so, the blockchain is a way of storing ownership records.can prove that you own a bitcoin, a house or even a video clip. that proof is a unique token that is non—changeable, non—fungible — it's a non—fungible token, or nft. personally, i've always been sceptical of whether nfts are a sensible idea, but there are plenty of people who've bought into them, literally. ownership rights for some digital artworks have gone for millions of dollars, and collins dictionary has just made nft its word of the year. and just last week, a new development — a group of people got together and tried to crowdfund enough money to buy a printed copy of the us constitution at auction. they were outbid despite claiming to raise $40 million. but had they been successful, each of the thousands of contributors would've had the right to vote on what happened to the historic document next. so they could vote to put it on public display. oooh! they could vote to sell it on, or anything in between. yes, and whatever they voted to do would have been handled by a decentral

you can see all of this on the blockchain. bought this punk for themselves with borrowed money, repaid the loan in the same transaction. it is interesting that regulation will start to come to ensure this does not happen. but it is also notable that with transparency on the blockchain, you can see it happening. romaine: it. romaine: is a reminder of how unregulated the world is right now. for a lot of folks, that is the attraction. taylor: and the openness of the blockchain ledger, being able to see their transactions. romaine: i am really glad we had a chance to go to the conference today and see the show. taylor: not touching that one. romaine: [laughter] ♪ moving is a handful. no kidding! fortunately, xfinity makes moving easy. easy? -easy? switch your xfinity services to your new address online in about a minute. that was easy. i know, right? and even save with special offers just for movers. really? yep! so while you handle that, you can keep your internet and all those shows you love, and save money while you're at it wi

so the blockchain _ on crypto currency. so the blockchain is _ on crypto currency.s a _ on crypto currency. so the blockchain is a way - on crypto currency. so the blockchain is a way of - on crypto currency. so the i blockchain is a way of storing ownership records. it can prove that you own a bitcoin, a house or even a video clip. that proof is a unique token that is non— changeable, non—fungible. it is a non—fungible token. au and nft. it is a non-fungible token. au and nft-_ and nft. personally i have alwa s and nft. personally i have always been _ and nft. personally i have always been sceptical- and nft. personally i havel always been sceptical about whether they are a good idea but there are plenty of people who have bought into them, literally. ownership rights for some digital artworks have gone for billions of dollars and collins public dictionary has made nft its word of the year. and just last week, a new development— a group of people got together and tried to crowdfunded enough money to buy a printed copy of the us constitution at auction. they were ou

so the blockchain is a way of storing ownership records.that you own a bitcoin, a house or even a video clip. that proof is a unique token that is non—changeable, non—fungible — it is a non—fungible token, or nft. personally, i have always been sceptical of whether nfts are a sensible idea but there are plenty of people who've bought into them, literally. ownership rights for some digital artworks have gone for millions of dollars and collins dictionary has just made nft its word of the year. and just last week, a new development — a group of people got together and tried to crowdfund enough money to buy a printed copy of the us constitution at auction. they were outbid, despite claiming to raise $40 million. but had they been successful, each of the thousands of contributors would have had the right to vote on what happened to the historic document next. so they could vote to put it on public display. 0h! they could vote to sell it on, or anything in between. yes, and whatever they voted to do would have been handled by a decentralised aut

colleges across the country are now teaching blockchain.e for high-paying job in silicon valley. here's cnbc's kate rooney. >> i think as long as we put it together -- >> reporter: learning about blockchain is about a lot more that finding the next big cryptocurrency, at least for some students. >> when you get into crypto more, you kind of realize that a lot of what you learn in school is kind of useless >> reporter: he says it's the key to unlocking his dream job in tech. the college junior co-runs the blockchain club at cal berkeley. he and some of his classmates describe it as the next wave of the internet, which some talk about as web 3.0, especially as facebook changes its name to meta and hypes up blockchain as part of that future. >> a lot of new companies like facebook just used meta so if the biggest companies in the world are transitioning over to blockchain, it kind of feels you are being left behind unless you move with that >> reporter: berkeley is one of a handful of top universities now offering courses on blockchain competi

