twenty eighteen with an estimated fortune of one hundred and sixty five billion dollars a notable elements in that vast fortune is the washington post newspaper which mr bay's those phones personally. indian authorities have moved to legally declare a major national infrastructure builder insolvent in order to prevent what some foresaw as an approaching lame in moments of systemic financial instability on monday india's national company want the company law tribunals granted the indian government's request to take control of infrastructure leasing and financial services a major so-called shadow wonder 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 fasts has been a large and prominent participant in the is 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 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. is 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 the. increased 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. seem industry observer renaissance capital noted ten tech startups by chinese companies in the third quarter of twenty 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 the science also noted highlighted notable new names and recently entering the tech sector include by all means technology a maker of so-called smart appliances and l.a.x. a company that applies artificial intelligence to one with learning. i. i. and now i'm very pleased to be joined by stan club who is the c.e.o. and the founder of areas scott high tech drones the doing some cool thing to stay

and 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 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 so their customers and. tell me about what you're doing on on real estate that sounded pretty exciting when we're 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 remote 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 just for height restrictions except for 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. and verticals like agriculture or inspection work and so is

a lot about locations for drone technology you said how about competition in this particular business space. 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 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 who 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 clever as a 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. this is.

cooked additional supposed to not of what was an ounce of to linger some of these it's just a good usual thing it's not the most. simple yet so intimate you think osha will proceed. to look at with a showing of the brand new ships going to see is lost when the shit. you think of ship the movie you have to sleep so to. vote on

a ship in. the open most of those who booked it to work at the post in your book are still missing notes i don't know what the full. was the latest news in the press. boise believe throughout the show yet of putting this was going to say the movie mercer students are in the studio. it doesn't. show small seemed wrong but all roles just don't call. me at all but yet to stamp out disdain becomes to educate and in gains from an equals betrayal. when so many find themselves worlds apart. just to look for common ground.

what politicians do. put themselves on the line to get accepted or rejected. so when you want to be president or injury. or somehow want to be rich. have to be right to be crossed it's like them before three in the morning can't be good good i'm interested always in the water using that knowledge. question. 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 eminent activity level of three point three trillion dollars in total value so far and twenty eight seen 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 notes a thirty five percent fall in a mini 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 burgers and acquisitions the report a joint project of see and the confederation of indian industry cites official figures and reputed private marsan as smart contract but right now because of the fact it's too slow it takes about twenty minutes thirty minutes sometimes for their contract to actually start all right now the practicality of its mass is actually kind of low so that's why in everyday usage repl is kind of better. and fine. christine 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 for like 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 wealth and farming in restaurants and cookery and then we see a lot of kids out into dispensaries as well as another house 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 aca fun hope to talk with him although we said it was going to take from you know ten until after the show actually finishes but hopefully we'll have a chance to speak with him a christie i have counterpart next thank you so much christie and now we have to watch more coming to you check this one out. and we're now joined by a couple oil executives from brick walk 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 the c.m.o. and by gonzalez sent shows slick who was ahead of investor relations gentlemen and

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're 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 phones as well and we are also in this question to do a large fund but i just focus for german real estate. overall when i look at all of

the competitors we are very far along to where we are and to us it is pretty exciting yeah no the thing that one has to mention is that we have one point four billion worth of assets already in the pipeline and yet we are going solo said we are doing that with the european legal framework and yeah the set of supplier from 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 a 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 in that you're going to receive up to 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 i 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 financially strong 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 to replace letters replace all these mailings system we believe that you would be able to transfer ownership in a very c. way in a digital way and yeah ac should be should be in the future like that i believe soon. very exciting and how do people actually invest using brick block so they were calling these tokens p.o.a.'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 token will have their own name recognition really what the investors are receiving are going to be dividends that are becoming representing from these tokens and that's also what sets us apart we're not dealing

with title exchange or nothing like that remains with the party that sets up the asset or the fund really this is all just. vehicle and investment opportunity and. these denominated of the tokens denominated euro or does that work no so basically that's a cool thing. the token price of the token would depend on the market so people are selling and people are buying they want the finding to talk and so you can think of a stock exchange for very illiquid assets so you pretty much take it in and get a little specific how does it work exactly they receive a token real security will be called by your bank by a custodian so the token he's actually a representation of it's kind of like a database and know that to understand who holds what and who's the owner of what unless i tell you there are. done before hand so i don't times you would know who is the owner of the share of the. and where are these traded your platform

some other crypto exchange were these tokens trade. we're creating our own exchange is going to be centralized exchange where we allow you to trade peer to peer but also we've been told would be for an exchange of self securities we're trying to point it out with them so that people we have more liquidity in the market and for right now are we going to stick in the eurozone primarily or what your point on the moment at the moment we're working only with the with european. with europe with the european market buy in the future we're going to expand to other markets which are right now our main our biggest pipeline is germany u.k. we are building a pipeline in france also in scandinavia in central eastern countries as well but we also have a large pipeline in brazil and we are later on at the end of november going to be in hong kong to build a pipeline and in that market as well because that's also a 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 raced around fifteen million fourteen million euros. a few months ago five months ago that was or less a seed round because we haven't even launched the product by 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 to work with us and 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 and what your vision for this going forward yes i think 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 a potential 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. in 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 are 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 fun 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 and the first week of november we are going to be in new york city as well speaking at a real estate conference and also continuously building our pipeline there. and now was one thing that he supports and commissioning 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 the scene where to invest in properties that give them passive income that you know is stable and they can hedge their currency with this new kind of facet manwell goods all zero the c.m.o. and gonzalo sanchez slick the head of investor relations at brick block 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 or dish network channel eight we're streaming twenty four seven on pluto t.v. channel one thirty two or as always catch us that youtube dot com slash boom bust r.t. so long for now from boston. by . the church secret indeed catholic priests accused of sexually abusing children can get away with it quite literally i like to call this the do graphic solution so what the bishop needs to do then he finds out that the priest is is a perpetrator is simply moves him to

a different spot where the previous standard is not the highest ranks of the catholic church help conceal the accused priests from the police and justice system to that end of that's known as the eye and then i think you learned to use this doubt in. this. case felt. cooked additional sunburst if not of what was in etc callender some of these it's just. not. loose jointed. simple yet so anyway if you. look at with a showing of the where a skeleton is lost when the church. has a critical ship your view of the ships only. boat of shipping. you up and most of the book is the work of the person you will still wish you know

i don't know what that or. what. was the latest news in the bus. stuff no worries i'm all right so yeah i've put this was going to say. ministers through the summer in the store oh yeah. it does. what politicians do. they put the. soaps on the water. they get accepted or rejected. so when you want to be present. for some one of the rights. it's a right to be cross with what before three in the morning can't be good but i mean .