artificial intelligence and blockchain other two things. all big banks need this. i think i need a gin and tonicjust explanation, i think i need a gin and tonic just to explanation, i think i need a gin and tonicjust to wake me up because that was something i had to admit, i had no idea. blockchain is something beyond me. gin sales are, for the first time, outselling beer. my goodness. how does that work? it's not outselling beer, it's the amount of money treasury is making in terms of money treasury is making in terms of taxes. you make a bit more from gin. ithink of taxes. you make a bit more from gin. i think the telegraph have got this so wrong. it's got nothing to do with downton abbey. it is due to all those hipsters in hackney who ten years ago realised that you can make gin quite simply. the likes of sipsmith, these new young companies. the same and frightened as well. sipsmith, these new young companies. the same and frightened as wellm you go to amsterdam or new york, there were some local company making gin andl there were some local company making gin a

yes, peter, cofounder and ceo of blockchain. fundraiser we have seen into simtech since brexit. what are you pushing in your business? >> it is good for the market in europe, the first big venture since the market in europe. for us, it was a bringing in new partners to the company, so the people we had worked with for a long time, and gotten to know really well, it is a bit of -- given we were holding a lot of the cash from the last round. caroline: a good time in the market. fascinating times for crypto currencies. this is almost straining the limits of digital currencies themselves. biggestnd currency after bitcoin. >> we have seen huge growth across the last eight weeks, across from more industry, etherium,t is a theor bitcoin. you have seen a lot of the companies are down. today, we have been fortunate to not have any downtime incidents, thewe are seeing strain at protocol level, the application appeared one of the interesting things about this financing is we actually raise the before the run-up, so it was done a few months

what makes these open blockchain's so powerful is they are open protocol.ke the the internet. it introduces so many unique business models beyond one application of a technology or business rid i think it will reduce we are not aware of. emily: how do you educate yourself on this? how do you decide whether this is a worthwhile investment? >> our goal is to be the easiest platform to interact with these open blockchains. we use something called the mom test. can my mom figure out how to buy a little bit of bitcoin on our platform? we are bringing things to the public so they can take a little money and buy and interact with the new platform. emily: when do you think the new cryptocurrencies will be mainstream? what will be the main uses when regular people get their hands on it? >> we are seeing everything on the affair him -- ehthereum network. instead of paying one company to store and manage your data, there is a network of people networkextra capacity and those willing to pay for it. i think we will see them become successful with the average user does n

emily: blockchain ceo peter smith. caroline hyde also caught up springer's ceo.e of the largest digital publishing houses in europe. she talked about the relationship with social media platforms and how he sees it he revolving. >> social media are an important driver. we have new leadership. the important thing is that in the long run, we have a sustainable model. advertising is one, but paid element subscription has to be the second one. facebook is preparing initiatives in that context, i am confident that in a short period of time on social media we will have two revenue streams. we have the date of our clients. with that, i think a great platform. if facebook itself would transform into a publisher, then -- or be forced to become a publisher then we would have an , issue. i do not think it is going in that direction. i think social media are platforms for distribution to connect people. we publishers are generating the content, strong brand monetizing, advertising. , caroline: the question of fake news, how is it then dealt with? mathias: fake news is first o

the financial times reports on a surge in the number of job adverts related to blockchain, the technology areas for technology recruitment". finally, gin is shaking and stirring up the alcohol industry — and for the first time ever, the popular spirit is earning more money for the uk treasury than beer. experts in the daily telegraph say the gin—boom is partly inspired by james bond. with us is andrew tuck — editor of global news and business magazine monocle. we will start to be independent.

