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[Music] what is up YouTube it is Matt back with another crypto video this first article I have for you here five ways blockchain could change the world coming out of Forbes this article is a really fantastic and one of the five points they bring up is how blockchain technology could really revolutionize the healthcare industry which leads me to the second article here on why did you bite might be the one chosen to be the one that transforms the multi-billion dollar healthcare industry and I will end this video with three articles that kind of detail how crypto is becoming more and more adopted across the entire world so the South Korean official proposes greater cooperation for global crypto regulation this article here a billion people will be using crypto currency in five years predicted by Brian Armstrong who is an executive at Cloyd base and a real quick here this first line is interesting the world of money is revolutionising right in front of our eyes which makes me think of a tweet that I saw I think it was yesterday out of from Oliver Isaac's it says three thousand years ago sea shells were used as currency and we can't help but think how primitive that was today we use paper money and eventually people will wonder how we could have been so primitive and really it just like hits the nail on the head crypto currency is definitely the future and then this last article here more positive news for cryptocurrency is crypto currency has been legitimized by you Becca Stan and Iran has recognized the mining of Bitcoin and other cryptocurrencies as an industry so if you enjoy this video hit the subscribe button hit the bell to get notifications like it share it leave a comment and let's get right to this first article so Fiveways blockchain could change the world you've probably heard of blockchain but do you really know what it's used for aside from underpinning a new class of digital assets called crypto currencies such as Bitcoin blockchain has many significant implications for how we live work and play so what is blockchain put simply blockchain is a new way of storing information you can think of it as a shared virtual ledger owned by users called nodes on the blockchain network any changes that ledger if someone transfers money or updates a legal contract for example is cryptographically verified and then reflected across the entire network visible to everyone blockchain is the ultimate enemy of bureaucracy with the use with the use of smart contracts pieces of code that automate manual processes blockchain can remove middlemen from a lot of traditionally complex tasks like buying a house or sending money abroad the result is a cheaper faster and more transparent technological framework for the most important industries in society so why should we care as a CEO of Alcoa oh we're investigating how to bring about these changes faster we're working on improving the speed scalability and entero / ability of different block chains while also helping others build their own applications block chains potential is yet to be fully understood similar to how we didn't fully understand the internet and its early days and look how how much just the Internet has changed the world so a black team will be very similar and how revolutionary it's going to be but should it continue its path to adoption we could see some radical changes let's explore five of them one is sending money abroad will be quicker sending money abroad can take days at best this is frustrating at worst it could mean friends or family are lacking basic necessities are waiting for emergency medical treatment currently banks hold foreign currencies in a nostril / vas brew accounts and their countries and use the Swift messaging system to arrange transfers if an agreement exists between the two banks the transfer is usually done in the same business day but in developing countries where currencies are strictly controlled your bank must use intermediaries or liquidity agents which are more expensive time-consuming and labor-intensive and converse result in a couple days before you see the money transferred instead of one business day so blockchain solutions like ripples X Current dramatically reduced the time and cost of sending money abroad with participating banks connected through the blockchain network all the compliance and ID are fulfilled automatically and authenticated by cryptographic signatures once cleared transactions are usually settled in just a few seconds leaving an immutable transparent record for both banks point number two buying a house will be easier and faster the property market is a messy tedious business buying a house can take months of grueling paperwork and costly lawyer fees in the UK things are even worse your seller can accept your offer but then reject it later for a higher bid a tactic known as gas dumping though officials are finally starting to regulate that so most property market issues stem from a lack of trust complex land registries backed by reams of signed paperwork make tracking difficult and verification requires the coordination of banks government agencies and lawyers the end result is an expensive time-consuming process that many of us dread blockchain however is trustless removing the need for the complex verification processes carried out by the intermediaries with blockchain there is a single transparent version of the truth and one party can't make changes without agreement from everybody else it's effectively tamper proof which cuts down on the paperwork and reduces the risk of fraud click to purchase for example has replaced the laborious title exchange process and the UK with blockchain smart contracts once your