crypto that benefits, or blockchain's that benefits.eing used to respond to disasters and emergency situations. i want to bring in the president of ava labs, john wu. for once, john, we are able to talk about the practical use case of the underlying technology that is the blockchain. because in many ways it has become our favorite thing to talk about in terms of speculative assets. we are waiting for adaptive work or some practical use case, and you have got one. john: thank you for having me and good to see you again. yes, this is big moment. the use cases primarily have been crypto native use cases, whether it is decentralized finance or meme coins. but this is one of the first times where a fortune 500 type company or a big 4 consulting firm has decided to build a solution, that close as you go solution in this case for their customers,, in this case, government agencies. this is a very big deal, because deloitte has estimated they can save the government 50% to 80% of the all costs. what it means for the actual end-user is that poor

so, the blockchain is a way of storing ownership records.ue token that is non—changeable, non—fungible — it's a non—fungible token, or nft. personally, i've always been sceptical of whether nfts are a sensible idea, but there are plenty of people who've bought into them, literally. ownership rights for some digital artworks have gone for millions of dollars, and collins dictionary has just made nft its word of the year. and just last week, a new development — a group of people got together and tried to crowdfund enough money to buy a printed copy of the us constitution at auction. they were outbid despite claiming to raise $40 million. but had they been successful, each of the thousands of contributors would've had the right to vote on what happened to the historic document next. so they could vote to put it on public display. oooh! they could vote to sell it on, or anything in between. yes, and whatever they voted to do would have been handled by a decentralised autonomous organisation - a dao. but what on earth does that mean? a dao is sim

this platform acts as a middle man between the blockchain and developers to create things like appses it recently completed a $250 million fund-raising round which values them around $3.5 million. joining me is kate rooney along with the ceo. >> great to see you. thanks for being here. >> thanks for having me. >> of course, of course. kelly talked about some of the other applications people hear blockchain and a lot of times think about bitcoin but blockchain has moved beyond finance and some are calling this web 3.0 what are you seeing being built on this technology and where are you seeing the most growth right now? >> absolutely. so we see a lot of growth because alchemy is powering the space. what we're seeing is an explosion of different industries, music, real estate, finance, and real applications moving in and being used for example, adobe, tiktok, these companies are all building real applications on the blockchain. >> alchemy has cornered the market with nfts what's stopping an amazon from coming in. you've made the comparison to aws. why wouldn't amazon build their own vers

emily: what does the metaverse powered by blockchain look like?eph: it looks like open, decentralized protocols. it looks like tokenization of all the things. i looks like interoperation, so you can move your digital assets into different regions of the metaverse. it looks like decentralized governance. essentially, it looks like a metaverse of user centric protocols, user centric social networks or social graphs. it looks like people and small organizations having real economic and political agency, as opposed to the world we live in where major technology organizations control the platforms and de-playform -- de-platform people. emily: much is being made between the competition between ethereum and solana. joseph: solana is a wonderful technology. so many of those platforms that like to think of themselves as layer one platforms are great technologies. they will be important as our ecosystem evolves. ethereum has chosen to focus on decentralization. that is where you get trust from. so maximal decentralization will bring the trust foundation. an

that is what i call blockchain fundraising globally.t is a tool that was not available before cryptocurrencies. even today, you can't do that. it is not policy. in fts, 2021, 2020, in fts, nell artists can monetize their work. that's not possible using a fiat currency. and we are looking at game efied, decentralized social media. looking at fan tokens, sports tokens as an additional way to monetize their work, so it provides many new, different applications there were not available before, even today. this is exciting. >> binance, local entities looking at fundraising. the timeline? how much? >> the final race of binance u.s., they run relatively independently, i think they will complete it in a month or two. that is the first one. if that goes well, we will repeat that exercise at different parts of the world. >> are you looking for headquarters? >> we have a few headquarters. we will make that public soon. >> how many cities? >> three to five cities to begin with. now we are much more centralized. you have to have a centralized struct

