t.v. channel one thirty two or as always catch us that you tube dot com boom bust r.t. so long for now from boston. as a zombie bank plague has spilled over to zombie corporations what is a zombie banks zombie bank it's a bank best technically insolvent it's kept alive by bailouts continuing rolling

balance from the central banks because of their friends in the other the banks the commercial banks the lawyers that h.s.b.c. b.n.p. the citi bank they're technically insolvent they're to live in the zombies to perpetual rolling a bailout they call quantitative easing or some other name they come up with every two months. this is. the church secret indeed just like priests accused of sexually abusing children can get. literally i like to call this the geographic solution so what the bishop needs to do then he finds out that the priest is a perpetrator is simply moves him to a different spot where the previous standard was not known highest ranks of the catholic church conceal the accused priests from the police and justice system to that is as old as the eye and then i include that it used to.

tell me. i. i thought. i thought. i thought i thought. i thought. civil war in the african nation of south sudan claims close to four hundred

thousand lives according to a u.s. funded report. the struggle between empathy and the law unfolds in italy as a pro refugee mare is placed under house arrest for allegedly helping illegal immigrants . and the people's republic of jam jar a prominent conservative party politician in the u.k. is under fire after making that insensitive quip about. the legend himself my colleague takes over the reins in about an hour's time with a full rundown of today's.