and blockchain and it's a private-public partnership. they brought in some of the biggest companies and the family offices and they brought in obviously government infrastructure in the city of munich itself. they're looking at companies that are building blockchain solutions that can genuinely affect their citizenry and citizenry globally and they are backing them with the infrastructure that the city can bring. they're backing them with funds that the public-private partnership has brought. and it's been really effective. i was in munich last month, and i got to see about five companies that are doing really meaningful stuff. they have all the pitfalls of a normal startup. when you have the support and the infrastructure from the city, you can navigate some of those pitfalls much better, right? so it's very important. we kind of get into this whole private and you don't want to get involved in government and you don't want to get involved in city and that could not be more myopic. when we can piece this together and when we think about

. >>> and instead of bitcoin boosting blockchain, could blockchain be helping save bitcoin? the authorf oa new book is here we're drowning in information. where in all of this is the stuff that matters? the stakes are so high, your finances, your future. how do you solve this? you partner with a firm that combines trusted, personal advice with the cutting edge tools and insights to help you not only see your potential, but live it too. morgan stanley. . >>> we have a story that spans sports and the cryptos hard to believe but true floyd mayweather and dj producer khaled settling lawsuits over their initial coin offerings they were charged with promoting icos without disclosing payments mayweather did not disclose a $100,000 promotional payment, and khaled did not disclose a $50,000 payment. both settled charges without admitting or denying wrong doing. >>> bitcoin dropping again this morning. in fact, we've seen a little run in the price of bitcoin lately we're back down, almost 5% down. dangerously close to going back below 4,000. let's bring in the author of a new book cal

one is the uses and technologies of blockchain technology.he speaker is ashley lindquist, and the second is the change of the future of blockchain technologies. >> okay. thank you, anthony. and before we get started, we just want to remind to hold our questions until the end of all the presentations out of respect for the time of our visiting presenters. feel free to ask clarifying questions during the presentations, but we'll save the longer ones for after the second presentation. also a note to the public that we will take public comment at the end of this item, after the second presentation. thank you. commissioner stevenson. >> hi, everybody. as many of you know, i work in tech startup, so i'm working in technology, mostly the communication since 1996, so i'm dating myself a little bit there, and i mostly focus on communication and marketing. throughout my workday, i interact with a lot of different startups, and i am constantly thinking about ways that the environment maybe the climate could intersect with technology. unfortunately, a lo

so it's not the blockchain. i think it's a misnomer calling these things blockchains. >> thank you. thank you. >> thank you. that does conclude our questioning. i apologize to the witnesses. i had to step out. i'm also a member of a couple other committees. one of them was having a markup i had to vote at. i apologize i was absent for part of your answers. for senators wishing to submit questions for the record, those questions are due in one week on thursday october 18th. to our witnesses, we ask you that you respond to those questions as quickly as you can. and, again, thank you for being here today. obviously, there is a significant difference of opinions on these issues, bullet i don't think there's any disagreement that these are critical issues that we need to face and deal with. with that, thank you for being here today. and the hearing is adjourned. >>> tonight on "the communicators," a discussion with federal trade commissioner noah phillips on the ftc's role in regulating the internet and privacy issues. he's interviewed by politico technology reporter john hendel. >> so t

for having constitution for governance of the blockchain.cto said that constitution was flawed and needs to be scrapped. what have you learned so far about getting governance right and what makes you think you will be able to find a workable model? brendan: i'm glad you brought that up. protocolhed the ourselves. eos is just one implementation of the protocol and it leads to a set of rules. we do not post or put out a public constitution so the public blockchain has a constitution created by the community and they are iterating on it. we continue to give advice here and there but the reality is there will not be one blockchain for all purposes. different types of governance will tailor to different types of industries. i think you will see different things emerge. at the end of the day, whether you have a constitution or not, when certain things happen like having toal network change directions, it is about creating transparency as opposed to leaving that up to a small group of people making decisions in nontransparent ways. brendan, block.o

what is a blockchain? >> a block campaign is an immutable database distributed through the internet. rather than have all your data in some big data warehouse in the cloud, as they call it, all the data is distributed across all the nodes of the network, so that any hacker who hax one computer can gain nothing except what's in that particular computer, because the information is distributed across the network, you have to capture 51% of all the nodes on the network in order to defraud the network. mark: let me try it this way. you've got a bulk of information about me, mark levin, but bits and pieces are in different parts. so if somebody hacks this part, they don't have enough for this part. they hack this part, they don't have enough for this part. >> they hack the entire blockchain which includes your identification in a time stamped immutable form is distributed across all the nodes with the entire blockchain in its mathematically compressed form on every node, and the nodes are constantly communicatin