how did you go from that to building your own token, building the blockchain?: thank you for having me on. i know we did a radio interview several weeks back, so it is exciting to talk to you again. for the listener that don't know what carnomaly is, we are basically creating an automotive blockchain vehicle platform that allows you to buy cars, sell cars, finance vehicles, and also research the vehicles, also vehicle history reporting, which right now consumers don't have control of their vehicle history report. using blockchain technology, carnomaly can give owners the ability to interact with their vehicle history. as far as buying and selling vehicles with cryptocurrency, basically, what be able do is partner with dealers, be the in between that allows consumers to use cryptocurrencies to buy, sell vehicles, and ultimately, peer-to-peer. if you wanted to sell to a friend, we could help facilitate that as well. matt: if i had a bunch of bitcoin sitting around -- i would be very happy -- if i had a bunch of ether, i would buy your token and then use that to p

the government is educating the masses on blockchain technology.n you learn about blockchain you have to learn about bitcoin. people will learn, why is it valuable, why does it have properties of limited supply, freedom of access, ease-of-use. people compare those properties of different cryptocurrencies. central bank digital currencies are great. having a digital option is good. what china is doing is not so good. even in china only bitcoin, holding bitcoin is perfectly legal. manus: the ceo and cofounder of binance on the future of cryptocurrencies. coming up, we talk about the case surges in europe and the themes for the unvaccinated. this is bloomberg. ♪ >> the vaccines are good news. the supply constraints will be largely solved in the middle of next year. we will be limited by the logistics and the demand. the idea that economic activity will resume in full once you get two levels, it is very likely. manus: he thinks covid will go from pandemic to endemic by the end of 2022. it comes at an interesting time. we look at europe once again becomi

we actually started rmd in blockchain since 2015.2017, we officially launched a commercial business, which is our authentication service based on blockchain, actually based on bitcoin. so we have been not just tinkering or starting with it, we have actually rolled it out. so the bitcoin price has rocketed so we cannot use bitcoin anymore, we are using another token at the moment. to go global, i think that she had a question on the global side of the business, we think that this blockchain technology can be the medium for cross-border services. yvonne: you talked about your mobile trading system that you will be launching early next year. can you tell us more about target you have for users when it comes to sales targets, and what are some of the major challenges you have to overcome before you launch this? kijoo: with our securities subsidiary, we already have more than 6 million users already on board with a securities account. so i think we have already a very sound base. obviously, our aim is to make sure that the mts service, wh

is a digital good that lives on the ethereum blockchain.ngs u faster like mentioning t the ethereum blockchain. i think you get there through the narnia bloodgate., he mplan: you know how in the real world you like a work of art, you can buy it and it's yours? an n.f.t. is the way to do with something digital. you see something you like online but rather than buy it physically, you go to an online marketplace and buy the digital original from the owner, stamped with a unique digital code and the object or token is stored on something called a blockchain, a t keeps track of who owns what and where transactions can be added but data can never be erased. anything with a digital footprint can technically be sold as an n.f.t. whew! is this what it feels like to be john oliver? blimey. now i get why he only does one show a week. now, there's real money being spent on this fake stuff. some notable n.f.t. sales include gucci ghost, which sold for a cool $3,600. the famous disaster girl photo for $500,000, and early internet meme nyan cat, almost $6

