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tv   Boom Bust  RT  July 6, 2019 3:30am-4:01am EDT

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by blockade technologies use cases can range from improving the supply chain helping small businesses in agriculture cleaning up the costly and efficient cost for remittances and even land registry those are just a few uses and there are still new cases being developed every day so let's take a look at taipei taiwan to dive a little deeper into all these fascinating and essential uses of technology we're now joined by ali b.g. managing partner with the founders fund and consultant to the united nations so ali 1st off let's touch on relief for the unbanked facebook has made news recently with their announcement of libra their new crypto currency but one of the big holes in the project is the fact that you will need a bank account to actually get involved in the cryptocurrency what do you make of the issue with libra and why is the banking the unbanked such a crucial topic in the world of blocking.
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absolutely and that's a great question and one of the key properties of block change is the ability to move funds anywhere around the world any time without an intermediary without a bank and around the world there's 1700000000 banks individuals around the world and so with the ability to use blog chain you're actually able to help bank and provide banking services to these individuals for savings spending bore away and insurance and facebook came out and said libra is going to help to bank the unbanked in under banks populations and this just doesn't seem to be the case if you need a bank account you need an identity i mean this is cutting you know one in 3 adults all around the world and this is one of the problems related to also the k y c n. n. which you know make facebook have this as
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a requirement and as of now that just seems to be creating issues and leaving a major part of the population. and sticking with facebook and labor for a minute here in the labor white paper there were references to their blog chain promoting what they're calling an open identity standard essentially the idea behind identity in this regard is making a way for users to be able to have a fully verifiable digital version of identification that would work throughout the internet sort of walk us through how this technology would work in the specific benefits of this kind of identity and. one of the key problems with this emergence and as we moved over to doing more and more online and having more of our lives online has been this. disconnect essentially between our physical lives our physical identity and being able to
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prove you know flawlessly that this is the same individual in an online capacity and this just hasn't been done to an adequate way and so this is a you know a very exciting part of what you know facebook is trying to do and we're very big fans of open identity systems and open frameworks however one of the issues here is that it isn't an open identity for all because it's actually leaving out the banked population because it is requiring an identity and because it is requiring a bank account it just fails to really solve the mission for the mass population. now a lot of the use cases for block change technology are really meant to benefit the 3rd world countries that have less of a robust infrastructure than that of the wild for instance and then services they can be wildly and efficient and banks think companies that provide the services charge outrageous to be. so tell us about the problem and how watching can help to
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improve this upon the broken system. this is one of the key problems i'm very excited a blog chain being able to solve an already is more efficient than many of the solutions out there and according to the world bank there is a remittance costs on average of 6.84 percent but this can range from 10 to 20 percent depending on the country and depending on the amount that you're sending and this is just taking away hard earned funds and money from the lives of people to be able to feed their families or to be able to send their kids to school and this is a key problem and so block change can definitely serve as part of the solution around this being able to send funds around the world instantly and one of the key things with this from the united nations standpoint and one of the un sustainable
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development goals is to bring this cost below 3 percent however there's actually a key problem here with money transfer operators are m.t.o. such as western union one of the things that they do is to be able to control what we call cash points and that would essentially be physical shops or postal offices where you can actually get cash in your bank account the physical cash and what companies like western union do or money transfer operators they make these post offices in the shops sign exclusive contracts for very long periods and this actually causes a very big problem because even with using block chain technology they may actually create a savings for the money transfer operators but those savings may not actually pass on to the end consumer because of these exclusive contracts which will prevent any sorts of competition against them and ali just quickly we've also heard them.
