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tv   Boom Bust  RT  May 20, 2019 9:30pm-10:01pm EDT

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grandchildren suffocating in their homes and it of urgency shelter many with foam in their mouths disturbing reports of a chemical weapons attack chemical attack carried out by the acid regime except later people in the video said they had no recollection of a chemical attack some people barged into the hospital hosed people with water instigated panic and vanished even a producer with the b.b.c. a broadcaster that gave major time to the clip said he believed the hospital video was staged. after almost 6 months of investigations i can prove without a doubt that the duma hospital scene was staged no fatalities occurred in the hospital. in 20 teen the allowed us to voices on the world stage were quick to deliver their verdict and punishment these are not the actions of a man. they are crimes of
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a monster instead the nations of britain france and the united states of america have martial their righteous power against barbarism and brutality. but with this new information it's not that obvious anymore and although it speak the interest of the politically engaged classes in lots of the new evidence from our no p c w engineers report i hope the guardian newspaper will have the good grace to print an unreserved apology for their scurrilous ad hominem attack on me after i denounce the white house potently concoct a story for what it was we may have just discovered to major piece of the puzzle explaining how seemingly independent international organizations how deceive us into consent into wars and regime change interventionism around the world there's a deafening silence from the great and good the entire body of evidence for that
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particular attack is questionable the o.p.c. w. would. or is designed to lay blame on this particular party or that particular party obviously they are going to be abused by elements on the ground because they know that with russian syrian air. planes in the air and there they have nowhere to go or they would desperately need some help by american planes were british planes. so they could fabricate everything or anything and the interesting part is that the united states and and its allies weren't even wait for investigation to take place whenever there is a hint of something they would just immediately go and bomb movie changed if we don't know it really depends if you ask me the question on what the c.w. would make of the report but is that really
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a high possibility i really doubt it. more news at the top the hour this is our t.v. international. this is boom bust broadcasting around the world and covering the world of business and finance in the upon us all i'm daniel britto in washington we're glad you're on board we've got a special show for you to today today we're all about the block chain and we're bringing you cutting edge insights from the biggest names in the block chain set. to change things often like to welcome our own brands or bore our own brand to bore who joins us in studio and boom bust christiane who joins us from los angeles today tons of content straight ahead so let's just get to it right now now the ever changing landscape cryptocurrency has raised a lot of questions
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a lot of questions about the knowledge of the not least of which is regulation of the of the cryptocurrency space while bitcoin the world's most popular virtual currency is viewed and legally treated as a commodity in the united states annoyed initial coin offerings or token sold during the fund raising process are regulated as securities this is one reason why the us has been left out many of many of those i c.e.o.'s and many people in crypto currency traders in countries like the united arab emirates are starting to support these i.c.l. as more and more kristie tell us why is the united states such an outlier on the restrictive and the spectrum when it comes to these icy roads. so the u.s. doesn't make these regulations for no good reason that the feel actually is there for because right now they're looking at the i feel landscape as a call back to the i.p.o. heyday which then led to the stock of the biggest stock market crash was in 1029
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following that stock market crash in 1929. the f.c.c. was actually created in 1934 specifically for the sole purpose to prevent some sort of market manipulation like the i.p.o. crisis from ever happening again so now they're looking at cryptocurrency and seeing this as a threat i see those are going unregulated unchecked and they're raising money from a lot of investors who have no idea what they're actually invested in which is why right now the f.c.c. is actually clamping down and they're making sure that they're more transparent about fund raising they're only raising some credit busters investors who actually know what block change and the technology is so that a lot of people can't go out there and just fraud do fraudulent behavior and raise money from mom and pops right right now brought the rest of the world on the other hand seems to be sort of letting us letting a $1000.00 flowers bloom so to speak why is that well it's interesting as christine mentioned kind of the regulatory landscape that makes a deep dive for american regulators but countries like singapore and malta they're seen as proverbial sandboxes where anything goes and that means in