a lot of talk around crypto and blockchain. compliance and crypto for together really well.y draft off of that. we see a bright future in regards to crypto. also the centralized finance as we begin to grow the business there. there is a lot of growth there. you have clearly seen as dip our toes into cryptocurrency and blockchain. >> thank you so much for stopping by. coming up, a call to action. save the planet. we will speak with john about his new book, speed and scale. as we go to break, let's take a look at shares of bumbles getting up. the easing of pandemic restrictions has brought new enthusiasm. this is bloomberg. ♪ >> as we near the end of cap 26, much has been said about what we need to do to address climate change. one of the most promising trend is the unprecedented shift from fossil fuel to clean energy. john has been leading the cleantech movement since 2006 and his new book speed and scale dives into how we can reach net zero global missions by 2050. john joins us now. wonderful to have you back on the show. your daughter inspired you to write this book. what

community as an interest in self belief and the tools to do it in the term -- form of transparent blockchainroline: really good insight. we want to thank you, chief investment officer of idx digital assets. we will discuss more alternatives but some interesting developments when it comes to some of the thin textbased. the development of further abilities to estrange --exchange crypto assets. romaine: square has --they were talking about decentralized exchange of bitcoin, a platform for lack of a better world -- word. they say this is the starting point for discussion, but they make it clear they plan to move forward with this. they are staking their claim to what is a space with a lot of growing legitimacy's. you talked with the idx guy and what he is trying to do. caroline: a lot of institutional trends one centralization within a decentralized space because it is is something they know and understand. we will see a decentralized exchange in the next generation. romaine: i am excited about all the stuff. a couple of years ago, i pooh-poohed you for talking about it. now it is mildly interes

tim: so, as i mentioned, there are a couple of really exciting places where bitcoin, the blockchain,mart contracts, and all of the technologies around them are going to play a big role in transforming some of the biggest industries in the world. already we are seeing it in banking. we are going to see it in commerce, we are going to see it in government, we are going to see it in insurance. speaking of government, it is interesting what is happening in south america. we have a relationship where we have worked with sickness -- cygnus in argentina, but clearly a lot of entrepreneurs are moving to uruguay or el salvador, because there is such a change happening around south america that we feel like there is a big opportunity there. taylor: do you feel like the bc, crypto world is in a bubble? tim: not at all. it feels like a groundswell. it is slowly but surely taking over every industry. there will be a moment, i believe, when i can buy groceries, which you can in el salvador. you can buy groceries and you can buy your clothes in bitcoin. why hold a currency subject to the whims of s

. >>> plus blockchain getting its first major update in four years.t it meenls, when "power lunch" returns >>> welcome back i'm rahel solomon. here is your cnbc news update at this hour. within the last half hour, steve bannon made his initial appearance in a federal courtroom on charges of contempt of congress. the ally of former president trump surrendered to federal authorities this morning he is expected to enter plea when he is arraigned later. >>> today the defense lawyer for one three men charged in the shooting death of ahmaud arbery asked the judge to bar jesse jackson from the gallery even though a similar motion to remove al sharpton last week failed. >>> in the trial of kyle rittenhouse, closing arguments are in progress. the prosecutor saying he lost the right to claim self-defense. >>> let's give you power movers. here's one, power, this is pure power. six flags, up 6% the theme park operator climbing after appoint a new ceo. the took stockholm 30u7% as attendance climbs back from pandemic lows. there you see it up to $42.92. >> 23 and m

i would argue blockchain, ethereum is technically our big metaverse play this year.tperformed almost every other metaverse stock. it is up 500% year-to-date. blockchain happens to have a lot of early doers adopters, first to technology experience and i start to question facebook called meta now. can the audience which skews older move whatever it is that facebook plans to build? i would question that whereas some of these gaming companies and blockchain companies have the perfect audience. charles: right. hey, i love these cloud names but they are pretty wild, right? volatility, ain't for the faint of heart. you posted that. many will report over next couple weeks. what is your standing out to you? >> that's a really good question. we prefer to see how the earnings come in especially with cloud. the reason that the cloud business model gives you a lot of clues as to what future revenue will be, recurring revenue, which they report and disclose or retention rates they perform and disclose. one to move in as they beat or raise. microsoft shown us we should have quite a

