Bitcoin, blockchain and the dream of new money - Founders Valley (3/5) | DW Documentary

Bitcoin, blockchain and the dream of new money – Founders Valley (3/5) | DW Documentary



[Applause] we're just are a small amount so how does it if the dollar and now adjourn how to make money they monitor people who are showing interests to invest so at first they will offer minimum of 250 US dollars as a start of the investment they will see their money growing from day to day that $250 tomorrow it will be around $200 the next day around $500 and when they show interest on investing more that's the time that they will fall to that scheme but on the actual date that we rated them it was actually being shown in a you know in a board that they're earning around a minimum of a million dollars a day coming from all the investors around the world so in bid event an event so Allah made benevento come on I can't believe Antonella startup it's necessary no I mean company because Roger and Ursula if they attended on a long deposit or well invest room it's a client I think people are being victimized by this kind of fraud is because of greed you know they wanting of having more of what they have Trust is what it comes down to ultimately we don't trust each other we can't trust each other it's not in our nature so we created bags to make sure financial transactions go flawlessly to make sure there is no trouble but I believe that the latest with the financial crisis around 2008 it became very clear that even these institutions they are just people in the end human beings tempted by greed they are likely to fall for opportunity they would get in over their head speculating with money they didn't have and this is where the coin came in soared off as this very well timed rebel suggesting a completely new system that hadn't been there before that would eliminate the one thing that we were worried about the one thing that we didn't know how to handle which is trust minimising trust and replacing it with the technology we hadn't seen before Bitcoin or cryptocurrency it opens doors to the people that were not involved in financial actions there are a lot of unbanked people people that then have no access to services that we would take for granted like insurance saving money borrowing money just planning ahead further than the day that they live because they only have money for that day they are living actively okati Mahara de la Cruz a parody total of nine cementerio de touhou banana Acapulco and Eaton Aminata auditor Taleb Nassim in Theriot sake mouselina Newton impaired inanimate inclusion in Ampera 1000 unbelief Unni on a 1000 to two months to pay PO you own stock in yonder column and imposing I'm a painter and an island la única palutena's I belong Anthony Lang mana and I'm a socket and an alumina parents Ohia human upon a large onion over Japan Ganga Alana and moraine bong financially arrow our own ananda to silica bamboo sakunthaia Finnick we began when a man Silla I'm so : proposal by mugginess for cheaper Avalon for negation bubucaca Alonso Komatsu the magnets guys mercy mom Oh Eliza the accessibility nice now mr. Shibata [Applause] nonsense he mama I see people like doctor about wishes have to buy para pasar me but I believe maybe get from man may be gaining a fool you mean but noticing empanadas pull some junk up or I'm not quite up with mr. faladi maybe gain turnable Makka pakka something garden arsenal but there are a lot of overseas workers from the Philippines going to other countries because they can earn more there than they could in the Philippines so even though their salary compared to the global standards is really low even overseas they can send it back to the Philippines the issues that they pay extremely high fees just to remit the money to their families at home where cryptocurrency comes in doctrine technology comes in already is that they can send back the money with cryptocurrencies their family can exchange it in pawn shops where they where they live and the fees are so much lower and that is something that is already happening today and that is just going to develop and improve I believe average amount that a Filipino sends home is $200 they're paid $20 out of that to get that money for their family Bitcoin is really a decentralized financial system doesn't need a government it doesn't have central authority its interoperable its global its borderless basically it's an option for people who are excluded from the existing systems rebid is a platform where people could send money from anywhere in the world in the Philippines using Bitcoin yes so a normal overseas Filipino worker wouldn't know how to use Bitcoin and you know that was one of the first challenges we have and what we did was we partnered with similar services like ribbit but based in you know Canada or South Korea or Hong Kong or Singapore and what they did was they provided a first smile for communities Filipino communities Philippine Overseas workers they were just basically advertised a cheaper faster way to send money to the Philippines making the Bitcoin part invisible so using Bitcoin as a platform we were able to provide a service where you could just easily sign up make an account put in the amount you want to put in put in the pickup option delivery option and then I choose the pawn shop and it's done like I've sent money basically $20 from anywhere in the world to the Philippines and I can go downstairs through the pawn shop pick it up as soon as I get this text message or this email then the Philippines there's 50 million people younger than there are 24 and below and they are tech-savvy they're not afraid of technology they're not afraid of potential in a world they kind of don't trust the banks it's kind of like brewing you know like like it we say like a perfect storm for this kind of technology to take hold hi my name is Selena I am speaker in the rupturing space I support a couple companies the launching companies and I'm the founder of launching in an emerging market like the Philippines there's a neat there's a problem bit God didn't come from Bob Kane where a blockade came from the Bitcoin protocol everybody's dependent trying to figure out for themselves what can we do with this it feels so much power in the community so much Drive and passion for change for development probably one of the biggest reasons is that the people feel what problems they have and they see how they can solve it they see this technology and they understand here is a use case