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a way they can give you an opportunity to do what you need to do and if you go too far they'll bring you back basically the opposite of what the us situation is now a consensus in new york city i actually caught up with polymath co-founder trevor cook bercow about the regulatory environment and their new platform pouty mesh which is intended to be more compliant friendly. so partnership is the base layer you know it's a protocol and we think it's really important to get that infrastructure set 1st you know a lot of the future of security tokens are going to be applications and issuers and tokens that live on this infrastructure but we're still in that early stage of kind of rolling up our sleeves and and laying the pipes for what's going to be a really robust ecosystem and one of the big parts is regulation and compliance and like we spoke about before here in the u.s. compliance the regulation is a tough one that's why you see the rest of the world. have a holding most of the i c o's and as theo's and tell you that that how is probably much going to differ in that regard we think of compliance. and even components of
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compliance like identity as a core native feature of poly mesh it's not a secondary thought you know a lot of a lot of the top public chains today you know the top 20 you know projects they don't really think of identity as something that's important to do natively and what i mean by that is it's kind of an afterthought so it's like a wallet address and a human person and that's kind of not a super strong connection and what we're saying is let's let's rethink about. how we think about identity let's let's take that into the core architecture and when that happens we can really innovate around things like k.y. c.m.l. across your 6 dictionary trading so you can have different jurisdictions with different securities laws still function with each other interface with each other and we're excited about that and when we see like a full rollout of polymath you know right now we still have our main. layer to so so that's polymath and that is still functional if you want to do
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a security talk and when you're to keep that going to be we're doubling down on that we have $120.00 security tokens that have watched on our platform and we're really excited about that growth it's been 2 orders of magnitude of growth since last last year on stage when we announce polymath and now with poly mesh what we're doing is ripping out our current infrastructure which is a theory and replacing it with a brand new purposeful architecture and for timelines right now we don't have a specific date but i'm we're very excited to move as quickly as we can get analogy i like uses phone lines that's where the internet lived in the early days and why why phone lines well it was really one reason it was convenient it was built it works and when users got more demanding and performance demands you know went up it was time to rip out those phone lines and replace it with fiber which is a purpose built custom solution for the net so we say the exact same thing happening in security falcon's where we have this theory and base protocol which is great because it's right in front of us that working with this convenience and now
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that our industry is maturing just like. the internet it's time to use a new infrastructure that's appalling nationally and so to clarify just so i understand if area was there and it was purpose built for its own purpose and people started to use it to branch out on it and build out on it and now you're saying well now we can build our own we don't need it i mean not that we don't need it there is that there is the baseline structure but that's how we could do work here. you know fans and that's exactly right we think that. when it comes to the base layer of security tokens everyone's going to therion right now it's the main reason it's because that's what everyone's doing it's convenient but it's not us saying it's time for an upgrade it's our users it's our regular partner it's our issuers they're coming to us saying it's not going to work we're not comfortable watching on these like giant global permission let's walk change we need something new that's built for us and that was the inspiration behind point and going back to the regulatory concerns to just match that there i mean how how do you make how do we make
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a block chain that is regulatory and why it's friendly versus what we already have out there we're big believers that we don't need new rules for crypto we just got to fit into the existing framework that is exist today securities laws are actually pretty clear there's lots of case law and precedent so what we've done with poly mesh is say how can you give a tool box to all of our issuers all of our partners to help them be compliant and what does that look like it looks like transfer restrictions so only authorized token holders that are accredited for example or certain maximum amount of investors can hold the token at one time and we do that all programatic lee already and what we're doing is bringing that down to the base layer with the poly measurement you fear though that that's what's going to happen i mean like here in the u.s. i. actually just said a week or 2 ago that they were talking about how it's time for clearing houses in the crypto games i mean does that become a problem you know at 1st glance i think that's a little bit redundant and that defeats the purpose of the watching the a bit i have to look at that announcement but i think you know we have to we have