offer is accepted titles exchange immediately preventing anyone from dumping you and thus out bidding you and you losing the house you wanted so in the u.s. property is also using blockchain for title exchange and in a tip to automate the real estate industry and certainly if you could put a bid on a house buy it and own it all within one day that would certainly be a major improvement upon the current system so way number three it can revolutionize is it'll be easier to treat health problems your medical history helps doctors treat you quickly and effectively but chances are it's fragmented across multiple healthcare providers and in capabilities between provider systems make transferring records slow and often requiring manual intervention without your full medical history doctors could waste money and time on test you don't need or be unable to give you the best treatment so blockchain could make it easier to treat health problems by radically improving the accuracy and availability of your medical history by creating an accessible permanent blockchain record owned by you you could instantly reveal the ailments allergies and lifestyle factors to help doctors diagnose and treat you it'll also verify your entity identity ensuring you are not confused with the other John Smith in the waiting-room way number four is you'll be able to verify that what you buy is genuine whether you're buying a conflict-free diamond ring a ticket to your favorite band or prescription drugs from for a health problem proof of authenticity is vital and I know V chain is working on that process of being a verifying the authenticity of products so supply chains that manage every step a product goes through before arriving in your hands is incredibly complex with many intermediaries confusing the journey currently the bulk of supplies to make supply chain management is done through EDI a messaging system first introduced in the 1970s although a big step from paper it's far from perfect EDI is two-way only leaving other interested parties out of the loop if two parties commit to defrauding a third their activities would remain hidden they're hidden an example is fake goods manufacturers conspiring with distributors to sell products on Amazon and I know that IBM is making their own blockchain that's already being tested by many shipping companies across the world to kind of streamline the logistics and putting all logistical information on the blockchain and it's already being done by IBM so that is that's not the case blockchain every stage of a product's journey from its manufacturer to the serial of its shipping container is recorded and available to all stakeholders with no possibility of cutting corners or falsifying information it also provides an open and transparent framework that eliminates confusion and disputes and short blockchain ensures that when you buy something it's the real deal point number five is you'll be able to learn or earn more money from things you don't use big players in the sharing economy like Airbnb and uber make money doing very little they generate income from connecting people not by rinsing property or driving a fleet of taxis yet still charge a huge sum for their services since blockchain is decentralized there are no intermediaries and no need for sharing platforms you can rent out your home your car or any other connected smart object with no tech giants setting the rules and nibbling away at your profits so there you have it there are five ways that blockchain technology stand to revolutionize our everyday life I know there are certainly going to be a lot more these are kind of just five of the most obvious ways blockchain can be utilized but like I said we're in the beginning stages of blockchain similar to the beginning of the internet and we we really don't know what all it can do yet so this next article here digi byte can transform the multi-billion dollar healthcare industry recently did the did you bite founder said something to the effect that patients should have control over their medical information the idea is to personalize medical information and develop better relations between patients and medical practitioners in the past there have been numerous cases of fatal misdiagnosis due to altering of patient's medical data by the wrong people such cases would pretty much never arise if the patient data is immutable and only available to the physician that the patient chooses this is critical for the long term improvement of healthcare systems and make medicine better it was one of the areas where blockchain technology has a massive use case in the future and didja byte is one of the key blockchain projects that will transform this market that's because it's one of the most secure block chains in the market this makes it perfect fit for the storage of patient data without the risk of any malicious alterations health care databases have been attacked in the past meaning that this is not a theoretical use case it is real and it is needed on top of that digibytes digi ID makes it possible for patients to access their medical records online without the risk of being compromised by third parties digi ID works by allowing a user to log in to any online systems without using passwords which works quite well with the needs of the healthcare industry digi ID is a working product that is already gaining adoption as can be seen with companies like anthem and I touched on their partnership the other day in one of my did you bite videos so integrating digi ID into their systems with time the healthcare or yeah the healthcare will find that it is in that it is an invaluable tool as it slowly becomes the standard for cybersecurity with such a strong use case in