so I was born in Zimbabwe and in 2008 I watched as the central bank printed
watched as the central bank printed
watched as the central bank printed these 100 trillion dollars when I showed
these 100 trillion dollars when I showed
these 100 trillion dollars when I showed this note to a friend here he said wow
this note to a friend here he said wow
this note to a friend here he said wow that’s more stars than there are in our
that’s more stars than there are in our
that’s more stars than there are in our galaxy three eggs cost a hundred billion
galaxy three eggs cost a hundred billion
galaxy three eggs cost a hundred billion dollars just before the currency
dollars just before the currency
dollars just before the currency collapsed and became worthless and the
collapsed and became worthless and the
collapsed and became worthless and the wealth of millions of people was wiped
wealth of millions of people was wiped
wealth of millions of people was wiped out
out
out my grandfather stopped drawing his
my grandfather stopped drawing his
my grandfather stopped drawing his pension because the costs to do so were
pension because the costs to do so were
pension because the costs to do so were more than the value of it hyperinflation
more than the value of it hyperinflation
more than the value of it hyperinflation is inevitable when currency and money
is inevitable when currency and money
is inevitable when currency and money can be created without restraint the
can be created without restraint the
can be created without restraint the irony is now that this Note has value
irony is now that this Note has value
irony is now that this Note has value again but not because it is useful as a
again but not because it is useful as a
again but not because it is useful as a currency but as a memento of how money
currency but as a memento of how money
currency but as a memento of how money destroys nations in South Africa my
destroys nations in South Africa my
destroys nations in South Africa my parents eventually moved there as well
parents eventually moved there as well
parents eventually moved there as well as many other Zimbabweans during
as many other Zimbabweans during
as many other Zimbabweans during apartheid the South African government
apartheid the South African government
apartheid the South African government forcibly moved a lot of black people all
forcibly moved a lot of black people all
forcibly moved a lot of black people all the black people out of the cities and
the black people out of the cities and
the black people out of the cities and into territories called homelands
into territories called homelands
into territories called homelands informal settlements sprung up that were
informal settlements sprung up that were
informal settlements sprung up that were poor and lacked services outside of the
poor and lacked services outside of the
poor and lacked services outside of the towns and the legacy of this remains
towns and the legacy of this remains
towns and the legacy of this remains today
today
today my father was committed to serving these
my father was committed to serving these
my father was committed to serving these poor communities and so he moved us to a
poor communities and so he moved us to a
poor communities and so he moved us to a small town the name of which means place
small town the name of which means place
small town the name of which means place of stones and he became a school teacher
of stones and he became a school teacher
of stones and he became a school teacher I attended a dusty little school and
I attended a dusty little school and
I attended a dusty little school and together with my siblings we formed the
together with my siblings we formed the
together with my siblings we formed the majority of the white kids I live speaks
majority of the white kids I live speaks
majority of the white kids I live speaks wanna and I grew a strong bond with that
wanna and I grew a strong bond with that
wanna and I grew a strong bond with that school as well as many schools like it
school as well as many schools like it
school as well as many schools like it that remains with me today just outside
that remains with me today just outside
that remains with me today just outside of the school was a landfill the rubbish
of the school was a landfill the rubbish
of the school was a landfill the rubbish was dumped and many people lived on the
was dumped and many people lived on the
was dumped and many people lived on the rubbish
rubbish
rubbish scrounging for food and looking for
scrounging for food and looking for
scrounging for food and looking for useful items with which to build their
useful items with which to build their
useful items with which to build their lives my father would make giant pots of
lives my father would make giant pots of
lives my father would make giant pots of soup and load them into the back of our
soup and load them into the back of our
soup and load them into the back of our van that he had had the seats removed
van that he had had the seats removed
van that he had had the seats removed and would transport it to the landfill
and would transport it to the landfill
and would transport it to the landfill there was a lot of sloshing about and so
there was a lot of sloshing about and so
there was a lot of sloshing about and so he made my brother and I sit on the lids
he made my brother and I sit on the lids
he made my brother and I sit on the lids and in spite of our best efforts a bit
and in spite of our best efforts a bit
and in spite of our best efforts a bit was always lost he would serve the soup