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to read. doesn't really krypto doesn't really help if we're just doing work when you're improvements it's a completely architecture of wall street a lot of the infrastructure of the in the eighty's and now it's time for something new that's that's a purpose built for transactions and that's that's where i think the doctor has. shanghai based neo an open source nonprofit block chain project announced a new york watching week the creation of neo 3.0 a new version of their block chain that will provide better infrastructure for the mass adoption of the platform meanwhile the company has made big strides as they open a new office in seattle in april down with neil co-founder and c.e.o. say about the expansion of their company. new is a public it's a 1st popular book originated from china but today it's already been a very international we have developers communities all around the world it's known
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as the chinese the theory of how do you feel about that we don't like i don't like particularly like. the idea of saying we are the chinese the syrians but we are little we're similar we have small contract you can run your own you can draw a software based. block. but we're very different design philosophy if you need you and other blocks very different our design philosophy is what i call the pragmatic idealism we share the same ideology we block supporters but we are more practical we want to be compatible with. conventional mainstream society the legal system and the financial system if we take out all the other uses a block. for just a moment you kind of see that the user some of the early adopters besides those who were interested in the investment angle of it the early adopters were interested in
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the fact that it was a currency that it was it means. it was different i mean is that a concern when you're trying to bring this ministry i think is there not because of it's our total tive so they invest in this asset i think they are seeing the potential of this our tentative vehicle investment vehicle and i do believe that. will probably change the. paradigm of the internet so we are seeing we experience with this thing a new form of internet the traditional internet server client based centralized we are moving to a decentralized internet that controls their own data. that all the protocols all the data silos will be inter operable with each other so we are in the shift of paradigm i mean we've heard this conversation about a decentralized internet for a decade probably longer than that in the mainstream we've heard about it for
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a decade. i mean how far away are we from an actual actual implementation of any sort of decentralized they were a list 5 years away at list the reason that we are talking decentralized internet for a long time but the reason we didn't see it is because we don't have the proper tools. the proper technology tool and also the into institutional tool to butte and decentralized the internet you know you guys are opening an office. here in the u.s. in seattle i mean how big of a move is that for you to come from. the west coast of the united states i think that's the trend of lot of chinese originated business they're not just doing their business in chinese they're not competing with chinese competitors they're competing in the international stage so that's the same with us we started as a very small group of geek. 4 or 5 of us and now we
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have about. 15 ploy. but the more important part is we have hundreds so maybe sauza of developers for all over the work that are contributing to this new protocol called tribute into the new ecosystem their beauty and the protocol they're also getting at those decentralized implications on top of. for more we turn to our own christiane christine joining us from los angeles. there about the future of crypto crypto is increasingly viewed as a treated as separate asset class and is portfolios it's getting outstanding no one only couple years ago it was regarded almost as a worthless bad how and why is this shift happening. why i think it's really hard to classify something as a fad when it has surpassed $200000000000.00 in market cap but it's actually really difficult to pinpoint exactly when the sentiment shift happened i think for most
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investors it actually happened when they started abusing viewing cryptocurrency as a separate asset class and of itself because it's really actually hard to classify it has the upside profile of an equity it's not exactly a commodity even though it does have aspects of value storage it's not exactly a currency but it does have trades of f.x. in the fact that it's a hedge against currency inflation so they have like different profiles within all that spectrum so it's really difficult to label so now investors are increasing viewing this as a separate asset class that it's necessary to be part of a balanced portfolio because of the fact that the risk profile is so different and so right now the correlation again something like gold is actually quite high it's actually point 7 on the our scale if you look at the correlation between that and gold in low volatility times in the market however equity it's actually a very negative correlation and so this is actually a very good head for most investors trading in the either the us equity or the asian equity markets the fact that crypto currency can be used during very volatile