i am a big believer in crypto, blockchain, we will see all that were to come.: you said matter-of-factly crypto is going to get regulated. what will be the impact on marq eta and markets across the world? >> regulation is good. regulation of crypto is good. i was just at the preeminent conference of everything fintech, a lot of talk around decentralized finance and crypto and blockchain, compliance, compliance and crypto fit together pretty well. that goes into a place of trust and verify. we see a bright future with regards to crypto, decentralized finance as we begin to grow the business. visa and mastercard have interconnected the world for companies that want to accept cards. there is a lot of growth there. emily: we will keep watching, david gardner, founder and ceo of marqeta. coming up, a call to action to save the planet. we will speak to the chair about his new book and what he believes is the path out of the climate crisis. let's take a look at shares of bumble, raising its revenue forecast for the rest of the year, a sign that the easing of pandemic

how is the adoption process coming along, rocket fuel blockchain ceo is there and joining us in a fox business exclusive. they are sort of the shopify for merchants guest getting up and running, s&p at 17 and the nasdaq up 63, both of those are records, if we can stay there, we'll see another page in the history books written, stay tuned. (vo) the more we do with our phones, the more network quality and reliability matter. and only verizon has been the most awarded for network quality 27 times in a row. that means the best experience with calls, texts and data usage of any major carrier, according to customers. there's only one best network. the only one ranked #1 in reliability 16 times in a row. we are building 5g right. at vanguard, you're more than just an investor, you're an owner with access to financial advice, tools and a personalized plan that helps you build a future for those you love. vanguard. become an owner. liz: bitcoin week is underway in el salvador, crypto company leaders, digital money experts are gathering for a week-long conference called the bitcoin lightning co

>> yeah, i , i do think theree analogies there with the way the blockchain is being used. we will see. as i said if it works it will be a great democratization of finance and opportunities for billions of people around the world and ultimately that's a great thing. >> when someone reads this what you wanted to take away from it? let me say i guess i'm not all the way to but it is an easy read. even when you get into some of the technical side of it and the details of dell, it get any business interest at all you're going to breeze right through it and it makes, it's easy to go through. what's the take away that you want people to feel when they read this book? >> i have a belief that people generally are to what into a lot of the conventional wisdom and don't take enough risks. there's a lot of potential that's left on the table because people are too afraid to fail and are looking for the perfect plan. i mean, i wasn't an exceptional student in high school. i was okay but i wasn't speeded i'm not buying that, michael. i'm not buying that at all. you might have diverted yo

caroline: maybe the underlying blockchain.r: our producers are telling us to get back on track. we hinted about the absolute levels. inflation might not be 2%. we could be looking at a new target. it is also at that neutral rate of the fed. they could be higher than it has been. is that what they wanted all along? >> all of that makes sense to me. that seems to be where a lot of central banks are comfortable right now. they want to keep it there. what was interesting was jerome powell said current levels of inflation are not consistent with their pricing mandates. he said that right out. that is not consistent with what we want. he acknowledged it does hurt people. it will be interesting to see how they balance that. caroline: we will have more of a read on the wage inflation. we will see if it continues to be more of a theme. you are. . always so smart maybe we should all go back. taylor: it is now. romaine: of course not. in all seriousness, this is a day that a lot of people anticipated. do you believe in the inflation stor

built on top of a theory him and one siding with the theory him, specifically this week you have blockchain, media, it ton of investments being poured into metaverse, so all of that coincides with real use cases outside of this finance pocket that initially crypto is associated with and it is almost -- in the early 1920's, we assumed that tech was this massive bubble and had fintech, e-commerce, and media breakout into that. i expect crypto to do the same outside of just the initial financial bucket. emily: it has also been a busy couple weeks for the metaverse. i'm curious what you think the role of crypto in the metaverse could be. aya: it is going to be movement of assets. the way i think about it is how do you value your time, especially if you think about creators, how do you value things that maybe computers cannot necessarily generate? i think microsoft's ceo mentioned, how do you value presence and human connection in a different way? i think being able to use blockchain and crypto to create interoperability and intrinsic right, as measured previously, is going to be important to di