was always lost he would serve the soup
was always lost he would serve the soup in tin cans that he found lying around
in tin cans that he found lying around
in tin cans that he found lying around in the on the dump and my brother and I
in the on the dump and my brother and I
in the on the dump and my brother and I would wander around looking for
would wander around looking for
would wander around looking for interesting pieces of junk to play with
interesting pieces of junk to play with
interesting pieces of junk to play with with the kids that we met there my
with the kids that we met there my
with the kids that we met there my father went out of his way to do good
father went out of his way to do good
father went out of his way to do good for the people in those communities but
for the people in those communities but
for the people in those communities but for us it’s impracticable and practical
for us it’s impracticable and practical
for us it’s impracticable and practical to do what he did aid organizations act
to do what he did aid organizations act
to do what he did aid organizations act as trusted intermediaries between us and
as trusted intermediaries between us and
as trusted intermediaries between us and the causes we believe in but there is a
the causes we believe in but there is a
the causes we believe in but there is a leaky bucket problem money that is
leaky bucket problem money that is
leaky bucket problem money that is donated leaks out in the form of
donated leaks out in the form of
donated leaks out in the form of administration costs in efficiencies and
administration costs in efficiencies and
administration costs in efficiencies and sometimes corruption clearly the
sometimes corruption clearly the
sometimes corruption clearly the financial systems that we depend on
financial systems that we depend on
financial systems that we depend on today leave something to be desired
today leave something to be desired
today leave something to be desired and in 2000 in the early 2000s with the
and in 2000 in the early 2000s with the
and in 2000 in the early 2000s with the advent of the internet Milton Friedman a
advent of the internet Milton Friedman a
advent of the internet Milton Friedman a Nobel Prize winning economist predicted
Nobel Prize winning economist predicted
Nobel Prize winning economist predicted that what was missing but would soon be
that what was missing but would soon be
that what was missing but would soon be invented was a reliable ecash it didn’t
invented was a reliable ecash it didn’t
invented was a reliable ecash it didn’t mean a currency that was controlled by
mean a currency that was controlled by
mean a currency that was controlled by the banks but a digital form of sound
the banks but a digital form of sound
the banks but a digital form of sound money that acted like cash sound money
money that acted like cash sound money
money that acted like cash sound money has always linked to something with
has always linked to something with
has always linked to something with intrinsic value like gold and cash is
intrinsic value like gold and cash is
intrinsic value like gold and cash is something you can keep on your person
something you can keep on your person
something you can keep on your person without having to trust a custodian you
without having to trust a custodian you
without having to trust a custodian you know in 2009 it prompt prompted by the
know in 2009 it prompt prompted by the
know in 2009 it prompt prompted by the the global financial crisis a group of
the global financial crisis a group of
the global financial crisis a group of researchers and developers fulfilled
researchers and developers fulfilled
researchers and developers fulfilled Milton Friedman’s prediction and they
Milton Friedman’s prediction and they
Milton Friedman’s prediction and they created a technology called Bitcoin
created a technology called Bitcoin
created a technology called Bitcoin Bitcoin is a decentralized currency that
Bitcoin is a decentralized currency that
Bitcoin is a decentralized currency that means it’s not issued by a central bank
means it’s not issued by a central bank
means it’s not issued by a central bank and not governed by any Authority it was
and not governed by any Authority it was
and not governed by any Authority it was designed to be a digital form of gold
designed to be a digital form of gold
designed to be a digital form of gold which means it acts as a
which means it acts as a
which means it acts as a hedge against inflation it is also a
hedge against inflation it is also a
hedge against inflation it is also a peer-to-peer payment Network and anybody
peer-to-peer payment Network and anybody
peer-to-peer payment Network and anybody with access to the Internet can use it
with access to the Internet can use it
with access to the Internet can use it when I first heard about Bitcoin it was
when I first heard about Bitcoin it was
when I first heard about Bitcoin it was during the height of the financial
during the height of the financial
during the height of the financial crisis and the Zimbabwean dollar had
crisis and the Zimbabwean dollar had
crisis and the Zimbabwean dollar had already collapsed there was no more
already collapsed there was no more
already collapsed there was no more fertile ground for the idea of a
fertile ground for the idea of a
fertile ground for the idea of a decentralized peer-to-peer digital form
decentralized peer-to-peer digital form
decentralized peer-to-peer digital form of sound money to take root than in