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time. the stock market is actually a good way of balancing out the portfolio and so you can see in 2017 that there was actually a tremendous outflow from the u.s. equity markets into the cryptocurrency market because people saw this huge potential and then subsequently in 2018 we had one the 1st down years in the u.s. in over a decade so that's when you saw tremendous outflows of u.s. equity markets flow into the cryptocurrency market and you see that entire segment of our game built out you know turkey is still in the midst of a currency crisis and citizens soon to be taking things into their own heads tell us more about that. so right now turkey is still in crisis the lira is still falling it has fallen to a 6 month low against the us dollar and right now it has sustained a 10 percent drop this year year to date in addition to the 28 percent that if fell against the us dollar in $28.00 team so given this the citizens are looking at their feet currency and they look at this actually might be worth less tomorrow so
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they're putting more faith in something like big quiet which actually hold its value as a trade primarily against the u.s. dollar a much more stable or currency. great will that are sitting inside their brand would you take gone well i mean it's great i mean we've seen it like it like christie has mentioned to as we've seen it in africa where it's been big because the currency and banking systems and some of these nations are are so in such disarray that we kind of need to move forward and digital currency that is worldwide really helps things out you know we see minister a lot of examples turkey is just probably the biggest now but we're probably going to see more of this so i know for a quick break we'll be here because when you return one of the great if you could get the best price possible when buying cryptocurrency we could show up with rocky miller c.e.o. a bit see on to discuss their crypto purchasing every gator that they say can help you be sure you buy at the right price plus we often focus on the aspects of watching technology but the test itself has myriad applications are cheap. and
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divorce her down with me killed j c then tell us about the new frontier personalise are the fish or intelligence on the block chain stay right there because we'll be back in a. manufacturing narrative what really happened in syria what is really happening you know read also is the u.k. becoming ungovernable. welcome back to our special deep dive cryptocurrency show we are joined here by
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boom bust christiane brown job or one of the biggest detriments to getting into the crypto game right now is actually buying the cryptocurrency user's different types of digital wallets software downloads and even numerous exchanges and all the choices can be extremely daunting so right now can you just give us the want to one how do people start trading cryptocurrency is. well there are actually 2 ways of trading cryptocurrency is primarily the entire markets actually dominated by crypto to crypto transaction so this automatically assumes that you have a digital has some semblance of crypto currency that you can bank income or into a different form of total currency or all twined if you well so right now the main problem and the main headwind is actually getting the fee out currency to convert into kept on the 1st place so these data while they have massive k y c m l in order to make sure that their clients are legitimate people and that there is no money of laundering which i think is one of the main detriments and one of the main things that regulators are looking at because crypto currency could be used for money
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laundering and in fact and that's why this is actually. one of the main problems of the entire industry is tackling the crypto currency transaction and is it getting any easier to get started. absolutely there are a lot of companies that are making this process more seamless this is one of the biggest ones and they are now in over a loving countries globally and they're making this super easy for consumers because they actually partner with a lot of credit card so now you're actually able to start by buying cryptocurrency using a credit card or pay pal so in that respect they're actually. mobilizing like a lot of people to actually get started right now u.s. dollar is the primary currency against something like that point but the korean one is right on its heels. right and there are a lot of new players joining the cryptocurrency market during concerts as i was lucky enough to sit down with founder and c.e.o. rocky miller to talk about their new smart. the aims to give you the best price win by any number of. liquidity aggregator what that means is if you think about the
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crypto ecosystem there's over $200.00 exchanges and we aggregate the best of those exchanges and so our clients can come on our platform and whatever it is that they want to trade they want to buy because they want to buy a dogecoin car down 0 we will provide them the best pricing of any coin that they want to purchase the way that we're doing it is you know we've been doing a few interviews now and it's been called the kayak i was going to say. exactly so you go in we give you with full transparency before you actually have to buy a button we'll tell you what will it cost you all in with fees on any one of those exchanges that we connect you you can choose which exchange you want to execute your trade but if you want to trust some of our algos which are designed to find you the best execution you can use one of our. algorithms i understand no that's ok we're currently in beta we started a year ago myself and my my co-founder steve where from you know traditional fire.
