ibaka ba nee halma and thanks for having me my name is Mark and I’ve been living
me my name is Mark and I’ve been living
me my name is Mark and I’ve been living out in Malaysia as a technology
out in Malaysia as a technology
out in Malaysia as a technology consultant for the past 19 years now I
consultant for the past 19 years now I
consultant for the past 19 years now I actually wanted to come here originally
actually wanted to come here originally
actually wanted to come here originally to talk about just Bitcoin which is a
to talk about just Bitcoin which is a
to talk about just Bitcoin which is a digital currency a digital peer-to-peer
digital currency a digital peer-to-peer
digital currency a digital peer-to-peer currency that allows people to make
currency that allows people to make
currency that allows people to make payments directly between each other
payments directly between each other
payments directly between each other without any central source or Authority
without any central source or Authority
without any central source or Authority printing it the problem is it’s quite
printing it the problem is it’s quite
printing it the problem is it’s quite complicated and as I was having my own
complicated and as I was having my own
complicated and as I was having my own adventures through the Bitcoin world I
adventures through the Bitcoin world I
adventures through the Bitcoin world I bought my first Bitcoin five years ago
bought my first Bitcoin five years ago
bought my first Bitcoin five years ago there’s actually a lot I learnt about
there’s actually a lot I learnt about
there’s actually a lot I learnt about the real world in the process and it’s
the real world in the process and it’s
the real world in the process and it’s that journey that I’d really like to
that journey that I’d really like to
that journey that I’d really like to share with you today so I love my wife
share with you today so I love my wife
share with you today so I love my wife very much but the one thing we always
very much but the one thing we always
very much but the one thing we always argue about is money not just about how
argue about is money not just about how
argue about is money not just about how little we have or what we spend it on
little we have or what we spend it on
little we have or what we spend it on but more importantly where does the
but more importantly where does the
but more importantly where does the value come from especially on the
value come from especially on the
value come from especially on the international markets when you look at
international markets when you look at
international markets when you look at different currencies there’s always a
different currencies there’s always a
different currencies there’s always a misconception that the higher that the
misconception that the higher that the
misconception that the higher that the value of the note the more more it must
value of the note the more more it must
value of the note the more more it must be worth the problem is that’s not
be worth the problem is that’s not
be worth the problem is that’s not always true so what happened in Zimbabwe
always true so what happened in Zimbabwe
always true so what happened in Zimbabwe during their financial collapse was at
during their financial collapse was at
during their financial collapse was at the end of the day it actually cost them
the end of the day it actually cost them
the end of the day it actually cost them 35 quadrillion dollars in order to have
35 quadrillion dollars in order to have
35 quadrillion dollars in order to have the same value as one US dollar and at
the same value as one US dollar and at
the same value as one US dollar and at that time during the collapse a can of
that time during the collapse a can of
that time during the collapse a can of coke was $40 40 US dollars so you can
coke was $40 40 US dollars so you can
coke was $40 40 US dollars so you can imagine these guys had to carry
imagine these guys had to carry
imagine these guys had to carry wheelbarrows filled with cash to go
wheelbarrows filled with cash to go
wheelbarrows filled with cash to go shopping and it kind of didn’t make
shopping and it kind of didn’t make
shopping and it kind of didn’t make sense so a Zimbabwean not alone Kenya
sense so a Zimbabwean not alone Kenya
sense so a Zimbabwean not alone Kenya also suffered from these same problems
also suffered from these same problems
also suffered from these same problems in Kenya you know they were the amongst
in Kenya you know they were the amongst
in Kenya you know they were the amongst the first to really understand how
the first to really understand how
the first to really understand how expensive it is to be poor not only do
expensive it is to be poor not only do
expensive it is to be poor not only do we spend about a trillion dollars Glo
we spend about a trillion dollars Glo
we spend about a trillion dollars Glo printing and moving cash around you know
printing and moving cash around you know
printing and moving cash around you know all the way through two vans filled with
all the way through two vans filled with