of sound money to take root than in
of sound money to take root than in southern Africa and I wondered if this
southern Africa and I wondered if this
southern Africa and I wondered if this technology could solve the leaky bucket
technology could solve the leaky bucket
technology could solve the leaky bucket problem and allow people to directly
problem and allow people to directly
problem and allow people to directly support the causes they believe in so
support the causes they believe in so
support the causes they believe in so memories of my childhood led me down the
memories of my childhood led me down the
memories of my childhood led me down the path to a small school called MOA knee
path to a small school called MOA knee
path to a small school called MOA knee primary MOA knee is located on the
primary MOA knee is located on the
primary MOA knee is located on the outskirts of the city of Johannesburg in
outskirts of the city of Johannesburg in
outskirts of the city of Johannesburg in South Africa it is the legacy of
South Africa it is the legacy of
South Africa it is the legacy of apartheid and very close to where Nelson
apartheid and very close to where Nelson
apartheid and very close to where Nelson Mandela lived as a boy like many schools
Mandela lived as a boy like many schools
Mandela lived as a boy like many schools in South Africa it has given a small
in South Africa it has given a small
in South Africa it has given a small budget that nitin up to cover the costs
budget that nitin up to cover the costs
budget that nitin up to cover the costs of running school so broken toilets
of running school so broken toilets
of running school so broken toilets remain unfixed and heating and cooling
remain unfixed and heating and cooling
remain unfixed and heating and cooling is a lift off to pay for more important
is a lift off to pay for more important
is a lift off to pay for more important items mostly what happens is that
items mostly what happens is that
items mostly what happens is that utilities are left unpaid and massive
utilities are left unpaid and massive
utilities are left unpaid and massive debts are crew and this is where I saw
debts are crew and this is where I saw
debts are crew and this is where I saw an opportunity I was working in the
an opportunity I was working in the
an opportunity I was working in the energy industry at the time and I was
energy industry at the time and I was
energy industry at the time and I was building smart metering technology and I
building smart metering technology and I
building smart metering technology and I had the idea to link a Bitcoin address
had the idea to link a Bitcoin address
had the idea to link a Bitcoin address to a smart meter this meant that anybody
to a smart meter this meant that anybody
to a smart meter this meant that anybody around the world could directly fund
around the world could directly fund
around the world could directly fund that meter so I had it installed at mo
that meter so I had it installed at mo
that meter so I had it installed at mo any primary school and I wondered what
any primary school and I wondered what
any primary school and I wondered what to do next a friend of mine in Vienna
to do next a friend of mine in Vienna
to do next a friend of mine in Vienna EDS heard about this experiment he was
EDS heard about this experiment he was
EDS heard about this experiment he was giving a talk in Boston and he suggested
giving a talk in Boston and he suggested
giving a talk in Boston and he suggested that we do a live demo from the
that we do a live demo from the
that we do a live demo from the conference so I drove down at 3 o’clock
conference so I drove down at 3 o’clock
conference so I drove down at 3 o’clock in the morning to mo ne and I videoed
in the morning to mo ne and I videoed
in the morning to mo ne and I videoed into the conference and I explained to
into the conference and I explained to
into the conference and I explained to the delegates what I had created and I
the delegates what I had created and I
the delegates what I had created and I say that they can now directly fund
say that they can now directly fund
say that they can now directly fund energy needs of the school so I walked
energy needs of the school so I walked
energy needs of the school so I walked around the school it was pitch dark the
around the school it was pitch dark the
around the school it was pitch dark the meter had no credits on it and I showed
meter had no credits on it and I showed
meter had no credits on it and I showed the meter and explained to the delegates
the meter and explained to the delegates
the meter and explained to the delegates what it would do it was completely dark
what it would do it was completely dark
what it would do it was completely dark and wanted to give them a feeling of
and wanted to give them a feeling of
and wanted to give them a feeling of what it was like to be down there I was
what it was like to be down there I was
what it was like to be down there I was on the other side of the world compared
on the other side of the world compared
on the other side of the world compared to them so it has scanned the Bitcoin
to them so it has scanned the Bitcoin
to them so it has scanned the Bitcoin address into his phone at the conference
address into his phone at the conference
address into his phone at the conference and he sent a Bitcoin which was worth
and he sent a Bitcoin which was worth
and he sent a Bitcoin which was worth about five hundred dollars at that time
about five hundred dollars at that time