carol: coming up, blockchain is taking off in kenya.na to: discover your family tree may have unforeseen consequences. carol: this is "bloomberg businessweek." ♪ jason: welcome back. carol: you can listen to us on the radio at sirius xm, and in new york, boston, washington dc -- >> in london, and on the bloomberg business app. some of the worst neighborhoods nairobienyan capital of currency,dealing with werey for goods in areas access to paper cash is rare. carol: our reporter explains. you to look at the way cryptocurrency is being used outside of wall street and silicon valley. the whole idea of blockchain is going to change everything. i wanted to see if there were real applications. inpoke to this program anya, which is turning poverty alleviation project into a cryptocurrency project. i started reading it and phrase.arol's wait, what? moving from colored paper, straight to blockchain. these are poor people who live in kenyan slums. they have things to trade, but not official shillings to do it with. we agree this paper voucher is w

>> blockchain, let's talk about blockchain. i think some of them might not survive.: do you think some of the dominant coins will survive -- won't survive? >> the whole point with bitcoin, etc. is that you have something that has a limit. that is going to be some survivors and a lot that don't survive. the thing that's probably missing is this quite revolution of blockchain using it for other purposes. ensure wave in the insurance industry where you are dynamically repricing insurance for ocean freight. it's not exciting but it's billions of dollars to the industry by using blockchain for things like that or used to rights management like microsoft is doing across the industry to use artificial intelligence and blockchain to manage royalties and rights management. places wheret of it's not discussed where there is a heck of a lot of value to gain in the industry. emily: that is a lot of concerns about regulation, lack of transparency. how much do you think that will hold the sector back? >> i listened to your previous speaker and i think it's not just a great questio

carol: coming up, blockchain is taking off in kenya.sive, how using dna to discover your family tree may have unforeseen consequences. carol: you're going to want to check out this story. this is "bloomberg businessweek." ♪ jason: welcome back to "bloomberg businessweek." i am jason kelly. carol: i am carol massar. you can listen to us on the radio at sirius xm, and in new york, boston, washington d.c. jason: in london, and on the bloomberg business app. for the last four years, some of the poorest neighborhoods in the kenyan capital of nairobi have been experimenting with community currency, payment vouchers that can help businesses pay for goods in areas were access to paper cash is sporadic. carol: that program is successful. with the involvement of a cryptocurrency program, it has gone digital. our reporter explains. >> i wanted to look at the way cryptocurrency is being used outside of wall street and silicon valley. the whole idea blockchain is it is revolutionary. it is going to change everything. i wanted to see if there were re

bit pay will verify the transaction on the blockchain and they will converted into u.s. dollars. point, u.s. dollars will be transferred to the state of ohio. the state of ohio will not be holding cryptocurrency as an asset of the state. the we talk about managing state's tax money, security comes first. this was the most responsible way to do it. ease to taxpayers but do it in a way where we are keeping tax money safe and secure. caroline: you say the upside is this is easier and it is lower .ees - at the moment, fees are quite high for bitcoin and ether. is it that much easier? josh: we built the website in a way that is intuitive. you don't have to be a computer or cryptocurrency expert. you just go to ohiocrypto.com and sign up that way. you can pay via check where there is no fee, you can pay via credit card where there is 2.5% fee. when they pay be cryptocurrency, there is a 1% fee so the fee is lower than the previously existing fee to pay via credit card. it is another option and the fee is lower with the cryptocurrency option than a credit card option. joe: was anyone as

they went from colored paper alternative currency straight to blockchain.l program, took that concept, these are people who do not have cash, these are poor people who live in kenyan slums. they do have things to trade, but not official shillings to do it with. we are going to create a co-op and we are going to agree this paper voucher is worth something in our community. carol: they call it a community currency. it is within a certain geographical area. it helps the community in terms of an economic payoff? dune: they continue to get things they need. even if they happen to earn -- even if they happen to earn official shillings recently. the program has been successful. they have about six of these in different communities around kenya. outside of nairobi and in nairobi and in mumbasa. the benefits are only within that community, but the man who started it, this displaced californian physicist turned development economist. jason: that was a great phrase. physicist turned development economist. dune: he thought, how to get them together? then these communit

this is the ibm blockchain, built for smarter business. built to run on the ibm cloud.