all the way through two vans filled with cash and guys with guns protecting that
cash and guys with guns protecting that
cash and guys with guns protecting that it’s very expensive and on average we
it’s very expensive and on average we
it’s very expensive and on average we spend about thirty full days of our
spend about thirty full days of our
spend about thirty full days of our lives
lives
lives walking to ATM machines or waiting in
walking to ATM machines or waiting in
walking to ATM machines or waiting in lines at banks and the problem is this
lines at banks and the problem is this
lines at banks and the problem is this is even worse the poorer you are
is even worse the poorer you are
is even worse the poorer you are especially if you don’t have a bank
especially if you don’t have a bank
especially if you don’t have a bank account you spend even more time at the
account you spend even more time at the
account you spend even more time at the bank waiting to cash those checks in
bank waiting to cash those checks in
bank waiting to cash those checks in Kenya the only thing that’s really
Kenya the only thing that’s really
Kenya the only thing that’s really relevant is time because time is
relevant is time because time is
relevant is time because time is constant and it’s really this is the
constant and it’s really this is the
constant and it’s really this is the thing of software engineering rather
thing of software engineering rather
thing of software engineering rather than economics in economics classes they
than economics in economics classes they
than economics in economics classes they tend to teach you things that are really
tend to teach you things that are really
tend to teach you things that are really complicated to explain and even
complicated to explain and even
complicated to explain and even pronounce quantitative easing for
pronounce quantitative easing for
pronounce quantitative easing for example and inflation what does it
example and inflation what does it
example and inflation what does it really mean at the end of the day it’s
really mean at the end of the day it’s
really mean at the end of the day it’s just a central bank printing more money
just a central bank printing more money
just a central bank printing more money as required to kind of emulate economic
as required to kind of emulate economic
as required to kind of emulate economic growth it’s all an experiment really
growth it’s all an experiment really
growth it’s all an experiment really speaking of which Japan just last week
speaking of which Japan just last week
speaking of which Japan just last week they suddenly decided that the
they suddenly decided that the
they suddenly decided that the experiment was over and that
experiment was over and that
experiment was over and that quantitative easing was a complete
quantitative easing was a complete
quantitative easing was a complete failure doesn’t work from a
failure doesn’t work from a
failure doesn’t work from a international perspective quantitative
international perspective quantitative
international perspective quantitative easing
easing
easing makes it harder for us to go abroad
makes it harder for us to go abroad
makes it harder for us to go abroad because it makes our ringgit less
because it makes our ringgit less
because it makes our ringgit less effective domestically it just means
effective domestically it just means
effective domestically it just means that we can’t buy as much as we used to
that we can’t buy as much as we used to
that we can’t buy as much as we used to be able to when I showed up in Malaysia
be able to when I showed up in Malaysia
be able to when I showed up in Malaysia 19 years ago I was on the seconds note
19 years ago I was on the seconds note
19 years ago I was on the seconds note and I was able to buy a full shopping
and I was able to buy a full shopping
and I was able to buy a full shopping cart full of things for fifty ringgit
cart full of things for fifty ringgit
cart full of things for fifty ringgit now we can just buy oil
so going back to Kenya what did they do
so going back to Kenya what did they do software took over again because in
software took over again because in
software took over again because in Kenya time is the only thing that’s
Kenya time is the only thing that’s
Kenya time is the only thing that’s relevant and over time everything
relevant and over time everything
relevant and over time everything changes m-pesa was able to get 17
changes m-pesa was able to get 17
changes m-pesa was able to get 17 million subscribers on board within the
million subscribers on board within the
million subscribers on board within the first 12 months and now there’s more
first 12 months and now there’s more
first 12 months and now there’s more people that use the bus to transfer
people that use the bus to transfer
people that use the bus to transfer money between each other than they do
money between each other than they do
money between each other than they do the banks so where does this journey go
the banks so where does this journey go