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chains open and transparent nature can do things like creating land registries in many underdeveloped countries in haiti for instance records are kept on paper which makes them easily lost altered or perhaps corrupted or destroyed how can this all be corrected with blog chain. that is a great question and there's not only is it in haiti but all around the world i mean in the united states there's a small town still with records on on paper but but essentially everywhere there's still this problem and so one of the things where blog chain can have a very big impact is by digitizing these records and putting them on an immutable ledger we're able to help stamp out things like fraud and we're also able to deal with issues such as natural disasters or corrupt governments and so in the case with haiti and natural disasters you know even if you're displaced and you don't
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come back the next day you might come back you know a couple years down the road or your family might come back 10 years later there will still be an immutable rocker of the property that you own and you know 10 years down the road someone else may have moved into that property but then there can be processes to actually ensure that you're compensated for these amounts or for for your property and so this is actually a really improved porton innovation that can also help to deal with changing governments and all sorts of factors that are changing it keeps this stable set of information there for the future and so i think that's a very important component and more importantly when you also paired up with for example a block chain based on your line financial service system and you see a lot of. for example money laundering or terrorism financing or drug financing where this money gets washed through you know the banking system. in the. real
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estate for example you'll be able to essentially pare this and stamp a lot of this corruption that might deal with real estate so this is a very exciting area to have registries using. the managing partner with a block and consultant to the united nations thank you so much for being here. and there's always new developments in the crypto subjoined today we're going to take a look at some of the coins that have been garnering a lot of attention lately while it's still too early for all seasons to officially begin we have a lot of standout strength and coins like grin these systems and bats these guys managed to shrug off bitcoin selling pressure and stay green do the do to their impressive pipeline of updates coming online later this year to give us more of the latest developments welcome back rockie miller c.e.o. of bits young. so welcome rocky what is what is grand right now this is one of the most exciting crypto currencies out on the space and why is nimble wimble so
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important break it down for us. yeah the number wimble is the protocol that was put forth in the chat rooms to address improvements in the big network and the improvements for specific to privacy improving privacy and scalability so the way that privacy is improved is this implementation of this protocol does not require public addresses or transaction history so it's hard to trace transactions or know who you know who that originated out of the transaction is so this greatly improves privacy and on the scale ability side they've addressed this through more optimized use of data space usage so making nimble wimble nimble essentially. the grid essentially is a is a token or implementation of nimble wimble now the interesting with thing with grid is they have employed a resistant. consensus. algorithm which is which means that they're trying to make
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their consensus algorithm not favor like large miners that can basically buy their way into into more expensive hardware and thereby control more of the flow of grid so very exciting project nimble wimble is you know exciting since it came out it shows the strength and adaptability of the big quaint framework so a lot of excited people about it there are telegram it seems maybe the most hyped c.e.o. in the history of those last year was a record $1700000000.00 through a token sale that was limited to accredited investors now it's graham token will go on sale to regular crypto buyers for the 1st time in july but apparently people in the u.s. japan and korea are not allowed to participate how is that fair how does that work and do you think the u.s. is making itself anti-competitive by being so restrictive in some opportunities to buy. yes let's talk about this token sale of
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a little bit what's interesting is that the tokens can be listed on the liquid exchange 9 believe it starts july 10th and this is not agreement between the liquid exchange and telegram the telegram is not posting these tokens there is an entity called gram asia in korea they're the ones that supposedly the largest token holders in asia they're the ones that are listing these tokens the quantity price is unknown at this point so it's really more of a secondary offering at best. with other exchanges involved at this stage still addressing the. issue of regulation i think you know the u.s. has the longest established regulations and unfortunately sometimes you cannot have your cake and eat it too the regulations are there to protect investors and until and unless you know regulations feel like these listings and offerings are protecting our investors retail investors it's going to be it's going to be uphill
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climb so yes there is definitely opportunity lost in some instances but you know the u.s. has been here for a long time doing this and you know it will continue being conservative in this space but i truly believe that it will be concerted conservative to a point of losing out on all this innovation happening globally and really quickly remind us all again what exactly does tunde do and how is it different from all of its predecessors in the way that some of the setbacks. yes so. it's been called is the telegram open network essentially it is telegrams response to a theory i'm it will be a big vision is a decentralized internet with the ability to build decentralized apps on it that will focus on both payment communications as well as other other decentralized applications. now the interesting thing with telegram obviously you know as as
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we've just mentioned they've raised $1700000000.00 they have over $200000000.00 users and growing it is it is the defacto application that most people that get into crypto currency use and are actively using so the power of the organization and the development community around telegram is vast and it's going to be very interesting to see how they come up. to speed and you get in the game with the theory i'm and the applications that are going to develop because they do have a captive audience rocky miller's a sealed bids you know thanks so much for joining us. thank you for having you guys. time now for a quick break here because when we return based planes are a common occurrence in business but on the other side of the break we take a look at the biggest what's we've seen in the sector while backing up wash.
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let's. just say. thank you. and very well might continue watching us until last. my 7 years doing drugs my nephew was still in drugs my system just with doing drugs it was
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like an epidemic of drug abuse america's public enemy number one in the united states is drug abuse started going after the users in the prison population who are we started treating sick people people who are addicted to these drugs like criminals while i was on the hill recently became convinced that the war on drugs. there are countless numbers of people who are in prison for. sins for whom minor minor offenders in the drug trade it's a lot watching your children grow up and miss you in waves and say by daddy as you're walking out of this is just it doesn't get easier.