for me to improve my situation they they experience trouble firsthand they experience problems within politics and society firsthand online it's being shown how how Bitcoin grows faster how people get reached to it but how many people also get more losses on it the thing is are you buying to the right people are you investing to the right people are you investing to the right company this is a legitimate company you're only having your transactions online you don't see these people you don't see them in person you don't know where they are that's the characteristic of cybercrime anonymity you know opportunity so I think it's the reason why there's a lot of victims of cybercrime and Bitcoin investment bitcoin was and is being used for fraudulent activities for fake investment schemes for Ponzi schemes and just for scams because it was easy for the people there was a height there is excitement not a lot of knowledge but hope is being put into it so it doesn't only attract good people it attracts bad people as well that then can make a lot of money out of that that is not you know that is just a very small part of the space it doesn't reflect this this technology and what this technology can do the way that blockchain works as opposed to a centralized system is that the information data and control is not in the hand of a centralized entity but it's distributed in copies and we'll notes all over the world these notes are handled independently and anybody that has enough computing power in theory could run a note meaning anybody could take part in the process of verifying transactions and building these block chains this is where the big difference lies because the power and the control is given back to the people plastic is leaching into the ocean even as a child I began to witness debris floating up on the beach the more times the more plastic washed up and early in life I came to understand that it was waste it should be no surprise that plastic is flowing into the ocean from those countries that have extreme poverty and here we are an island nation thousands of islands with very little waste management of course it's leaching into the ocean that's why we're I mean that Punahou nine-years-old paula akana on 964 not only on hungin I am indeed operating upon an analyte guide they cannot open in Monaco you know hi dr. kowambe surah Baqarah Peru Indiana cup octopus rap and indigo synonymous yeah do not begin an opinion Rolla the plastic bank has launched a blockchain based banking application for the poor an opportunity to use plastic as money individual collectors that would otherwise sell to a middleman who then sells to another middleman and who removed the middleman and then we transport directly from the hands of the collector to the recycler all of the extra value that was going to all those middlemen are now shared amongst the collectors I'm parents are mean and plastic Villa Jessie – a black one and I mean Yan live in Tanana mean feel and I know a billion and vodka in the beginning but was among enough Naveen and I'll be by it's a toe big Sakura ent young caucus Nami and para arrow arrow coming in and young Paragon I mean ginagawa kasi Fagin burgundy CaroMont Melinda chemical Taeyang well coming Makoku ha na a guy in aro around we're very very fortunate I am because of all of you the plastic bag is because there's a powerful roadmap ahead for the plastic bank and the application including Financial Inclusion credit rating debt service and the app in this community is used not just to register the collector not just to give a sense of identity but to give a transaction history to give the collector an opportunity to have authentic value exchanged into their account it allows her to have a savings account it allows her to be free of cash it provides additional safety for the home and that material is it's then shipped to a recycling facility well that recycling facility also has now clarity into the entire supply chain out of all of the collection markets how much material and what type of material is in each of those markets and more importantly it's that sense of identity and a savings how powerful to look into a bank account now and see that you actually have value our mobile phone penetration is over 100% another fastest growing in the world instead of making people go to the back let's just put banking into their hands so really not the banks that you need get spanking by putting the the bank in the smartphone it's so much more accessible you know we're not here to kind of disrupt the existing systems we're here to work with them and to connect with them and to like work together this we're all on the same we're all from the Philippines we're on the same country we're all in this together right we want everybody to benefit and by connecting our app to the existing systems you know it makes it it makes that transition easier and it makes people adopting the technology of using these kinds of apps you know not that scary and eventually the goal would be like you know if the apps are really useful and if they work then you don't need to convince people think you're working you're doing that pioneer work there because you're maybe struggling with the image that you know blockchain technology cryptocurrency is this disruptive kind of thing that endangers traditional businesses so what are you doing by working together instead of working against them I think you're doing very important work so are kind of more long term short term long term medium term goal it's really to get as many users as possible maybe at least like four or five million users within the next couple of years and you know just like with anything as soon as you get that critical mass and more people are going to want to use it more people are just going to naturally sign easy I believe blockchain technology will fundamentally change the way our society works in the long run it will enable new processes we can't think of right now but the option is there what it can do is it can include people it can narrow down the gap between rich and poor it can create a new financial system that includes people that helps the entire world and we could get together in a social and inclusive way take part in processes build the economy build society I don't know if we can expect this kind of development in the next years or even decades because it needs more than just technology in the end of the technology we have to adjust on the social level on a mental and societal level