so, the blockchain is a way of storing ownership records.eople got together and tried to crowdfund enough money to buy a printed copy of the us constitution at auction. they were outbid despite claiming to raise $40 million. but had they been successful, each of the thousands of contributors would've had the right to vote on what happened to the historic document next. so they could vote to put it on public display. oooh! they could vote to sell it on, or anything in between. yes, and whatever they voted to do would have been handled by a decentralised autonomous organisation - a dao. but what on earth does that mean? a dao is similar in some ways to some of these financial flash mobs or crowdsourcing activities, where you get a bunch of people coming together, they put some money into something to buy an asset. the difference is that in one of those activities, there are people who are recognise — recognisably running the show and are in charge of thinking it through. in a dao, we are defining it all upfront and then we're letting it run it

bitcoin is a speculative asset that has opportunity for growth and the technology ever the blockchains interesting. nothing about crypto assets or bitcoins that i am buying, or bullish on having anything to do with inflation hedge. there is no correlation. lauren: you are bullish on crypto and bitcoin? >> absolutely i am bullish on crypto around bitcoin because just of the technology ever the blockchain, how that can be a game-changer long term for not just the markets but also how we function in financial markets. lauren: speaking of bullish, we have to look at tesla shares. they're higher even though elon musk sold five billion dollars worth of stock. it was his first stock sale in about five years. tesla shares just turned lower. they're at 1064. david, let me bring you in here. elon musk selling shares, are you buying tesla shares? are what are you telling investors? >> that was a complete overreaction. i love you said it is going lower. we're looking to buy. we were looking to buy under 1200. we almost caught it under 1000. we missed it. investors want to own companies that have

blockchain. caroline: has the gen z/millennial been making money this year?ave they been putting it into crypto to have more money to spend? >> for sure. saving rates are up. with more financial literacy, like robin hood going forward, and consumers getting educated in a transparent way, it's still early days. taylor: we are coming off the last conversation with a supply chain expert and an owner of some of the portfolio brands of some of the clothing lines. they said the consumers may not be shopping is often, but when they do, they are going all out, spending more. do you see that when we shop? we are spending more, but maybe doing it less frequently. >> we definitely see that. a lot of that is driven through buy now, pay later as well. retailers have to prove the average basket size is higher. we see it's about 15% higher when they use a bnpl payment. the big area of focus is experiential. last year's data was about home furnishing, furniture, platforms like that did well. when we looked at this year, it was all about travel and beauty. sephora just did th

fox, the parent company to your network is investing $100 million in a new blockchain investment so thats, making, monetize the i.t. better with existing shows and films they own if they're able to create digital nfts around them. it is not just fox. viacom cbs says they will create nfts for spongebob. legendary earlier this year created first nft for a motion picture with gorilla versus kong. staples center will be renamed crip tow.com. this is a which to make it more lucrative around attractive to younger people. the crypto around metaverse communities, blockchain communities want to go to hollywood because it gives them legitimacy. it gives them a sense of pride to be associated with these brands. >> 700 million to rename the staples center crypto.com. sill korea, -- sill korea, you and i discuss discussed comp computing which we need for the experience. are those stocks moving? i invested in small metaverse names you never see scroll i have a cross the screen but i want to see them do well. what is moving? >> so i think so sarah made a great point. i think nfts will be bigger than me