the banks so where does this journey go to we’re here to talk about Bitcoin I
to we’re here to talk about Bitcoin I
to we’re here to talk about Bitcoin I originally wanted to just talk about
originally wanted to just talk about
originally wanted to just talk about Bitcoin and when I do I always start
Bitcoin and when I do I always start
Bitcoin and when I do I always start here on the island of Yap strangely
here on the island of Yap strangely
here on the island of Yap strangely enough because on the island of Yap they
enough because on the island of Yap they
enough because on the island of Yap they had no natural resources of their own
had no natural resources of their own
had no natural resources of their own nothing of precious so they had to
nothing of precious so they had to
nothing of precious so they had to import these huge lime stones these rice
import these huge lime stones these rice
import these huge lime stones these rice stones and rolling these stones down to
stones and rolling these stones down to
stones and rolling these stones down to the shop to buy some Rhodey China you
the shop to buy some Rhodey China you
the shop to buy some Rhodey China you can imagine it was a bit of a hassle so
can imagine it was a bit of a hassle so
can imagine it was a bit of a hassle so they actually came upon this really good
they actually came upon this really good
they actually came upon this really good invention what they did was create the
invention what they did was create the
invention what they did was create the world’s first public ledger and that’s
world’s first public ledger and that’s
world’s first public ledger and that’s what Bitcoin and the blockchain czar a
what Bitcoin and the blockchain czar a
what Bitcoin and the blockchain czar a public ledger it was just a field but
public ledger it was just a field but
public ledger it was just a field but they stuck all the stones in the field
they stuck all the stones in the field
they stuck all the stones in the field and as a result everybody in the
and as a result everybody in the
and as a result everybody in the community knew exactly what was in that
community knew exactly what was in that
community knew exactly what was in that monetary supply
monetary supply
monetary supply you couldn’t just print new stones to
you couldn’t just print new stones to
you couldn’t just print new stones to try to stimulate growth you had to bring
try to stimulate growth you had to bring
try to stimulate growth you had to bring them in transferring money between
them in transferring money between
them in transferring money between individuals in this community was quite
individuals in this community was quite
individuals in this community was quite literally a song and a dance but another
literally a song and a dance but another
literally a song and a dance but another thing that they innovated in was this
thing that they innovated in was this
thing that they innovated in was this concept of group consensus and group
concept of group consensus and group
concept of group consensus and group consensus is used today throughout all
consensus is used today throughout all
consensus is used today throughout all technological solutions especially those
technological solutions especially those
technological solutions especially those that are distributed it required the the
that are distributed it required the the
that are distributed it required the the majority of the village to all be there
majority of the village to all be there
majority of the village to all be there at the same time to sort of declare
at the same time to sort of declare
at the same time to sort of declare where these stones were being
where these stones were being
where these stones were being transferred to but they never actually
transferred to but they never actually
transferred to but they never actually moved they were always just in the
moved they were always just in the
moved they were always just in the square in the end the island of Yap they
square in the end the island of Yap they
square in the end the island of Yap they had to switch to u.s. dollars as a lot
had to switch to u.s. dollars as a lot
had to switch to u.s. dollars as a lot of places do and when people think of US
of places do and when people think of US
of places do and when people think of US dollars or just money in general there’s
dollars or just money in general there’s
dollars or just money in general there’s often this thought that it’s act by
often this thought that it’s act by
often this thought that it’s act by something but it’s real and when it did
something but it’s real and when it did
something but it’s real and when it did it started off real the first banks that
it started off real the first banks that
it started off real the first banks that opened in the world how they worked was
opened in the world how they worked was
opened in the world how they worked was you used to give them your gold and they
you used to give them your gold and they
you used to give them your gold and they would give you a piece
would give you a piece
would give you a piece paper to say that they know you they