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he's the tech entrepreneur some people love to hate anyone musk the marketing genius who hasn't quite the career and used to be a media darling but now his media relations of take a turn for the worse and the controversies keep piling up archie correspondent in touch a sweet takes a look into some of the factors impacting musk's reputation from los angeles recognized for many tributes musk is probably most widely known as. there's no question that the success really. is not without controversy born in south africa 48 year old elon musk has helped to start at least 6 global companies and growing technology entrepreneur investor and engineer was listed as the 12th youngest billionaire on forbes for. 100 list he has a net worth of $22300000000.00 according to forbes he's the 40th richest person in
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the world and in december of 2016 he wasn't ranks as one of the 21st most powerful people in the world for nothing he's the cofounder c.e.o. and product architect of the electric car company tesla pay pal the online payment system worth more than $15000000000.00 was co-founded by musk he's the c.e.o. and lead designer of space x. the aerospace company is reportedly worth more than $33000000000.00 he's the c.e.o. and co-founder of neurally a neuro technology company that develops implantable brain computer interfaces traffic is soul destroying it's like acid on the soul it's horrible after living in los angeles for 16 years must decided to take the issue of traffic into his own hands and founded the boring company he's proposing underground tunnels as a way of relieving congestion on the roads the system is designed to do over a 100 miles an hour through the tunnel and i mean we're being credible if you could
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travel around l.a. new york d.c. chicago paris london anywhere at a 150 miles an hour to be from phenomenal he's also the co-founder and cochairman of open ai a research organization developing artificial intelligence but now there's been a few incidents that received quite a bit of media attention and it's happening on twitter there was a bit of a war on the social media platform with british diver vernon unsworth who assisted rescuing 12 boys and their soccer coach who were trapped in a cave it all started when musk offered to send in a drilling team and a mini submarine to thailand to help speed up rescue efforts after vernon called musk's kid sized submarine a p.r. stunts must and it has a tape to respond on twitter the twitter spat escalated with musk calling vernon a pedo guy meaning a pedophile he soon after deleted the tweets. and then the controversial pod cast with joe broke it. probably can't because stockholders right. i mean it's legal
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right ok how does it work do people get upset at you if you do certain things. back oh and marijuana in their will cannabis is legal in california the stock holders did take notice tesla's stocks plummeted as much as 10 percent after the podcast to senior executives also resigned just hours after the interview aired other tweets from us resulted in an f.b.i. investigation in 2018 federal agents began looking into whether tesla intentionally made public statements of impossible production goals musk said looks like we can reach $20000.00 model 3 cars per month in december another tweet from musk about possibly taking test the private resulted in a combined $40000000.00 in fraud settlement fees and must relationship with the media took a turn after tweeting he would create a website that would track to credibility squirrel journalists editors and publications this was before mask reportedly told the new york times in an august
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28th story that he used ambien to help him sleep article or poorly concern tesla's board members will not specifically related to must twitter account the death of 4 tesla drivers using autopilot did raise questions about the car safety but not enough to stop people from buying the car just this week according to financial experts test is on track to telling the most cars on record in los angeles in march this week r.c. . microsoft co-founder bill gates recently made news by describing one of his biggest regrets while he was still the head of one time world's most valuable company gates said he wished microsoft would have gone toe to toe with google's android to come up with a solid alternative to compete with apple's i os in an interview with village global gates said of the situation in a software world particularly our plan. forms there are winners take all markets so you know the greatest mistake ever is whatever mismanagement i engaged in that
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caused microsoft not to be what android is that is android is the standard apple i phone platform and it is amazing to me that having one of the greatest mistakes of all time currently enjoyed makes up roughly 75 percent of mobile operating system markets apple accounts for just over 22 percent the other operating systems are barely blips on the radar microsoft has tried over the years with a windows mobile operating system but they never really caught on what gates is talking about here is a full fledged effort to make a universal alternative to apple similar with what they did with the windows operating system on desktop and laptop computers competitors have come and gone but windows is still on 80 percent of systems so we wanted to break down some of its missed opportunities in the tech sector and some near failures by some of the giants in the industry and joining us to discuss this in detail is investigative journalist ben swan so ben what do you make of this claim that missing out on
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android market is his biggest regret and how much bigger would microsoft be today if they were dominating the smartphone operating system market the way that google does with android. right i mean i think that's that's the big question that nobody can even fathom that world right because it doesn't exist but in some parallel universe somewhere bill gates made the right decision and he went head to head and he actually created an operating system on the smartphone i think what you have to look at here is a lack of vision that bill gates did not for c. that eventually all phones and our primary phone would be or excuse me computer would be on our phone in our pocket and i think he just didn't recognize that you know obviously microsoft has focused very heavily on desktop software and they focused heavily even into the search engine world with being it which has never really caught on either but they did not really foresee i think the fact that that computer would become so small and so useful within the context of the cell phone