Author:

36 thoughts on “Bitcoin, blockchain and the dream of new money – Founders Valley (3/5) | DW Documentary”

  • The problem isn't necessarily cheap money transfer. The problem is that poverty breeds poverty. I believe in crypto and it's the future. But, shame you missed a much more important connection here than just the transfer of money. It's the transfer of ideas that makes the trash collecting women's children be poor just like her. And their kids, and so on. She has a poor person's mindset and so will anyone who comes after her. Here's a thought – Can't feed your children and need to dig in the trash to do so? Then dont have em. Dont make their lives miserable too. All the miserable faces in this doc are bigger than any transfer of value problem that crypto can solve today.

  • michael cancino says:

    If a company a products main selling point is you being the first. You are not the founder. You are the test subject.

  • In just about 12 months, btc has made a drop of over 80% from a peak of $19,800 to less than $4,000 and i wonder how silly those that kept talking of $100,000 and more look now. Seriously, how much more evidence do we need that cryptocurrencies are purely speculative bubbles that are best treated as such and milked at the moment? The only space for investing is in real companies doing actual business with real currency valuation. My forecast for the long term value of bitcoin is 0$, 0€, 0£, 0¥. Don’t get me wrong, i am not a crypto hater infact, i am above average financially but i still have a strategy which i implement with which i make a minimum of $30,000 monthly for a couple of months already. Even though i get assistance from Mr Mark Hall with trade strategies and signals, i still trade on my own so i don’t have to grant anyone access to my trade account (funds). What i do is seek his opinion on the markets as he is a very seasoned analyst and trader and then i use his signals which are very simple to use in placing trades and in the process, i learn alot from him. You can mail him ([email protected] com) if you need his assistance too. A word of caution, never mix emotion with coins if you want to succeed and you have to be brutal as well i.e sell, buy, and trade when you have to following the rules and always seek help if you are not already a master trader and are not making good and consistent profit on your own already.

  • Norman Mission says:

    im a filipino working here in saudi as a operator and i trade my bitcoin in bitmex so far so good i have 60% return in my capital.

  • Fredrik Gustafsson says:

    This is not a documentary, it does not educate, inform or record an event hapening.
    It is a sales promotion and personal beliefs from people that have an economic intrest in companies using cryptocurrency, and what they think and belive is highly debateble.

    DW I really enjoy your documentaries, but this so called documentary is utterly crap.

  • DigiByte anticipated the scalability issues that would plague Bitcoin adoption, so DGB designed its blockchain to handle Visa/Mastercard levels of volume, all while keeping transactions on the blockchain. The problem with the Lightning Network is that it is an off-chain (meaning outside the blockchain) "solution". This is no solution at all, for if off-chain solutions are okay, we might as well stick with Visa/Mastercard because they're already digital and lightning quick. Also, LN risks centralization because it'll have centralized hubs. If you believe in the true spirit of crypto, you should reconsider the merits of Lightning Network. BTC is awesome, but I think it's going to act more as a very lucrative store of value (gold). When it comes to day-to-day cheap transactions, DigiByte will dominate.

    DigiByte is sooooo undervalued. People heavily invested in tokens (who don't even own their own blockchains) are missing out on DGB's decentralized high-speed UTXO blockchain. When people intend to wake up?

  • Really DW ?. Youtube is full of drone videos and showing girlfriend in the beach all time, and seems you are doing the similar with this girl.. This trend is getting boring.

  • Srikanth Sanapala says:

    Global BlockChain Market – Size, Outlook, Trends and Forecasts (2019 – 2025)

    The global blockchain market was valued at $XX Billion in 2017 and is estimated to reach $XX Billion by 2025, at a CAGR of XX% during 2019-2025.

    keyplayers:

    @awscloud

    @IBMMEA

    @MicrosoftIndia

    @Ripple

    Download a Sample Report at:- https://www.envisioninteligence.com/industry-report/global-blockchain-market/?utm_source=youtube-srikanth

  • Drahoslav Páluš says:

    I really love artistic approach to this theme. There are already tons of technical documents so please more like this, it's very refreshing! Thank you

  • Bitcoin is not some sort of magical thing. The reality is it is like normal money, except without all the protections.

  • Marcel Inwisible says:

    U didint see deference betwen blockchain and cryptocurrency? blockchain basicly didint need curency, but currency can help blockchain be beveloped…

  • Dear DW, it seems a number of people did not gather the real meaning here. I personally think it is done fabolous.

  • Dear Mrs Seiche, one day you will wake up and see how wrong it is. But then it is already to late. Because you will find yourself having participated on a system cheating millions of poor people on the few dollars they had.