>> george: the solution is the blockchain. it's a return. it's a dissolution of the cloud dissolution of the wall gardens of apple and amazon, and google, and a facebook, and alibaba, and around the world the iranian, the chinese communist rulers whatever, they all have their own internet now, and the internet, that model of the internet is not sustainable. we need a new internet, which once again endows the individual with control over their own facts, their own truths. and also their own assets, and content. and that is accomplished through this cryptographic revolution that was initiated by bitcoin, and by sutoguesy, i've got some ideas in "life after google." >> peter: you talk about this, but the in any event is kind of a benign thing, and it's the way we use it isn't it? so it's not really hurting us? >> george: i think the internet was completely benign when it was used cheaply for email, and communication, among academics and bulletten boards and news groups, and the initial uses of the distributed free internet were benign. but as s

>> guest: the solution is the blockchain. dissolution of the cloud, dissolution of the walled gardens of apple and amazon and google and facebook and ten sent and ali baba and around the world, the iranians, the chinese communist rulers, whatever. they all have their own internet now, and that model of the internet is not sustainable. so we need a new internet, which once again in the house the individual with control -- endows the individual with control over their own truths and their own assets, their own content. and that is accomplished through this cryptographic revolution that was initiated by bitcoin, some ideas from life after google. >> host: you talk about this but the internet is kind of a benign thing and it's the way we use it, isn't it? it's not really hurting us. >> guest: i think the internet is completely benign when it was used chiefly for e-mail and communications among academics and bulletin boards and newsgroups. you know, the initial usages of the distributed free internet or benign, but as soon as the

you will see blockchain products in q1. stuart: i look forward to it.> thanks for having me on. stuart: thanks very much. >>> how about this one, a chinese scientist says he helped create the world's first genetically edited babies, designer babies. a set of twins born with a ability to resist hiv written into the genetic code. wadhwa vivek is with us. what do you make of designer baby. >> we opened up a pandora's box. we can't set time back. here is what will happen. will have ability in five or 10 years to he had it out characteristics of our children. conservatives debating whether stem cells are good. this is goes two steps beyond that you have a choice editing out disease. this is question i pose to the viewers. your wife is pregnant, you're pregnant, you're daughter about to have a child, do you a blood test, the doctor says the child will have debilitating disease. you can take the pill, it will fix the problem. the disease will be edited out. will you do it? almost everyone says yes. what about the other diseases? would you like to have extra i.

swift said not that long ago they did not see blockchain switching to correspondent banking.stomers disagree. i hesitate to comment on any rumor because if you comment on the false rumors, you have to comment on the true rumors. reporter: is it possible ripple could take over swift one day? >> i think what we are doing and executing on a day by day basis is in fact taking over swift. we have signed over well over -- we have signed well over 100 banks. some of the largest banks in the world are using ripple technology. just last week, we saw a remittance company using ripple technology. they reduced the price per transaction from per transaction $20 to two dollars, and they saw an 800% increase in usage overnight, and that is the type of dynamic swift is not able to support that we are able to address right now. that is something we saw in the last couple of weeks. we want to see banks succeed and take advantage of these technologies. if we can work with swift to do that, that's great. with: the ripple ceo bloomberg haslinda amin. coming up, taking the pledge. companies and te

is a middleman for the blockchains themselves. i would like to see the sf program create its own coin. you've got a bunch of business and homeowners in san francisco. some of them will put solar up and battery storage in their facilities. some of them won't, and cleanpowersf could create a nonprofit noncorporate city cleanpowersf coin for people that have solar panels in their roof to exchange their energy with people that don't. and -- and private -- on private exchange. the only time cryptocurrency makes sense is when there's a private exchange of value. all the other tracking and value stuff, all that can be done with databases in a much more efficient manner without using the blockchain at all. i hate to be a downer on that, but that's the reality. and i'm open for questions if people want to dig deeper into what i know. >> thank you. any other public comment? ashley, i mean, thank you so much for that -- for your presentations, for being with us today. anthony, next item. >> thank you. >> thank you. >>clerk: the next item is

the idea being that everybody wants blockchain -- blockchain has been around for a decade everybody wantsn and bitcoin to save the world now. >> exactly >> they're not looking out a decade >> exactly particularly newer people when they come into the market, it's extremely hard for them to go through something like this and not leave. if you don't really -- i talk about actually seeing the crypto light and having faith that this will happen because you believe in these technologies. it's not just blockchain, it's cryptocurrency, it's zero knowledge proof. all of these are the next competing platform that we think will create the next value >> why is bitcoin down 44% in 12 months is it people selling what they can? is it investors getting nervous? what is behind that? >> what's behind it is the excitement of people who believe that -- early people thought it would be a new form of cash. because of the governance problems with bitcoin it struggles to evolve. it doesn't need to evolve to be a better value than gold so it's a confidence gain, people get excited, people get ahead of themselves,

