[Music]
foreign
[Music]
powered decentralization has the
potential to impact Society in a variety
of ways including around how much power
companies and governments have
blockchains are immutable the record
that's created cannot be changed by
anyone so whatever is put onto a
blockchain you can trust and rely its
accuracy that's pretty powerful in a
world of deep fakes in a world of the
exposure of corruption and graft all
over the world blockchains give us a
financial infrastructure that we can
deploy worldwide when certain crisis or
things break out sometimes it takes a
while to get that funding to people but
with newer Technologies we can find
entire regions and places more quickly
and overnight oftentimes when we give
our power away that power is actually
used against us with blockchain
technology it's all about giving the
power back to the user giving the
control back to the user when you go on
Instagram you are beholden to the
Instagrams algorithm of what they show
you how you discover new content and how
you engage with the platform itself and
I think that works for many reasons
moving forward however think
decentralization has a role to play in
creating systems where users can have
more control over their data over their
privacy and over how they interact with
any platform online one of the most
interesting things about
cryptocurrencies is they're Universal
there's no Bitcoin Central Authority and
so everybody can use it without having
to trust some particular government or
some particular Central Authority
there are good reasons for having
centralized entities for one they can
afford certain kinds of protections that
a decentralized entity can if there's
not the entity that's in control or the
entity that is there to protect you from
say frauds and scams like Banks can do
then consumers for instance are
vulnerable because there's no Central
authority to appeal to if you lose your
money it's final tax thefts are quite
scary when you're holding Bitcoin and
that's always going to be an issue it's
actually an issue with with anything in
life right with any physical property
Bitcoin itself is a is a hyped up fraud
so I think we're seeing lots of scams
and frauds for a variety of Reason one
is that it's really complex it's
difficult to understand what's going on
the government doesn't really have a
great grip on what's going on so you
have government confusion and therefore
lack of oversight you have frankly some
very intelligent people operating
cryptocurrency companies and you have
lots of people who want to make a lot of
money and lots of gullible people who
put all that into the mix you've got a
recipe for disaster my biggest worry
about the blockchain space is that we
need to protect users and ensure that
their security comes first I think it's
very clear that we need government
regulation we have seen the collapse of
big crypto firms we have seen all kinds
of problems people are going to get
their money stolen at the end of the day
you need the government to regulate to
sort of control the direction of Us in
January alone Bitcoin is heading to a
roughly 4 percent gain he always
volatile cryptocurrency Market took a
dive this week the reason there's so
much volatility in prices of crypto
assets is
we don't quite know what the future is
we don't know what regulation is going
to be we don't know all the uses it's
very early days nothing is guaranteed to
go up forever
and nothing is guaranteed that is going
to continue to go down Forever Until
really Bitcoin succeeds the price won't
start to stabilize it will still be very
volatile they eventually become approve
itself and the price will will become
more stable I believe it's valuable on
the condition that people value it it's
valuable on the condition that there are
enough people who will accept it as a
means of trade if no one wants to accept
it as a form of payment then no it
doesn't have any value currency isn't
the kind of thing that has value
independently of what people think about
it