the banks cash in a lot, but on the other side, using this with blockchains, bitcoin, they are also hopingrs meaning less people and therefore cutting costs. they are also investing. they would like to trade in bitcoins, creating products around bitcoin, the universe right now has not been allowed to create easy space, but bitcoin itself would love to see that change. ben: how real are the fears that they are creating a bubble? reporter: bitcoins are not some weird creation anymore and they are pretty much established, but we have pretty little experience with points, especially how those would perform when we are in crisis mode. nobody knows. we have seen many times in the past. wall street loves new products, creations. in hindsight, if something happens, everyone says, how could that happen? we have unit some trading date -- seen it some trading days. the future will tell. ben: uncharted territory. i will have more business later on in the night. brent: time to talk about a nasty peacock. that is right, it ruffled more than a few till feathers when it wondered into a california -- wande

cryptocurrency believers believe that blockchain will one day make cloud providers obsolete, and thatf the cloud will be peer-to-peer. how do you think about this? aaron: that would be bad news for us, if that happens. certainly we are more in favor of the cloud model. peer-to-peer has been tried a number of times over the years in different capacities, and obviously, from an academic standpoint, it is incredibly exciting, the possibility that you could have with a completely distributed network of systems and computers that could power all of the various servers that we use. but there are also practical limitations between security and cloud isty, that the awfully good at that at this point. emily: where do you expect box to expand? aaron: right now, it is in eight regions globally in some of the key markets where we have a lot of customer demand. our current customer demand in terms of where box is being used and where customers are trained for it certainly exceeds the eight regions we are in now. i think you can imagine us in places like south america, where we are seeing more and

. >>> ibm is building a blockchain base platform for seven banks including hsbc and deutsche bank themed at simplifying transactions for small an medium sized companies. >>> nvidia unveiling a joint venture with volvo and auto liv. the partnership is part of an effort to develop systems for self-driving cars. >>> l'oreal and natura signing a contract for the body shop sale. the company announced talks to sell the body shop for $1.1 billion. >>> a bonus stock to watch, keep an eye on shares of alphabet the european competition commission will hold a news conference at 6:00 a.m. eastern time sources say she will announce a verdict on the big anti trust case against the company eu regulators are expected to impose a record fine on google over its shopping services >>> turning to the rest of the agenda on wall street, the consumer and the fed are front and center s&p/case-shiller home price index at 9:00 a.m., followed by the monthly consumer confidence index at 10:00 a.m janet yellen will give a speech at the british academy in london at 1:00 p.m. and we had hear from philly fed presiden

aig says blockchain can increase trust an in the insurance indus.ing used in the u.s., kenya, and singapore. betty: the waldorf astoria transformed into luxury apartments is proceeding as planned. anbang says its business is operating as normal after announcing that an employee is no longer able to perform his duties. santander is said to be lining up a string of lenders. $7.8 billion capital increase. say theyrces and include credit suisse, deutsche bank, barclays, and hsbc. santander is raising funds to shore up poplars balance sheet opular's up banco p balance sheet. raising itsmf is growth estimate on china for the second time this year, although it also says more reforms are needed. the fund now says the economy will expand by 6.7% this year, up from 6.6% forecast in april. david lipson spoke to bloomberg in beijing and says the pace of reform must pick up. >> we see the chinese government providing some support both through fiscal policy and the way that credit policy was being managed, so we think this is the right forecast. we do expect the

all of this stuff, william mugiar, am i pronouncing that right >> yes he is the author of the "blockchain those of us who don't know, the difference between bit coyne and ethereum explain that >> both of them are block chains one could think of ethereum as a new block chain. ethereum has been optimized for software developers, bitcoin was more developed towards big a crypto currency. ethereum is loved by the programmers and developers out there. >> so when you look at the price go from $319 to 10 cents t really raises questions about whether these things are actually real currencies whether they can be stable what do you think about that >> there's currency speculation. you cannot deny that this is a new field. over time the speculation will subside an things wid things wi stable what happened yesterday, i wouldn't say a crash, it's more of a flash or blip, a technical error on the exchange that was powering these transactions. when you look at ethereum it has four things going for it that are strong ultimately it's about building a whole ecosystem. and ethereum has a strong ecosystem of