this is the ibm blockchain, built for smarter business. [ready forngs ] christmas?early to be annoyed by christmas. you just need some holiday spirit! that's it! this feud just went mobile. with xfinity xfi you get the best wifi experience at home. and with xfinity mobile, you get the best wireless coverage for your phone. ...you're about to find out! you don't even know where i live... hello! see the grinch in theaters by saying "get grinch tickets" into your xfinity x1 voice remote. a guy just dropped this off. he-he-he-he. >> oil prices moving higher for the first time in 13 days.ç prosecutors say he shipped so much cocaine that every american could of have their own line. the real leader is still in mexico. day two is expected to be a four-month trial and it kicks off today. half about self driving car unit. it's ready to shift their first driverless car service in the next few months. it's gonna cater to individuals as well as individuals. we will roll out. the most expensive watch upper auction. it was actually named the osprey. $3.8 million. lawmakers back o

and also the head of cisco's blockchain unit.id if we can learn anything from this most recent crypto collapse it's that there were no fundamentals on the way up or down his key learning from the price action we've seen in 2018 is that the reality is when you assess the fundamentals there's not a lot driving these markets. the bottom line emerging from the ashes from all of this is a renewed focus on the power and potential of blockchain which he says can change a number of seshgts and sectors in the future. we've seen bitcoin slump below $4,000 for the first time in 14 months there has been big declines here something for investors to follow around the world. >> certainly there has been. what a chart that is dan murphy, great to see you. >>> are you searching for optimism your next guest has three reasons why next year could be bullish for your money once again. she will lay them out for you coming up. >>> first the countdown is on. a high stakes g20 summit is days away we'll hear from a man who has been on the front lines of th

ai, blockchain, cloud and digital. blockchain is terrific.higher levels of transparency and confidence to all participants. withready used it twice jpmorgan as custodians. you canthat technology, have instant results of your vote being cast and confirmed back to you. we rolled it out here in the u.s. as well. we believe leaders lead. through leadership, as the industry evolves, the entire clearance which will be overnight, in time on blockchain where everyone will be on a distributed platform. we will have more clearance -- transparency. forre here for proxy now the participants that walk in today. you said you have been pushing for this for a few years. you got a bipartisan bill. how does it change what you do? plan.rote the business three decades ago. in doing that i knew technology would be the answer. as we look at this blockchain is one of those pieces. clad will drive efficiency. in the world of proxy and governance. 65% of theaminated paper and postage. aside from the ecological benefits, it saves a ton of costs for those that get the

the technology of bitcoin is blockchain blockchain extends well beyond bitcoin. this is companies across tech and healthcare and finance are looking into using blockchain to make their operations more efficient. bitcoin's success ultimately hinges on its customers, buyers believing in it. it's not centrally backed. there's no authority that will come in and say we'll buy bitcoin if nobody else does. so there's a belief in the system there's enough early investors out there that it hasn't gone to zero not a lot of retail investors getting in >> we were talking offline about bitcoin as well. i'm curious to hear your views on whether or not you think cryptocurrencies, not necessarily bitcoin but cryptocurrency as a complex will be able to survive >> i don't know what the basis for it is. people are not using bitcoin to buy things they're not using it in transactions it's not an institutional asset class. this is a retail asset class unfortunately in a lot of things retail, people mortgage their houses on the way up and lose them on the way down so when you see that

robert: yeah, so we're--we've created a open source marketplace on the decentralized ethereum blockchainicipants can interact with directly. as a platform, it's not actually controlled by a company, it's not actually administered by us, which is what makes it very different from traditional organizations. it's actually run autonomously by the ethereum community. scott: robert, you're getting dangerously into--basically, people have to park their cyber coin somewhere. they can park them a lot of places. you'll pay interest on ethereum, which is a type of cyber coin, while they park it there. robert: so, we let people earn interest from other users borrowing their cyber coin. scott: okay, just like a regular bank would. one of the things we talked about was--or i introduced you with was the fed could increase interest rates, and that could affect cyber currency in what way? robert: so, like any asset, it's susceptible to interest rates. interest rates are the opportunity cost for crypto assets, just like they are for stocks or bonds. and so, in a rising rate environment, crypto assets beco

start a wants to boutique bank featuring blockchain. of bird birdflu in a province affecting 9,000 of the birds there. we are seeing farm stocks rally. david: let's talk more markets. our guest is the cio and founder of aps asset management. the last time i spoke to you was david:in the summer. you advised to get into tech and chinese equities. this is cheaper now. what do you think? on the still bullish tech sector. i think it will be the main locomotive of the chinese economy. , bigl like cybersecurity data -- and so on. looking at a been downturn. tencent was still expensive back then. what about now? expensive.ill her growth drivers for te -- there are no growth drivers for tehe company. still haven't found any. companies will face that some -- same problem. tencent has instituted some reform. they are looking at the industrial itnernet and the future. that must impress you. early to tell. the new strategies will lean growth.espectable many companies are selling at high valuations. such growth may not be enough to satisfy investors.