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they just didn't see it and so they wound up losing out on the again as you said an unimaginable future now sticking with the smartphone market one of the biggest mess as we saw in tac was the 20008 blackberry storm and at the time the i phone was the latest and greatest thing and really sent the smartphone market into hyperdrive but at the time blackberry was doing very well in the market most thing with the professionals who love their keyboard easy access to email on their phones but they rushed out the storm and they're buying touchscreens failed to keep them relevant in the market so what can you tell us about this. yeah you know black berry is almost like an urban legend when you talk about it now right it was like some people remember the black bear and others are like what what was the black berry and when one thing that made black berry so unique and really they were the market leader you know people will forget this but before apple smartphone and before of course android blackberry was de you know market leader
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in this case in part because of privacy issues remember that those blackberries were very private they had great security on them the e-mail function was terrific people like the keyboards but one of the things that got blackberry in trouble was the arrogance of expecting the market to wait for them remember that part of what delayed them was that they made a deal with adobe because they wanted to wait for a chip that would be strong enough for flash on the phone and so they they actually stalled a lot of their technology along the way because they were such of a force in the market that blackberry expected the public to wait and the public did not wait they got left behind you got to be able to innovate blackberry did not do it and speedy a missed opportunities ben let's talk about kodak which we do behind the scenes here the photography giant that found for chapter 11 in 2012 they're busy also the company founded 130 years ago but he also invented the idea of digital photography but somehow never embraced it as point shoot digital cameras became the norm and
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now all of the standard is having a camera in your pocket what happened with kodak here. you know kodak is a is a fascinating story and i think it's almost a story of how some companies their time just runs up you know kodak you're absolutely right they're the creators of a lot of film processes they were 8 primarily a film company not a camera company and you're also right that they invented digital photography i think it was sometime around 1905 or they 1st actually created this and believe it or not kodak actually did so a lot of digital cameras over the years the problem was that their primary business model was selling film not selling cameras that's where they made their money was in film and now they went through this process of watching essentially the market say we don't want film we just want the cameras and now today they don't even want the cameras anymore it's all on the phone and so what kodak has had to do is essentially watch itself become kind of the horse and buggy they've watched people
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move away from them and there is no desire for their products anymore and it's kind of interesting too because kodak is now in the block chain space and they're trying to make something work in that space but maybe there are a cautionary tale of some businesses don't just don't last forever they just simply don't copyright on black came by kodak going to be interesting to watch and i think internalize bans on thank you so much for your time. guys thanks. for that by this time you can catch by my standard active 811321 dish network how to 80 or asking me 247 on t.v. if a t.v. ad counting 79 or as always had us up a you tube dot com slash boom bust r.t. see you next time.
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this is a stick to from the water bottle phone in the stomach of the fish the brand is sponsor of the coca-cola company. which sells millions of bottles of soda every day the idea was that let's tell consumers there are the bad was there the litter bugs are trying this way industry shouldn't be blamed for all this waste the company has long promised to reuse the plastic. and mainly that seems cool sets for something they're class to. stay on your phones at a special projects funded. on the. footy team but for now the mountains of waste only grow higher. for me half the expectation that when we lifted people out of poverty when we became rich then we'd become. and i think valerie's what
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a lot of people ah struggling with now they expected that once they reached a certain level of income then they would be happy. and yet we create new size we create new things we want and i think sometimes we run out of explanations for why we feel unhappy and. there's nobody you know the moon strewn but in your circles one astute. and you can move into the new much for the call it was a little bit different to do more when they're. not. quite in good part of the unit already in the sims. you know midstream situation. did he do. that danny.
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google is accused of interfering in last year's referendum on a portion in ireland triggering anger among the country's religious conservatives and the protests are expected later this saturday. tensions rise between london and surround further over the seizure of the terrain all tanker off the coast to gibraltar as a call there now rules the ship could be impounded for 2 more weeks. the story of a job a motorist rejecting the climate campaigning of a swedish activist going to display mocking stickers on their vehicles. in the 90000 people signed a petition calling on the french president to intervene in the case of a man whose life support systems are being turned off after 11 you.


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