paper to say that they know you they
paper to say that they know you they would pay you back at wonder one time
would pay you back at wonder one time
would pay you back at wonder one time it’s gold and other physical assets very
it’s gold and other physical assets very
it’s gold and other physical assets very few people actually understood that once
few people actually understood that once
few people actually understood that once you gave the bank your money it’s no
you gave the bank your money it’s no
you gave the bank your money it’s no longer your money their money you hope
longer your money their money you hope
longer your money their money you hope that they’ll pay you back one day when
that they’ll pay you back one day when
that they’ll pay you back one day when you need it and they usually do but you
you need it and they usually do but you
you need it and they usually do but you can ask Greece how that worked out
so who owns the world’s money it’s
so who owns the world’s money it’s really frightening in 2014 Oxfam
really frightening in 2014 Oxfam
really frightening in 2014 Oxfam concluded that the eighty-five most
concluded that the eighty-five most
concluded that the eighty-five most richest people on the planet had more
richest people on the planet had more
richest people on the planet had more money than the poorest 3.5 billion
money than the poorest 3.5 billion
money than the poorest 3.5 billion people that’s a huge despair ensue and
people that’s a huge despair ensue and
people that’s a huge despair ensue and that’s only gonna get worse over time if
that’s only gonna get worse over time if
that’s only gonna get worse over time if you think of automation services
you think of automation services
you think of automation services artificial intelligence robotics
artificial intelligence robotics
artificial intelligence robotics automatic manufacturing only those that
automatic manufacturing only those that
automatic manufacturing only those that have money can afford to invest in those
have money can afford to invest in those
have money can afford to invest in those things and I think I’ve become richer
things and I think I’ve become richer
things and I think I’ve become richer and richer but what’s even more
and richer but what’s even more
and richer but what’s even more interesting than who owns the world’s
interesting than who owns the world’s
interesting than who owns the world’s money is where is that world’s money
money is where is that world’s money
money is where is that world’s money what’s it made of
what’s it made of
what’s it made of again a lot of people assume it’s real
again a lot of people assume it’s real
again a lot of people assume it’s real it’s physical gold or something it was
it’s physical gold or something it was
it’s physical gold or something it was in the old days it’s not anymore
in the old days it’s not anymore
in the old days it’s not anymore there was stock markets were one of the
there was stock markets were one of the
there was stock markets were one of the first centralized digital assets to kind
first centralized digital assets to kind
first centralized digital assets to kind of exist that just invented money sixty
of exist that just invented money sixty
of exist that just invented money sixty trillion dollars worth of value there in
trillion dollars worth of value there in
trillion dollars worth of value there in the stock markets compared to 20
the stock markets compared to 20
the stock markets compared to 20 trillion dollars worth of physical
trillion dollars worth of physical
trillion dollars worth of physical assets that we really have but that was
assets that we really have but that was
assets that we really have but that was nothing compared to the derivatives
nothing compared to the derivatives
nothing compared to the derivatives market I’m not sure if you’ve heard
market I’m not sure if you’ve heard
market I’m not sure if you’ve heard about the derivatives or no if you’ve
about the derivatives or no if you’ve
about the derivatives or no if you’ve not there’s a really good movie you can
not there’s a really good movie you can
not there’s a really good movie you can watch it’s called the Big Shot it has
watch it’s called the Big Shot it has
watch it’s called the Big Shot it has Brad Pitt for the ladies out there so no
Brad Pitt for the ladies out there so no
Brad Pitt for the ladies out there so no excuse not to learn but the derivatives
excuse not to learn but the derivatives
excuse not to learn but the derivatives market is nearly seven hundred trillion
market is nearly seven hundred trillion
market is nearly seven hundred trillion dollars of value that that’s what props
dollars of value that that’s what props
dollars of value that that’s what props up our entire world at the moment almost
up our entire world at the moment almost
up our entire world at the moment almost and it’s just regurgitated yet yet it’s
and it’s just regurgitated yet yet it’s
and it’s just regurgitated yet yet it’s it’s frightening and of course this all
it’s frightening and of course this all