hands prevailed, there was the argument when you invest in cryptocurrency you are vechg in the blockchain you can't separate the two here we are in a situation wrp we have institutions investing in the company side of things into the blockchain applications and not in the cryptocurrency. we have seen a collapse in the the cryptocurrency but it seems people are building platforms and programs and ecosystems. >> yes. >> is that argument out the window in terms of cryptocurrency being a measure of the vitality of the blockchain. >> you should separate the two that being said there is a lot happening at the crypto asset as well a lot of the smartest engineers in the world are flocking to this space but when it comes to the public crypto markets what we need to to see are macrocycles you need to stee a different macrocycle that we've signs since the beginning of bitcoin until we see the global rate hike cycle or something of that. it's hard for a risk parity strategy or macroportfolio manager to put bitcoin into the correlation mat tricks and/or put in a risk framework around the asset class w

when we started to build a platform we looked at blockchain as the best foundation we could build onomes to doing things like ky see or know your customer and aml. walletdo better tracking, forensic wallet tracking, we can do things on blockchain that we cannot do on a traditional platform. this is why we are the only company in the world to successfully get a license for betting with crypto from the isle of man and it opens up our platform to about four continents. -- an amazing technology and gives us the ability to drive usage like few other platforms can. taylor: interesting -- it's interesting you mentioned regulation. it's up to some of the individual states to talk about individual regulation. what states are you going into and how much of a tail wind is the lifting of the e-sports betting for you? rahul: we expected the u.s. to lift the ban. when we started the company in 2014, we expected to -- expected it to happen within a few years. worldf the developed were betting on sports is a part of culture so we really spent the last four years building a great platform for betting

this is the ibm blockchain, built for smarter business. hey!inking about opening your own shop? every day. i think there are some ways to help keep you on track. and closer to home. edward jones grew to a trillion dollars in assets under care, by thinking about your goals as much as you do. >>> welcome back, everybody. i'm sue herera here's your cnbc news update this hour. jury selection starts today for the trial of kingpin joaquin el chapo guzman he was transporpted ed ttranspl courthouse, a partial shutdown of the brooklyn bridge due to security concerns. >>> new comments from alibaba's executive jack ma on trade from the u.s. and china calling out the trade war as, quote, stupid. >> we have to make sure we should not worry about those things like trade. trade war is the most stupid thing in this world. trade is for peace trade is to communicate. >> here at home elon musk says his boring company will unveil a tunnel under los angeles in more than a month he made the announcement via tweet and showed the track calling it disturbingly long tha

this is th♪ ibm blockchain, built for smarter business. saved our money and now, we get to spend it - our way. valerie: but we worry if we have enough to last. ♪ cal: ellen, our certified financial planner™ professional, helps us manage our cash flow and plan for the unexpected. valerie: her experience and training gave us the courage to go for it. it's our "confident forever plan"... cal: ...and it's all possible with a cfp® professional. find your certified financial planner™ professional at letsmakeaplan.org. >>> market alert futures in rally mode following a move higher in asia. >>> apple shares tumbling after the company reported results we're digging in on the quarter ahead. >>> and it's jobs friday the big number you need to watch as we count down to today's payroll report it's friday, november 2, 2018. you're watching "worldwide exchange" on cnbc. sunset ♪ ♪ >>> good morning a very warm welcome to "worldwide exchange" this friday morning live in london i'm wilfred frost sitting in for brian sullivan he will be on "closing bell" thi

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this is the ibm blockchain, built for smarter business. built to run on the ibm cloud.chain, built for smarter business. what if numbers tell onat t. rowe pricey? our experts go beyond the numbers to examine investment opportunities firsthand. like e-commerce spurring cardboard demand. the pursuit of allergy-free peanuts. and mobile payment reaching new markets. this is strategic investing. because your investments deserve the full story. t.rowe price. invest with confidence. >>> dow futures up about 80 points now, coming off a 602-point drop yesterday it's been a tough run for some stocks this is an ugly chart. this is five sessions of trading. caterpillar down 3.3%. that's bad apple, down nearly 5%. that's not good. look at that, goldman sachs, gx gk goldman sachs is down just under 10%. the prime minister of malaysia telling cnbc that gold maman cheated his country over the state fund that is at the center of corruption and money laundering investigations. billions went missing from the fund the prosecutors filing criminal charges against two former goldman sachs ban

