what would you do if tomorrow morning
wake up you find all the
frozen bank accounts all your
unused cards and the central bank
European said that the 50 dollar bills
100 of 500 euros are no longer valuable
they are alarmist no no no why
be fiction in 2016
india withdraw from circulation the
500 and thousand rupee notes that
they were practically 80 percent of
the tickets from 2000 to 2006
we live in Zimbabwe one of the
higher hyperinflations of the
history a 90 billion trillion percent
imagine that the price of the things that
double every 24 hours in 2013 we have
the first banking corralito in the union
of the hand of Cyprus in 2016
again we have a second loan
banking in this case in greece many
of their pensioners lost until the
40% of their pensions in 2015 and 2016
If he had lived in Venezuela our
purchasing power although it has diminished a
90 percent in just two years
imagine some of this happening to you
I would have an alternative to
remedy it
the majority answer is we do not see
how economies stretch and contract
like chewing gum but it seems that what does not
we see are the economic disasters are
as it happens to us directly
campaign in others not
the topic it’s we live in an economy
relatively stable
that’s why we do not pay attention to the
macroeconomic events that
silently occurs in the world to
see where we are going
you have to put yourself in perspective you have to
understand how economic agents
work in the world and analyze how
societies evolve with respect to
those agents
we have evolved from the caverns to
smartphone but that has come your time
no and why do not we go not because
we evolved
because due to innovations the fire
and agriculture are two examples but
undoubtedly some candles and one of the
most amazing innovations of all
the times was the money when the
people understood and started to
reference value in something that could be
exchange but the money has not been
always as we know it
the money has taken its time
let’s see a short story for
bring this topic closer before the
money were seeds coffee cocoa salt and
with the passage of time they were discovered
precious metals like gold and
silver they saw that they had such a few
characteristics that allowed them not
deteriorate with the passage of time
gold soon began and tradition
be used as money for that is not
chance that banks keep in their
gold vaults as collateral economies
modern but what has a problem is
heavy and difficult to transport not all
with the passage of time a
new money the money paper is to say
the tickets before the customers were
backed by gold but already entering
the contemporary world until the year 1971
just in that year the
gold pattern and people
surprisingly they followed
exchanging and accumulating those
tickets although they are no longer backed
you are welcome
where do I want to where do you want to go
and say we have gone from thinking that the
money is a piece of metal to think that
the money is are digits in the account
that a server of a bank
so I ask
what is money money
that information is a channel of
communication is enough that a mass
criticism trust the channel to
attribute value
money is an abstraction of the
people we attribute to something in this case
the tool of attraction that we
we use that huanca huá archaic only
the bills and the coins is to say no
We have the capacity to control the
system
also we depend on not freeze us
the bank account or that they do not make us
the corralito and if not tell it to
the Greeks
so I’ll introduce you before
present them what is he the new
money because they happen because it happens in
the economic crises in the world not the
crises are happening we see them in
the news but we have to get to
he because to the reason of the crises the
economic crises happen because we live
in centralized environments say where
governments of states and institutions
they have the power over the emission of
money but what happens if we invest the
balance what happens if neither states
institutions had the power to
issue the money to whom it has been
ever asked
precisely on this one has been
investigating several years has been
trying to postulate a money model
that has not been centralized and also that
take advantage of the best communication network
that we have what the internet is to say
has tried to postulate a money
electronic cash digital
but there is a problem and more if we talk
of money that they spend with trust and
With safety
we know that all digital is
piratable copyable just in the
2009 they were developing they were
investigating a series of problems for
solve security in
the digital and you get to the solution of
several problems in computing and
cryptography that take time
trying to solve by postulating a
technology there was still a find
technology that allowed consensus and
immutability between parts of form
autonomous is to say in 2009 born today is born
in vigo and as an alternative to money
centralized a money a payment network
Person to person
immune actions coercion
geopolitical and without barriers
we have the money 2.0 is a money that
it works on the internet but that is to say if
we have internet because we were not going to
have a channel in which we
we exchange value and if so
because we are going to trust in this network
if it’s on the internet like
we use the mail
electronic and we do not know how
they work or we do not use and until
we arrive and send but we do not know how
the email works but
we use in this case internet
bitcoin works on the internet is a
internet layer but it works so
pedro aspe that is, from person to person
your network called chain blocks or blog
sein is in charge of security the
information without the need of a company
or from a third party that tells us that
our transactions are valid what
that saints and anonymous creator nakamoto
debit and who signs under this pseudonym
brought us in 2009 was a genius was
a formula of trust without trusting
no one
a form of money to exchange
online you can find 50 banking
say imagine that we have a network
decentralized capable of generating us
power to issue money to any
part of the world to anyone in
any time a network that works
365 days a year seven days a week
24 hours a day
let’s say that the most important thing that you
you will ask what is the difference between
vigo and the money that we have in our
something when we use our bank
to issue a transfer
we have to trust that the bank
work or that non hai on the server
of the bank when we use it well
we rely on mathematical proof
also its network is responsible for securing the
computational information deforms is
say we have the safest network in the
world and what happens with this network in this
net
why computers involved
because one of a central server of a
bank we can not shut up but you can not
hack the bitcoin network because no
you have to change only one computer
but he would have to hack thousands of
computers throughout the world and
who are these computers because they are
the so-called miners those computers
are those who are responsible for verifying and
of generating the coins in the system are
people like you and me who have
confident in technology and have added
computing power with their computers
with its servers to the network making
the network devil coin ablonczy the network
the most powerful supercomputer in the world
let’s say that the sainz blog is the
highway where the bitcoins go
are generated by the network in a way
constant in time every ten minutes
up to one million 21,000,000 up
up to a limit of 21 million
coins but because they are 20 million
coins are asking many people
because that’s what the code dictates
Bilbao computer and why it is not
more than a computer code but be
used by the safest network in the
world so I postulate a question is
this one maybe the most money way
efficient never created by the human being
I heard the word ablonczy you have to
know that you can build any
thing that has to do with internet with
data with accounting events in time
and you can build it
decentralized tell the data that
we during and will only be yours and
will not be on any server
first time in history we have the
ability to be sovereign in our
data and in our transactions
economic that has happened with all this
bitcoin is not only the beginning
that is, imagine the applications that
can have all this we have can
have a secure electronic vote we can
designing we could have a base of
data where we dump all our
health data and we can access only
us from anywhere in the world
only with a mobile phone
we could generate payments between machines
without needing a human being and everything
is automated at magically cost
zero and with only is the principle of how
societies can be seen centralizing
With the passage of time they can
simply born in 2009 but in
these years there have been thousands and thousands of
new applications that use the
bitcoin technology and thousands of other
500 coins that are already revolutionizing
how do we understand finances so
so much our task right now is
educate ourselves and understand this new way
to think and who knows if in the future
they do not block our bank account
we will have an alternative
Thank you
[Applause]
[Music]
”
Be First to Comment