it’s frightening and of course this all ended in tears
ended in tears
ended in tears in 2008 the financial bailout more money
in 2008 the financial bailout more money
in 2008 the financial bailout more money was spent on companies on bonuses
was spent on companies on bonuses
was spent on companies on bonuses banking bonuses than every single world
banking bonuses than every single world
banking bonuses than every single world war and space project combined and it
war and space project combined and it
war and space project combined and it really upset a lot of people including
really upset a lot of people including
really upset a lot of people including myself
myself
myself I’m not even American right but it
I’m not even American right but it
I’m not even American right but it really got to me and this is what
really got to me and this is what
really got to me and this is what started Bitcoin what started the block
started Bitcoin what started the block
started Bitcoin what started the block Jones some people might have heard about
Jones some people might have heard about
Jones some people might have heard about Bitcoin some of you might have heard
Bitcoin some of you might have heard
Bitcoin some of you might have heard about blocked chains they’re different
about blocked chains they’re different
about blocked chains they’re different things but they’re also connected let me
things but they’re also connected let me
things but they’re also connected let me explain you could think of the block
explain you could think of the block
explain you could think of the block chains as the underlying data storage
chains as the underlying data storage
chains as the underlying data storage it’s the ledger where as bitcoin is the
it’s the ledger where as bitcoin is the
it’s the ledger where as bitcoin is the first successful digital asset that’s
first successful digital asset that’s
first successful digital asset that’s been traded on this ledger it’s been
been traded on this ledger it’s been
been traded on this ledger it’s been around for 90
around for 90
around for 90 now no one actually knows who created it
now no one actually knows who created it
now no one actually knows who created it was invented by a pseudonymous person a
was invented by a pseudonymous person a
was invented by a pseudonymous person a man/woman entity maybe we don’t know
man/woman entity maybe we don’t know
man/woman entity maybe we don’t know named
named
named name of the name Satoshi Nakamoto but in
name of the name Satoshi Nakamoto but in
name of the name Satoshi Nakamoto but in the white paper they did cite that the
the white paper they did cite that the
the white paper they did cite that the financial bailout was the reason for
financial bailout was the reason for
financial bailout was the reason for this what’s most interesting I’d say
this what’s most interesting I’d say
this what’s most interesting I’d say it’s the technology behind it and we all
it’s the technology behind it and we all
it’s the technology behind it and we all assume it’s going to be something really
assume it’s going to be something really
assume it’s going to be something really revolutionary and breakthrough but as a
revolutionary and breakthrough but as a
revolutionary and breakthrough but as a technologist what was really comforting
technologist what was really comforting
technologist what was really comforting to find out
to find out
to find out it’s just how normal this thing is it’s
it’s just how normal this thing is it’s
it’s just how normal this thing is it’s created out of three sort of base
created out of three sort of base
created out of three sort of base technologies that have been around for a
technologies that have been around for a
technologies that have been around for a long time some of those were first
long time some of those were first
long time some of those were first theorized in the 1800s and some by the
theorized in the 1800s and some by the
theorized in the 1800s and some by the US Navy some even by Napster the most
US Navy some even by Napster the most
US Navy some even by Napster the most recent piece of the pie really is the
recent piece of the pie really is the
recent piece of the pie really is the Napster bit peer-to-peer technology but
Napster bit peer-to-peer technology but
Napster bit peer-to-peer technology but what you’ve got to remember is that if
what you’ve got to remember is that if
what you’ve got to remember is that if any of these security algorithms get
any of these security algorithms get
any of these security algorithms get broken the entire world breaks not just
broken the entire world breaks not just
broken the entire world breaks not just Bitcoin the Internet’s running on
Bitcoin the Internet’s running on
Bitcoin the Internet’s running on elliptic curve cryptography every
elliptic curve cryptography every
elliptic curve cryptography every password we have in databases around the
password we have in databases around the
password we have in databases around the world is protected by a hash so if those
world is protected by a hash so if those