but also in terms of building on the blockchain and using bitcoin, does it get to a point where the priceis so bad that it halts development of the bitcoin platform and the things built on bitcoin in blockchain >> i don't think it halts it, it definitely slows it down the issue is the bitcoin narrative. the narrative is this is a value so people buying in at 15,000, 20,000 narrative believe that and that proves not to be true the original narrative i bought in is that this is a payment network that could compete with visa and mastercard. >> that true. >> the community has blocked an increase in a capacity from one megabyte upwards. >> so what's left? >> well, there are other cryptos trying to tackle the payments problem. bitcoin is being typecast as a store of value type of money which has low transaction a.m. through point except for layer two as they call it. >> is there any reason to be bullish on bitcoin or to buy bitcoin here the two major reasons why people bought in the past -- a means of transaction and store of value -- seem to be out the window at least for now. >> in the short

and with the transparencies of the data usage in the future, so people in the world and in the blockchainwilling to contribute individual data and then once the data is getting bigger and bigger that could be -- could help the small to medium ai companies to get data >>> jpmorgan was also bullish at the summit >> we are excited about the prospects for technology in china. technological upgrades, new areas such as ai, new vehicles, electronic payments. in these areas china is leading the way globally i would say in the next three to five years, in some of these verticals, you will have a number of unicorns and super unicorns emerging. this should be very, very popular among investors globally >> a group of lawmakers from nine different countries slammed facebook and its ceo, mark zuckerberg, at a special committee hearing held in london on tuesday zuckerberg was invited to give evidence himself but declined to attend politicians from nine separate governments convened to hear evidence from richard allen. the hearing focused on data privacy and competition issues elizabeth has more this was

this is the ibm blockchain, built for smarter business. to run on the ibm cloud. this is the ibm blockchain, built for smarter business. unstopand it's strengthenedting place, the by xfi pods,gateway. which plug in to extend the wifi even farther, past anything that stands in its way. ...well almost anything. leave no room behind with xfi pods. simple. easy. awesome. click or visit a retail store today. >>> two big technology headlines to have on your radar. apple is giving a demand update on their newest iphone saying the iphone xr has been the best selling model since it hit the market last month. this is the first official word from apple about how its iphone is doing apple stock has taken a beating over the past month on fears of slowing iphone demand. shares are down slightly in the premarket. >>> the "wall street journal" is reporting that facebook may have weighed the idea of charging companies for access to user data the "journal" citing internal e-mails from facebook executives from 2012 and 2014 those e-mails also reportedly show

we hear that blockchain technology is a massive to forward.y that banks has not evolved and kept up with the market. we feel like we are here to help the banks and swift is owned by the banks. we will keep focusing on solving the customer problem. seet said they did not blockchain to correspond to banking but we have over 100 of their customers who disagreed area -- disagree. there are a lot of rumors and i'm hesitant to comment on any of them. >> could ripple take over swift one day? what we are executing on a day basis is taking over swift. we have sign up over 100 banks. they are now using ripple technology. last week we saw a remittance company using ripple technology who reduce their price per transaction from $20 per transaction to two dollars per transaction and they saw 800% usage increase overnight. that is what we are able to address right now. banks succeedsee in the new world order and take advantage of these technologies. thank you for joining us at the singapore fintech. tomorrow is a big day. we are expecting justin trudeau to v

this is the ibm blockchain, built for smarter business. [ready forngs ] christmas?s way too early to be annoyed by christmas. you just need some holiday spirit! that's it! this feud just went mobile. with xfinity xfi you get the best wifi experience at home. and with xfinity mobile, you get the best wireless coverage for your phone. ...you're about to find out! you don't even know where i live... hello! see the grinch in theaters by saying "get grinch tickets" into your xfinity x1 voice remote. a guy just dropped this off. he-he-he-he. >>> welcome back here's how your money and investments are setting up their day and their week, by the way stock futures are mildly higher, up about 28 points on the dow industrial average oil prices, they are moving higher there are reports that opec and russia together, so called ropec could eye production cuts. getting headlines out of iran. iranian president saying u.s. sanctions have failed to reduce iran's oil exports to zero the price of crude oil up half a percent. brent crude up fractionally. >>> staying with news out of the

why is blockchain going to change the art market?it's not completely revolutionary, but it provides transactions now, a little more transparency, they're on a digital archive. so the hope is if your work coming to auction had sold before and it's not archived on the blockchain, this will be questions. this will make banks and investors more comfortable >> does that change anything on the forgery side >> no. >> it's still a physical item. >> yes >> just because there's a record over here that says this thing over there -- it's not a digital item >> it does nothing for forgery or missed attribution or does nothing for -- >> every time someone comes in, i want a sutene. i'm willing to go 1500, 2,000 if you could -- if you see one and it's in that price range will you -- >> you can get a good one, 1 million, 2 million -- >> no, $1,500 s -- that's why nobody gets back to me on this stuff. evan beard from u.s. trust disappointing me it's not going to happen that's fine. >> thank you. >>> when we return, gene therapy to treat disease has be