other cycles in crypto where there's actually real utility, the defy infrastructure, gaming on blockchainppening right now and inflecting with inappropriate regulation then you're going to lose the great developers to other jurisdictions where the rules are set with certainty. >> what about regulating them like a bank and mentioned in the report today capital requirements for instance should stable coin issuers be subject to that? >> so stable coins first stable coins that have a centr centralized issuer, there should be appropriate regulation. but then there's different class of stable coins. the decentralized stable coins work differently the collateral is on chain a lot of the disclosure basically and the visibility that a banker or regulator would have in a normal centralized environment is on chain and that's better because anyone can look at it so when coming a decentralized stable coin maybe more understanding and take advantage of the best of blockchain so that the regulation is more appropriate but in terms of appropriate, stable coin regulation for centralized stable coin where

we have actually made it easier to understand what the use case for blockchain can be.tures of penguins , we have brought an entire new group of people onto crypto. matt just for finance. for the world. we have seen entire communities form around nft projects. it is --. anchor: people are saying a jpeg is not enough. is saving some of these jpeg's. perhaps yes it is a cultural revolution. but they do not feel they can understand fundamentally what people are buying when they are getting into nfts. you say to that? guest: i would say they are missing the point entirely. a has nothing to do with whether it is valuable or not. it is about scarcity, innovation, and the strength of its community. i never mentioned how artistic it is. that is not really what it is about. it is kind of like owning a ferrari. it's a cart that can get you from point a to point b. but that it's not what is cool about owning a ferrari. it is a very unique, rare automobile. it is very much the same with nfts. the owners in that community value the attributes highly. even if people outside the commu

ethereum, traders saying ethereum will be affording the crypto space, the blockchain could interrupt. rishaad: let's check in at the open, a little to the upside currently, above 32 point 86. we see dollar depreciation, that also means that the rent has snapped for a four day advance. across the board after inflationary, looking also at the fact that they kept interest rates on hold at record lows, widely expected, no surprise. india opening up its bond markets to retail investors as it seems to widen the base to find its government's massive borrowing program. i inflation is the hallmark of the pandemic recovery. a fed president says it is too soon to say of further interest rates are required. >> inflation is high, it is eye-popping. this is a transitory period. it is directly related to covid, and this soon as we get to covid the better off we will be through the economy. haslinda: chinese markets bucking the trend coming up almost 1%. let's bring in our chief china markets correspondent. what is happening here. we know there are some gains in the property space. >> i went to put i

. >> you talk about the blockchain and the meta-verse.ow do you think these megatrends could impact the future of dating? what does dating in the meta-verse look like? is that an opportunity question mark >> it is a huge opportunity. we are a business rooted in connection and building community. as you know, we are slowly optimizing the new refresh version of our platonic connection platform, bff. it has shown markable crossover opportunities between the dating and platonic but it is also proving the demand for platonic relationships. when you think about how we really turn our customer into members with real ownership over the product and their experience to have these creator channels and interact in a deeper way, the pre-match experience could turn even more digital. you saw us roll this out with video. the meta-verse is a real opportunity in the future. we inspect to be the leaders in building community more broadly because that is who we are as a community. quite it is singles' day. that is huge in china. i did not realize it is beco

so, the blockchain is a way of storing ownership records.ble — it's a non—fungible token, or nft. personally, i've always been sceptical of whether nfts are a sensible idea, but there are plenty of people who've bought into them, literally. ownership rights for some digital artworks have gone for millions of dollars, and collins dictionary has just made nft its word of the year. and just last week, a new development — a group of people got together and tried to crowdfund enough money to buy a printed copy of the us constitution at auction. they were outbid despite claiming to raise $40 million. but had they been successful, each of the thousands of contributors would've had the right to vote on what happened to the historic document next. so they could vote to put it on public display. oooh! they could vote to sell it on, or anything in between. yes, and whatever they voted to do would have been handled by a decentralised autonomous organisation - a dao. but what on earth does that mean? a dao is similar in some ways to some of these financi

emily: a few times on the call you talked about the blockchain and the meta-verse.hat does that look like? is it an opportunity? >> absolutely. web three is a huge opportunity for us. we are a business rooted in connection and building community and as you know, we are slowly rolling out the new refreshed version of our platonic connection platform, which has already shown remarkable crossover opportunities between the dating and the platonic and also just proving the strength of the demand for platonic relationships. thinking about that, how do we turn customers into members with ownership over the product and their experience with creator channels and ways to interact in a deeper way, the pre-match experience could turn even more digital into was rolled out generally, as you saw, with video, the meta-verse is a real opportunity in the future and we expect to be the front runners when it comes to dating and building community more broadly. that is just a natural extension of who we are as a product and a brand. emily: last quick question, it's singles' day, a huge