world is protected by a hash so if those things get broken we’re in trouble
things get broken we’re in trouble
things get broken we’re in trouble and so what was there before Bitcoin and
and so what was there before Bitcoin and
and so what was there before Bitcoin and blockchain and distributed networks
blockchain and distributed networks
blockchain and distributed networks these are the known network topologies
these are the known network topologies
these are the known network topologies so I mean there’s much more to Bitcoin
so I mean there’s much more to Bitcoin
so I mean there’s much more to Bitcoin than just the money side of things for
than just the money side of things for
than just the money side of things for me it’s really about the data storage
me it’s really about the data storage
me it’s really about the data storage side and I’ve been involved with
side and I’ve been involved with
side and I’ve been involved with databases now for about 15 years in the
databases now for about 15 years in the
databases now for about 15 years in the old days there was only centralized
old days there was only centralized
old days there was only centralized systems and centralized databases the
systems and centralized databases the
systems and centralized databases the problem with that is when you take out
problem with that is when you take out
problem with that is when you take out that central controller or you change
that central controller or you change
that central controller or you change that central controller everything else
that central controller everything else
that central controller everything else goes down or is affected as a result so
goes down or is affected as a result so
goes down or is affected as a result so some bright sparks invented the cloud
some bright sparks invented the cloud
some bright sparks invented the cloud the thing is the clouds not really new
the thing is the clouds not really new
the thing is the clouds not really new technology for me I’ve been playing
technology for me I’ve been playing
technology for me I’ve been playing around with the cloud 15 20 years now
around with the cloud 15 20 years now
around with the cloud 15 20 years now and it’s only just become popular
and it’s only just become popular
and it’s only just become popular everyone’s kind of heard about it but no
everyone’s kind of heard about it but no
everyone’s kind of heard about it but no one really understands how it works and
one really understands how it works and
one really understands how it works and it introduced new problems if you
it introduced new problems if you
it introduced new problems if you intercept communication between sub sub
intercept communication between sub sub
intercept communication between sub sub clusters you take down those entire sub
clusters you take down those entire sub
clusters you take down those entire sub clusters and those are usually
clusters and those are usually
clusters and those are usually geographical in nature which is why they
geographical in nature which is why they
geographical in nature which is why they invented distributed networks
invented distributed networks
invented distributed networks distributed networks are designed to
distributed networks are designed to
distributed networks are designed to they’re designed for nodes to come in
they’re designed for nodes to come in
they’re designed for nodes to come in and out of the network or down so long
and out of the network or down so long
and out of the network or down so long as two nodes are still active the entire
as two nodes are still active the entire
as two nodes are still active the entire network still functions and that’s all
network still functions and that’s all
network still functions and that’s all the Bitcoin and the blockchain
the Bitcoin and the blockchain
the Bitcoin and the blockchain technology is it’s just a collection of
technology is it’s just a collection of
technology is it’s just a collection of nodes it’s just a distributed network in
nodes it’s just a distributed network in
nodes it’s just a distributed network in that network everybody’s equal no one’s
that network everybody’s equal no one’s
that network everybody’s equal no one’s in charge everybody has a copy of
in charge everybody has a copy of
in charge everybody has a copy of everything and so long as the group
everything and so long as the group
everything and so long as the group consensus agrees along 51% says that you
consensus agrees along 51% says that you
consensus agrees along 51% says that you have something you do on average that on
have something you do on average that on
have something you do on average that on and on any one time there’s about five
and on any one time there’s about five
and on any one time there’s about five to ten thousand active nodes mining in
to ten thousand active nodes mining in
to ten thousand active nodes mining in the network protecting it securing the
the network protecting it securing the
the network protecting it securing the transaction this is just one of those
transaction this is just one of those
transaction this is just one of those 10,000 nodes it’s a liquid nitrogen