this is the ibm blockchain, built for smarter business. built to run on the ibm cloud.s is the ibm blockchain, built for smarter business. a moment of joy. a source of inspiration. an act of kindness. an old friend. a new beginning. some welcome relief... or a cause for celebration. ♪ what's inside? ♪ [laughter] possibilities. what we deliver by delivering. >>> november to remember goldman sachs reportedly shrinking the people it will name as partner. we'll tell you how many and why. >>> t-mobile ceo is putting up his $18 million penthouse in new york on the market we'll take you inside it on this monday, november 5th, 2018 you're watching "worldwide exchange." ♪ welcome to my house ♪ baby, take control >> welcome back. thank you for being with us on this monday morning. i am brian sullivan. good to see you. let's kick off your executive recap. frank holland be is back. >> cnbc.com right now, the u.s. is reimposing oil and sanctions against iran they lifted them under a 2015 deal negotiated by the obama administration iran's president said he plans to defy the u.s. sanc

there is the rush to the new thing, blockchain, cryptocurrency, ico's.stand back and say -- what are you going to offer that is an opportunity? entrepreneurship movement is getting stronger. we are doing a better job of preparing social entrepreneurs to be successful, to scale their efforts, and to have a larger impact. >> john hennessy, chairman of google, author of "leading matters," and president of stanford, thank you for joining us on "bloomberg studio 1.0." john: thank you. ♪ ♪ >> ladies and gentlemen, the winner of the stirling prize for architecture 2018 is the bloomberg building. [applause] caroline: bloomberg's european headquarters was awarded the stirling prize for the u.k.'s best new building by the world roil institute of architects. -- royal institute of architects. we look at bloomberg's office in london as a model for workplaces of the future. welcome to this program about bloomberg's new european headquarters.

this is the ibm blockchain, built for smarter business.lt to run on the ibm cloud. this is the ibm blockchain, built for smarter business. and the car has become anis now accessory to the smartphone. ride hailing, car sharing, carpooling... ...mobility services are proliferating. and there's a new generation who don't seem to want to own cars in the first place. it all means massive disruption to the car industry, cities, businesses and investors. ♪ ♪ >>> welcome back. panel is here. matthew r matthew, former democratic congressman. david brooks, welcome. happy sunday after the midterms. david, i want to ask this, did the mid determines change anything, let me put up these numbers here. 46% was the president's popular vote total in 2016. 46% was the house vote for the republicans in 2018. and 45% and then perhaps gets reweighted to 46% will be the president's job rating. i think i sense a pattern here, but i guess, did the midterms change anything. >> they entrenched things. we've got a big wall. a big barricade around the 46%. that's his

. >> reporter: with grocery stores clearing shelves, experts say more companies should adopt blockchain technology. walmart using it to track produce from farm to distributor to shipper to store in just seconds. >> the only reason that you would see industry adopting this technology is if it was profitable for them or if it was required by the government. >> reporter: tonight, e toin t source of the outbreak. more than six weeks after it tainted the food supply. miguel almaguer, nbc news. >>> if thanksgiving is almost here, you know black friday isn't far behind. our jo ling kent tells us when to buy those items on your holiday shopping list and how to use social media to save big. >> the amazon black friday sale. >> reporter: this week's deals are impossible to ignore. but the deepest discounts don't necessarily fall on black friday or even cyber monday. so what should you buy right now and what can you hold off on? for the hottest toys, act now. for big ticket electronics, black friday deals are still the best. up to 70% off brand name tvs, smart speakers, and rare discounts on the la

there's the rush to the new thing, blockchain, cryptocurrency, ico's.as to stand back and say, what are you going to offer that is really an opportunity? i think the social entrepreneurship movement is getting stronger. we're doing a better job of preparing social entrepreneurs to be successful, to scale their efforts, and to have a larger impact. brad: well john hennessy, chairman of google, author of "leading matters," and president of stanford, thank you for joining us on "bloomberg studio 1.0." john: thank you, brad. ♪ i am a family man. i am a techie dad. i believe the best technology should feel effortless. like magic. at comcast, it's my job to develop, apps and tools that simplify your experience. my name is mike, i'm in product development at comcast. we're working to make things simple, easy and awesome. >> coming up on "bloomberg best," the stories that shaped the week in business around the world. equity investors find few reasons to be thankful as global stocks suffer through a selloff. >> this is a final captiulation for tech. >> i do thin