. >> we are interested in developing crypto technology, understanding blockchain, smart contracts, andring ourselves -- for a tokenized economy. we want to make sure we are well-positioned. vonnie: hong kong is set to end quarantine exemptions as it tightens up the strictest policies with the aim of reopening the border with china. exceptions for senior -- and bankers will enter november 12. carrie lam says tighter restrictions would create quick conditions to resume two way travel with the mainland. engine prime minister modi has surprised the cop 26 climate summit with the promise of net zero emissions by 2070. so, india's goal is to decades behind richer nations such as the u.s. and the u.k., it is compatible with what scientists say is needed to avoid catastrophic global warming. global news 24 hours a day on air and on bloomberg quicktake powered by more than 2700 journalists and analysts in more than 120 countries. i am vonnie quinn. this is bloomberg. >> coming up next we will speak life with -- the ceo of -- about sustainability targets and how private sector leaders can help p

we are interested in developing crypto technology and defend -- understanding blockchain and preparinglves because 20 30's going to be a tokenized economy. we want to make sure we are well-positioned. that is not without risk. money laundering, terrorist financing of the obvious ones because we know a lot of illicit financing takes place through bitcoin. no ransomware proceeds intermediated through -- ransomware proceeds are intermediated through the bitcoin market. investing in cryptocurrency is not something for retail investors. >> do you think singapore is preoccupied with those risks? here you have a central bank that is providing licenses to some crypto companies, but banks are unwilling to service these crypto companies. why do you think that is? what would it take for us to legitimize crypto assets before they jump onto the bandwagon? ravi: we try to bring the parties together and explain to them, look, you've got to behave more like a normal customer of the bank. the bank does have requirements that upon's to know, and you need to be able to provide. if they can provide that i

we have already had some institutional investors reach out to blockchain and they are very interestedveloping. i guess that means their mandate would allow them to buy these bonds. caroline: to talk about accelerating hyper bitconization. can you dissect what that means? samson: it just means you do not need to go back to currencies. you can just buy bitcoin and stay in bitcoin and spend bitcoin. el salvador is a key part of that. bitcoin is legal tender so you can buy a proposed and spend bitcoin freely. bitcoin city is going to be a very attractive place i believe for a lot of bitcoin or's. carolyn: relations with the u.s. and el salvador from a government perspectives seem to be unraveling. hitting a further low at the moment. there are worries of relationships between el salvador and the imf. does any of that matter to some of the investors your talking to yucca -- you are talking to ? samson: no. [laughs] i do not think a lot of these organizations like the imf or world bank are relevant in the world based on bitcoin. they are only relevant because they can print money, they can

we're interested in developing crypto technology, understanding blockchain, smart contracts, and preparinges. if it's going to be a -- we want to make sure we are well-positioned. but is not without risk. there are serious risks. money laundering and terrorist financing are the august want, because we know -- are the obvious ones. we know ransomware goes through the bitcoin market. we are also concerned about investing in it. haslinda: do you think financial institutions in singapore are preoccupied with it? here you have a central bank providing licenses to some of these crypto companies, but banks are unwilling to service these crypto companies. why do you think that is so, and what would it take for us to legitimize crypto assets and being legit before they jump onto the bandwagon? ravi: we try to bring the two parties together and explain to the crypto players, look, you have to behave more like a normal customer of the bank and the bank has requirements that it wants to know information it needs to know and you need to be able to provide it. if they can provide that information and be