10,000 nodes it’s a liquid nitrogen
10,000 nodes it’s a liquid nitrogen mined in China the blue is liquid
mined in China the blue is liquid
mined in China the blue is liquid nitrogen inside the liquid nitrogen of
nitrogen inside the liquid nitrogen of
nitrogen inside the liquid nitrogen of the computer chips and the liquid
the computer chips and the liquid
the computer chips and the liquid nitrogen is bubbling because these
nitrogen is bubbling because these
nitrogen is bubbling because these computer chips are doing so much hashing
computer chips are doing so much hashing
computer chips are doing so much hashing power again one of just 10,000 nodes out
power again one of just 10,000 nodes out
power again one of just 10,000 nodes out there and all these nodes are doing one
there and all these nodes are doing one
there and all these nodes are doing one thing they’re protecting the network so
thing they’re protecting the network so
thing they’re protecting the network so things have got really interesting this
things have got really interesting this
things have got really interesting this year I mean I’ve been playing around
year I mean I’ve been playing around
year I mean I’ve been playing around with Bitcoin for five years myself it’s
with Bitcoin for five years myself it’s
with Bitcoin for five years myself it’s been out for a but into fact this this
been out for a but into fact this this
been out for a but into fact this this year alone we’ve had over a hundred
year alone we’ve had over a hundred
year alone we’ve had over a hundred banks internationally declare some kind
banks internationally declare some kind
banks internationally declare some kind of blockchain project over a billion
of blockchain project over a billion
of blockchain project over a billion dollars in funding has come into the
dollars in funding has come into the
dollars in funding has come into the ecosystem and it’s why we have people
ecosystem and it’s why we have people
ecosystem and it’s why we have people such as Bill Gates and Sir Richard
such as Bill Gates and Sir Richard
such as Bill Gates and Sir Richard Branson or claiming that this is the
Branson or claiming that this is the
Branson or claiming that this is the most important technology to arise since
most important technology to arise since
most important technology to arise since the internet it’s now being used for
the internet it’s now being used for
the internet it’s now being used for much more than money people are
much more than money people are
much more than money people are protecting their are protecting
protecting their are protecting
protecting their are protecting intellectual property there’s even some
intellectual property there’s even some
intellectual property there’s even some countries that are storing Land Registry
countries that are storing Land Registry
countries that are storing Land Registry on the block towns in fact a little bit
on the block towns in fact a little bit
on the block towns in fact a little bit closer to home just two days ago in
closer to home just two days ago in
closer to home just two days ago in Singapore the Central Bank of Singapore
Singapore the Central Bank of Singapore
Singapore the Central Bank of Singapore declared their first blockchain project
declared their first blockchain project
declared their first blockchain project and are now working with six different
and are now working with six different
and are now working with six different banks to issue digital currencies in
banks to issue digital currencies in
banks to issue digital currencies in Malaysia we also have a few first in KL
Malaysia we also have a few first in KL
Malaysia we also have a few first in KL we have a nasi lemak place you can buy
we have a nasi lemak place you can buy
we have a nasi lemak place you can buy using Bitcoin and in fact we also have
using Bitcoin and in fact we also have
using Bitcoin and in fact we also have the world’s first licensed equity
the world’s first licensed equity
the world’s first licensed equity crowdfunding platform in Malaysia
crowdfunding platform in Malaysia
crowdfunding platform in Malaysia Malaysia was the first in Southeast Asia
Malaysia was the first in Southeast Asia
Malaysia was the first in Southeast Asia to regulate equity crowdfunding and we
to regulate equity crowdfunding and we
to regulate equity crowdfunding and we have a company here that’s accepting
have a company here that’s accepting
have a company here that’s accepting Bitcoin for investments called at a plus
Bitcoin for investments called at a plus
Bitcoin for investments called at a plus but why is everyone getting in a fuss
but why is everyone getting in a fuss
but why is everyone getting in a fuss what’s the big thing well it’s these
what’s the big thing well it’s these
what’s the big thing well it’s these four things but for me it’s really that
four things but for me it’s really that
four things but for me it’s really that top one
top one
top one it’s for the first time we have this
it’s for the first time we have this
it’s for the first time we have this immutable tamper-proof audit trail it