potential buyers, overstock is going to shift its strategy and focus to cryptocurrencies and new blockchain trading system. sending the shares up 23% to 20.93. >>> time for the weekly market monitor who likes stocks somewhat immune to trade teions. he is oliver porch at abroader brothers. >> welcome >> good to be back. >> you say lower trade sensitivity, diversified revenue streams and low cyclicality is kind of the bro brushor the three picks, correct. >> absolutely. so we're in a tough market. we have seen it throughout tober and november. you want to be defensive but that doesn't mean yo have to into cash. there is plenty of opportunities, especially after the selloff. >> all right. so let's talk the top retail pick you have because 'tis is the season f >> retail i from dead. and we see tremendous early numbers for this big shopping iliday for amazon. and amazon the big winner there. and after being sold off by over ks% along with the rest of the fang stoc, this is both a value play as well a as retail play and fwroegt a sto we love it a long-term basis. >> you have a growth and income p

>>owhere is n a push for companies to adopt something called a blockchain technology. walmart already uses it to track produce from farmer to store shelves. in the meantime, consumers are urged to clean their t refrigerators,o cleanse anything that the tainted romaine lettuce may hav touched. >>> two burning homes and four dead bodies. that i at the center of a gruesome crime in new jersey. police say keith caneiro was shot and killed outside of h home. then his wife and two children were stabbed to death before their home was set on fire. then caneiro's brother paul's home was also set on fire. now investigators believe paul caneiro was trying to burn down his own home while his wife and daughters were inside. rightow paul caneiro i charged with one count of arson. police will not confirm deny whether he's a suspect in the homicide. >>> six minutes after the hour now. the thanksgiving holiday may have arrived, but president trump is not taking any time off from twitter. on the day before the holiday, the president fired off shots at climate change, the migrant caravan

this is the ibm blockchain, built for smarter business. built to run on the ibm cloud.nto my eyes ♪you will see ♪what you mean to me ♪don't tell me it's not worth trying for♪ ♪you know it's true ♪everything i do ♪i do it for you we have to be thinking about how much further to raise rates. and the way we will be were approaching that is to be looking really carefully. how they are reacting to the policy. on the market volatility. and that worries about the global economic slowdown. driven in part by news from the uk. right now does u.s. stock futures at the dow up to 21. we are still watching oil prices . it did snap a 12 day losing streak yesterday. eighty-eight cents per barrel. stocks open higher with all eyes on the uk prime minister. and in asia all they are jumping more than 1%. a new study shows worker morale plunging at facebook. mark zuckerberg's illness had have a good time. we continue right now. it's 5:30 in the morning. good morning. we still had have a good time. apple heading for the longest losing streak in more than six months as the broader market face

at this port, supply chains are becoming more transparent with blockchain.ypted mainframe is helping prevent cybercrime. that's smart for everyone. and in africa, iot sensors and the ibm cloud are protecting endangered animals. that's smart for rhinos. yeah. rhinos. because smart only really matters, when we put it to work- not just for a few of us, but for all of us. let's put smart to work. ♪yea, you can be the greatest ♪you can be the best ♪you can be the king kong ♪bangin on your chest ♪you can beat the world you can beat the war♪ ♪you can talk to god while bangin on his door♪ ♪you can throw your hands up you can beat the clock♪ ♪you can move a mountain you can break rocks♪ ♪you can be a master don't wait for luck♪ ♪dedicate yourself and you can find yourself♪ ♪standin in the hall of fame ♪yea ♪and the world's gonna know your name, yea♪ ♪and you'll be on the walls of the hall of fame♪ ♪you can be a champion ♪be a champion ♪in the walls of the hall of fame♪ ♪be students, be teachers, be politicians, be preachers♪ ♪yea, yea ♪be believers, be leaders, be as

at this port, supply chains are becoming more transparent with blockchain.'s smart for millions of shipments. in this lab, researchers are working with watson to help them find new treatments. that's smart for medicine. at this bank, the world's most encrypted mainframe is helping prevent cybercrime. that's smart for everyone. and in africa, iot sensors and the ibm cloud are protecting endangered animals. that's smart for rhinos. yeah. rhinos. because smart only really matters, when we put it to work- not just for a few of us, but for all of us. let's put smart to work. - at afor the financialt's time world to stop acting the same old way. you need a partner that is willing to break free from conventional thinking. we are a different kind of financial company. we are athene, and we are driven to do more. >> some senate races are still too close to call. i'm to start with the one that you just saw up on that screen. arizona. destined to make history either way. two female lawmakers wanted to become the first woman senator. but the race still too close to call