  • I understand the disappointment of some people, the documentary should have been titled a little more specific like "Bitcoin – Blockchain and the dream of new money for remittances". I have a decent knowledge on cryptocurrencies, but more in Financial world and the Philippines (I'd lived there for a couple of years). Some people complained here on the parts of talking on poverty in the Philippines, it was needed to understand that the fees that banks charge is unbearable for millions but yes, mixing the cemetery cohabitants (a rare phenomena yet not strange at all) and the kids left alone behind (an severe and widespread problem) is confusing for the audience of DW.

    One thing is important to make, Lina mentioned that started with the financial depression of 2008, no quite true, the advance of Bitcoin was quite progressive even before 2008. The 2008 crisis made many realize banks are not to be so trusted for deposits (oh maybe yes, since they were baled out…) but banks were quite fine for transactions still. Bitcoin, so far, it lest trusted as a capital reserve than most currencies and banks, but excellent for rapid transactions for foreign countries were high fees and taxes are affecting those more in need.

  • Another misleading doc on Bitcoin and blockchain. Bitcoin has been around for almost a decade now. Thought it has established itself as money alternative, it failed miserably to provide any benefits over fiat. Now, in it's ten year history who benefited the most from Bitcoin? Can you name any poor nation or any low income family that benefited from it? I can think of Coinbase, Roger Ver and his Bitmain gang, Circle and other rich investors and institutions from not so poor nations who made millions in fiat money by selling their Bitcoin/blockchain dream.

  • Is it advertising? It is advertising. The film does not propose an independent point of view. He simply says, “Bitcoin is a good thing and good an investment”. But is this really a good thing? I doubt.
    First of all, Bitcoin does not solve Philippines problems because the key problem places within the government itself. Maybe it is a corruption or an ineffective political system. So if the people of the Philippines do not solve these problems they will continue staying in a poor economic condition and will be remaining a poor nation.
    The second problem is the weak state of Bitcoin itself. In recent months Bitcoin has dropped its value about 50%. So people have become more uncertain about their own the future and plus they have lost about 50% its wealth. This means Bitcoin it is not strong a currency or an asset.

  • CryptoGuard (particl.io) says:

    Bitcoin has been the best store of value of the last decade. You know, Bitcoin went through many speculative bubbles, ups and downs, and everytime people who didn't "get it" jump on the first occasion to point out when the price goes down. These are the same people that miss the next rise, get mad about it, and try to convince themselves Bitcoin is a scam.

    I saw this happened from $30 to $1, from $320 to $90, from $1,250 to $2-300, and now again today from $19,950 to $3,200. Don't you see a pattern? Bitcoin is an asset like never before. It had no "IPO", no original price, no indication of what it would ever be worth. The result is that Bitcoin is still very much in price discovery phase, even after 10 years. It does fix very important issues with centralized currency issuance, whether you like the ups and downs or not.

    In this documentary, they show how you can send $100 to the Philippines and they still receive $100. Who cares about volatility if the in and out transfer of fiat value into Bitcoin lasts no more than a few minutes? I can send Bitcoin to anyone in the Philippines right now and they can cash it out like 10 minutes later. You don't even need to hold Bitcoin to do this.

    People don't understand what Bitcoin is. Is it a currency? Is it a store of value? Is it stock? Is it a payment processing protocol? It's all of the above, it's never been done before and it keeps getting more revolutionary by the day.

    It's the same emotional cycle again and again. Price crashing, haters come out and try to convince themselves they did a good thing ignoring the biggest revolution in humanity since the internet, and they shut up the very next rise in price. Rinse and repeat, and get left behind. In the end, not using Bitcoin today is like not using the internet at its very beginning. We're all going to end up using in a way or in an other somewhere in the future.

  • robert caruso says:

    it is not greed normal investors are making money these new crypto-currency platforms are just not paying out there taking it for themselves so therefore they are greedy there's enough for everybody that's why Satoshi designed it that way it's the old heads we need to get rid of

  • James Hancock says:

    After watching this, i understood better the benefit of crypt o currency. I thought, as many, that it was more like an investment. I could see borrowing money cheaper than we see in our current system.and basically taking the bank out of the loop. I see it leveling the playing field and giving an opportunity for upward mobility. There is always going to be greed, scams and abuse anytime money is involved, but that does not mean that this isn't a good idea. Safety and security and continuity would be my biggest concerns.

  • What does waste management have anything to do with the type of fiat currency we should use?? These people are going to poor countries with uneducated people to exploit them. So sad. Go get a real job. Produce something. Service something. Create value in the world. Tricking people into buying digital coins without any real value is a crime. Middle man? The currency has nothing to do with a middle man. This is so sad.

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