about five hundred dollars at that time about five and a half thousand kilowatt
about five and a half thousand kilowatt
about five and a half thousand kilowatt hours of energy enough to fund the
hours of energy enough to fund the
hours of energy enough to fund the energy needs of that school for an
energy needs of that school for an
energy needs of that school for an entire month so he sent up the payment
entire month so he sent up the payment
entire month so he sent up the payment and for an anxious few seconds I said
and for an anxious few seconds I said
and for an anxious few seconds I said and waited and eventually the Bitcoin
and waited and eventually the Bitcoin
and waited and eventually the Bitcoin hit the meter and the lights went on he
hit the meter and the lights went on he
hit the meter and the lights went on he didn’t know this none of the delegates
didn’t know this none of the delegates
didn’t know this none of the delegates knew this but behind me the teachers had
knew this but behind me the teachers had
knew this but behind me the teachers had been so excited my parents were so
been so excited my parents were so
been so excited my parents were so excited they didn’t want to miss this
excited they didn’t want to miss this
excited they didn’t want to miss this and they’d been sitting behind me the
and they’d been sitting behind me the
and they’d been sitting behind me the whole time and they started celebrating
whole time and they started celebrating
whole time and they started celebrating and so did the delegates all the way at
and so did the delegates all the way at
and so did the delegates all the way at MIT in Boston and they shared all of
MIT in Boston and they shared all of
MIT in Boston and they shared all of them shared a unique experience without
them shared a unique experience without
them shared a unique experience without needing a bank or a remittance company
needing a bank or a remittance company
needing a bank or a remittance company or an aid organization Oh Caesar means
or an aid organization Oh Caesar means
or an aid organization Oh Caesar means help in Zulu and I’ve created the first
help in Zulu and I’ve created the first
help in Zulu and I’ve created the first of its kind crowdfunding platform where
of its kind crowdfunding platform where
of its kind crowdfunding platform where people from around the world can
people from around the world can
people from around the world can directly fund the energy needs of Mid
directly fund the energy needs of Mid
directly fund the energy needs of Mid East African schools and hospitals
East African schools and hospitals
East African schools and hospitals you can touch their lives right now
you can touch their lives right now
you can touch their lives right now through this address another interesting
through this address another interesting
through this address another interesting aspect about cryptocurrencies
aspect about cryptocurrencies
aspect about cryptocurrencies is that it allows us to reach the long
is that it allows us to reach the long
is that it allows us to reach the long tail of charitable causes now the long
tail of charitable causes now the long
tail of charitable causes now the long tail was popularized by Chris Anderson
tail was popularized by Chris Anderson
tail was popularized by Chris Anderson and if you apply it to charities it
and if you apply it to charities it
and if you apply it to charities it shows us how they are usually a small
shows us how they are usually a small
shows us how they are usually a small number of causes and charities that get
number of causes and charities that get
number of causes and charities that get the most funding but there are many
the most funding but there are many
the most funding but there are many causes out there down the long tail that
causes out there down the long tail that
causes out there down the long tail that we cannot reach with cryptocurrencies we
we cannot reach with cryptocurrencies we
we cannot reach with cryptocurrencies we can now reach that long tail so all of
can now reach that long tail so all of
can now reach that long tail so all of human history has been punctuated by
human history has been punctuated by
human history has been punctuated by periods of intense
periods of intense
periods of intense activity and innovation innovation that
activity and innovation innovation that
activity and innovation innovation that is shaped civilization and defined our
is shaped civilization and defined our
is shaped civilization and defined our culture but where it is almost universal
culture but where it is almost universal
culture but where it is almost universal whenever we are faced with something new
whenever we are faced with something new
whenever we are faced with something new to treat it with fear skepticism and
to treat it with fear skepticism and
to treat it with fear skepticism and doubt and cryptocurrencies are no
doubt and cryptocurrencies are no
doubt and cryptocurrencies are no different the internet gave us all a
different the internet gave us all a
different the internet gave us all a voice that can be heard around the world
voice that can be heard around the world
voice that can be heard around the world but cryptocurrencies allow us to be more
but cryptocurrencies allow us to be more
but cryptocurrencies allow us to be more than just heard but to also be felt so
than just heard but to also be felt so
than just heard but to also be felt so reach out and touch someone thank you
reach out and touch someone thank you
reach out and touch someone thank you [Applause]
”
Be First to Comment