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we both were at morgan stanley goldman sachs working on equities derivatives and our kind of jump into the rabbit hole of currency started a little over a year ago we started c.n.n. and we're trying to bring things that we've learned in our careers over the last 20 years into into this i mean how much of a difference are we seeing between those exchanges that makes that's a great question so when we're doing some analysis i mean at the peak of it you know there were like $800.00 difference so you know like exchange in korea versus versus an exchange. or an exchange here in the u.s. like like one base so this is the spreads between the prices across the ecosystem could be very very wide whereas you know in the traditional markets people are used spreads and even now if you go into individual markets and you look at their order books you'll find that the spreads are are there they're not crossing each other but when you look across them you'll find that there's
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a lot of opportunities and definitely opportunities to find where you actually want to purchase or are selling you know your your assets and how do you feel like you know this is something very interested in. the transition from the traditional investment world. going into the crypto world how has that transition i think its interests which is great i think for the crypto community it's a great validation you know when someone like j.p. morgan and fidelity. ameritrade comes in and says well we're going to look at the space and not just look at it for a r. and d. project but actually do something with it it's great invalidates the entire ecosystem personally i think the adoption will be slower because banks have with their whole infrastructure that they have you know spend in some cases you know 5060 years building and it's hard to take you know it's like think of it as moving
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from. it takes a while to cut some of this infrastructure and put it into the well and if you you know you look at the traditional banking work you have a lot of these companies that have hundreds of thousands of employees nationwide and so educating them completely on what is going on in the corporate world which is a very complicated space at least right now but it. started by so but i don't know that it's that much. more difficult to understand traditional stock market or securities or i don't think so i mean coming from that side of it it's more difficult i think there's whether people have the motivation appetite to learn and i think initially maybe people dismissed it as a hobbyist you know type of ecosystem but it's you know it's gaining traction every time there's any strife now globally people are looking at. you know digital gold is a phrase that you hear a lot and you know i think as the world gets more and more global this idea of
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a digital currency that is borderless you know starts to get a lot of a lot of eyeballs and a lot of use and you know capital markets will go where capitalism this is if this is a growing ecosystem you know people are sitting within these banks and looking at their growth strategies and i think at this point they would be a little amiss if they did not have a strategy on what they're doing with crypto what they're doing the block chain you know even at the strategic level and in a lot of organizations so this is this is a start it takes it takes a while for people to get there but some great opportunities for us coming in that are you know kind of pushing the envelope. you know we hope in a couple years they'll be more and more people in this race. while cryptocurrency is are the are the most frequently discussed application of block chain knowledge itself has many more uses that are just beginning to be developed spoken consensus with. jane to talk about their breakthroughs and ai and why. this could mean for
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many aspects of your life. because personally i always like to get avatar off yourself and my personal story is that i have young kids at home and whenever i travel which is a lot i realize that they missed me a lot so i thought what if i had a copy back home a copy that looks like me it talks in my wise and my kids can interact with it anytime they want on demand so which is the inspiration of the company and now we have the technology which you can use to make your own avatar which looks like you have talks in your voice is a digital impersonation and it's all made by ai and how so how does that work how much information do i have to provide to get it to talk like me to answer like me and to make those moves in an ai version of bread the 1st thing you do is to make an avatar which looks like you take a selfie in about 2 seconds from your mobile phone. android your visual
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avatar is ready to go and then make your avatar speak in your war yes you can give it some data for example you can speak a few sentences anywhere from like a couple of sentences to up to about 10 and your avatar is not cocking in your voice it can be one scene in your voice as well and you can all start using it so we just announced a new app called high news news in which we actually made an avatar personally i will push. that is reading news on demand through its audience so the users in this case the viewers are now interacting with the avatar and the news is being read to them and in the future they can ask the avatar questions such as this kind of news and the avatar would read back to them so that's the most fundamental engagement between consumers and ai that we have enabled for the world's 1st time so why are
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you trying to tell me the. try to put me out of business because now you don't need me just have a guy that can read the news. different ways of looking at it one of the post ways that it's a very synergistic thing content is always needed a 2nd is that if you have your avatar and you have some content then hopefully you can utilize that to actually make money while you're not looking. for this time we'd like to thank bret job or of christianity joining us from l.a. you can catch us on a boom bust on you tube dot com slash. see next time. all of the years i've talked to you about the insects troll is a show of the economy where humans are becoming like the colony of insects. and that's all enabled by this 5 g. enabled surveillance pretty cool right.
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austria's governing coalition goes into a tailspin as the freedom party says all of its ministers are quitting in the fallout over a video sting against the party leader. testing the limits iran is quadrupling production of low enriched uranium as tension with the u.s. ramps up and the nuclear deal unraveled. to the prosecutors and arrest warrant for julian a song after reopening a rape investigation setting the stage for an extradition fight with the u.s. . by broadcasting live in moscow this is our team.


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