immutable tamper-proof audit trail it
immutable tamper-proof audit trail it can often get overlooked how important
can often get overlooked how important
can often get overlooked how important this is so if you take a step back out
this is so if you take a step back out
this is so if you take a step back out of the blockchains again and you look at
of the blockchains again and you look at
of the blockchains again and you look at the real world databases every single
the real world databases every single
the real world databases every single web application desktop application
web application desktop application
web application desktop application mobile government agency they’re all
mobile government agency they’re all
mobile government agency they’re all powered by databases and databases are
powered by databases and databases are
powered by databases and databases are really only as secure as the person that
really only as secure as the person that
really only as secure as the person that created them the IT department in charge
created them the IT department in charge
created them the IT department in charge very easy to accidentally delete a
very easy to accidentally delete a
very easy to accidentally delete a database with a few strokes or you
database with a few strokes or you
database with a few strokes or you sometimes hear about viruses affecting
sometimes hear about viruses affecting
sometimes hear about viruses affecting entire departments full of information
entire departments full of information
entire departments full of information the big breakthrough with blockchain
the big breakthrough with blockchain
the big breakthrough with blockchain technology is that once you put
technology is that once you put
technology is that once you put information into a blockchain it can
information into a blockchain it can
information into a blockchain it can never be removed it can never be changed
never be removed it can never be changed
never be removed it can never be changed and it can never be lost
and it can never be lost
and it can never be lost this isn’t massive this is a really big
this isn’t massive this is a really big
this isn’t massive this is a really big thing an open network without anyone can
thing an open network without anyone can
thing an open network without anyone can join and participate in it’s probably
join and participate in it’s probably
join and participate in it’s probably why we have people such as price water
why we have people such as price water
why we have people such as price water Coopers saying that although fintechs
Coopers saying that although fintechs
Coopers saying that although fintechs disrupting the banks it’s really
disrupting the banks it’s really
disrupting the banks it’s really blockchain that’s disrupting in tech so
blockchain that’s disrupting in tech so
blockchain that’s disrupting in tech so yes I’m a bit of a Trekkie and it’s not
yes I’m a bit of a Trekkie and it’s not
yes I’m a bit of a Trekkie and it’s not just because of the clothes that they
just because of the clothes that they
just because of the clothes that they wear but the thing I really like most
wear but the thing I really like most
wear but the thing I really like most about the Federation is that they don’t
about the Federation is that they don’t
about the Federation is that they don’t have money they abolished it a long time
have money they abolished it a long time
have money they abolished it a long time ago in the Federation your life is
ago in the Federation your life is
ago in the Federation your life is really dependent upon how much effort
really dependent upon how much effort
really dependent upon how much effort you put in and that’s you know we’re all
you put in and that’s you know we’re all
you put in and that’s you know we’re all here for society and although we’ve got
here for society and although we’ve got
here for society and although we’ve got a long way to go until we can reach this
a long way to go until we can reach this
a long way to go until we can reach this level of enlightenment shared Ledger’s
level of enlightenment shared Ledger’s
level of enlightenment shared Ledger’s are a really important step in the right
are a really important step in the right
are a really important step in the right direction because shared public Ledger’s
direction because shared public Ledger’s
direction because shared public Ledger’s they provide accountability they provide
they provide accountability they provide
they provide accountability they provide regulation they provide an inescapable
regulation they provide an inescapable
regulation they provide an inescapable audit trail so again this is a important
audit trail so again this is a important
audit trail so again this is a important step in the right direction towards that
step in the right direction towards that
step in the right direction towards that thank you for your time and please do go
thank you for your time and please do go
thank you for your time and please do go out and Google more
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