healthcare did you buy it has a massively way to grow in the future that's because the healthcare sector is a multi-billion dollar market and has online security needs that are yet to be fulfilled a break a break by digi buy into this market could see its value skyrocket by a huge margin from an investor viewpoint the odds of did you bike gaining adoption in this market are quite high since it is one of the very few truly decentralized block chains that is also scaleable on chain this makes it perfectly suited for an industry as large and as lucrative as healthcare the future of digibind has a multi-faceted use case one that could see its value rise significantly in the future adoption of digitized a currency as well as a cybersecurity tool could push it to $1 in the near future and I would agree with that but again this is not financial advice so switching these last few articles I have here is the South Korean official proposes greater cooperation for global crypto regulation and that that's just good news that more and more countries are recognizing the value of cryptocurrency and the potential it has and really we need we do need some regulation on how it's all going to work if we're going to mass adopt it into everyday society and everything that we use so it's good to see that governments and regulators are starting to realize this and work together to figure out all the rules that are going to go with it so the ifs D is an organization which supervises the financial industry including banks security and insurance companies South Korea and a list of the companies that South Korea was speaking to at this meeting was obviously South Korea Japan Australia Singapore Canada the UK Germany Netherlands Austria Switzerland Norway Sweden hungry Iceland Denmark and Ireland and certainly that is a lot of countries they are definitely allies with the United States and as these countries start to work together and hash out all the rules s twin we're going to start to see mass adoption of cryptocurrency and I know the United States needs to start getting on this get this train going as well so this next article here a billion people will be using cryptocurrency in five years said by Brian Armstrong so the world of money is revolutionising in front of our eyes cryptocurrency is creating new paradigms for alternative payment systems and decentralizing banking there is no doubt that the user adoption of various cryptocurrencies is rapidly increasing the cryptocurrency industry has become more fluid as the borders between it and mainstream finance continue to blur at the same time regulators are spending long hours at work to regulate the booming circle of crypto enthusiasts and this could be one of the prime reasons by Brian Armstrong believes that crypto adoption will increase at an astronomical pace in the next half decade the rest of this article kind of details coinbase and how successful they have been they recently entered the UK market and had a paragraph here they are entering the African market soon which will this increase the adoption of crypto currencies and as collect coins base is the largest Bitcoin in all cane all coin exchanged by trading volume in the entire world they have over 13 million users to date and it that makes up thirty two point five percent of the overall cryptocurrency users so in the long run Armstrong believes that they will function or that coinbase will function like the New York Stock Exchange with the probability of millions of tokens and their portfolio we do feel a substantial subset of these tokens will be securities I know not a lot of them are right now but in the future it could be more like a security or a stock of investment into a company rather than use as a currency there will be some chosen to be used as currency but a vast majority of them couldn't become securities so he says we do feel substantially a subset of these tokens will be securities he said our approach has always been to be the most trusted crypto currency exchange and the easiest to use so we want to be the legal compliant place where you can start to trade these tokens that are classified as currencies and certainly I would like to see coinbase start to list more currencies available for purchase such as card on oh did you buy to name a few obviously I want more of them on there but we're still early so this last article I have here is that cryptocurrency out of crypto currency out of the ink 42 sorry cryptocurrency this week you Becca Stan legitimizes Bitcoin and Iran recognizes mining as an industry I will not read this entire article but I will read a few key parts so in a recent or a significant development the president of you Becca Stan has now signed a decree that permits the existence of cryptocurrency exchanges and other activities surrounding the industry swit hing to Iran according to the Iranian news daily abena Secretary of Iran's supreme council of cyberspace has now stated that cryptocurrencies mining like Bitcoin has been accepted as an industry in the government and all related organizations to the mining such as Ministry of Communications an IT central bank Ministry of Industry mining and trade ministry of energy as well as Ministry of Economic Affairs and Finance have agreed to it but the final policy for legislation has not been declared yet but they're certainly moving in that direction and that's great news as more and more countries are recognizing cryptocurrency as being a legit form of currency and really that is what we need to start to see mass adoption and I apologize for the length of this video hopefully you made it this far into it again if you enjoy it hit the subscribe button like it share it leave a comment and I'll see you guys later