Good day to you. Few days ago in the Museum of Science and Technology was a seminar about the block chain technology
and the new era it brings us in. The seminar was held by developers of the first blockchain tecnology on Balkans
and what is blockchain and what will the new technology give to us,
today you will hear from Nenad Balog, CTO from Smart Chain Technology
and Mirjana Tomic, producer, who recognized the actuality of topic
joined them on her own way, which is also very interesting combination, so,
I wish you welcome and good day!
Good day to you.
I am in the first grade of the primary school on that topic and I understand nothing
so I am happy that two of you are here today to inform us a little bit
because I see it is a big topic in a world now,
everyday people are talking and writing about this, and,
Yet, I belong to those who still don't understand tecnology, or how our future will look like.
What is blockchain?
Well, blockchain is the easiest to explain as some data structure.
That data, when recorded, or written once, can never be changed.
And, as exapmple, what is the real structure of this data? We have a specific blocks, the data are recorded in those specific blocks,
each with the reference on the previous block
so, finally we get one chain of the same blocks, as the word itself has that meaning.
Yes your story has a foundation, but, since I am not from the IT, I can not fully understand,
in fact, this is the technology that is behind the famous bitcoin, this is the term that we are all familiar with?
Yes, its behind it, and, behind all of the crypto currencies. It is all the same principle.
You say that with such an ease,
and what about us who need to start from the beginning?
you are very interesting to me, you are well known film and TV producer, I know you from work, still, you went very deep in it,
not as an IT expert, than, you "attacked the problem" on your own way,
How comes that you are here with them?
Well, the first time I've met with the block chain technology and the bitcoin,
that is the most popular and that gave a push to enrtire block chain industry,
was in 2013.in Berlin, when I was working on one festival there, that was from my scope of work,
but also, we took part in bitcoin market that was one day in the same venue,
and we were selling the festival tickets for bitcoins.
So for the first time I've met technology, its purposes, but, what was the most interesting to me?
At that time Angela Merkel has officialy recognized and accepted block chain and crypto currencies for certain transactions,
and, for me that was already a signal that there is something bigger hidden behind the story.
On the other hand, the whole system of crypto currencies started with development
after the last world economic crisis, in 2008, 2009, when many of the electronic currency markets
have bankrupted and failed, and it was mostly caused by the large banks.
There is no need to talk about it now, it is all well known, but,
it caused the foundation of crypto currencies world, when people started to feel
the must to protect and to manage their financial resources much better, regardless if they are traders or investors,
they dont have to pay big provisions and fees, or to risk to lose what they earned,
because it is saved in the system, that, as it turned out during that crisis,
is not protecting but jeopardizing those financial resources.
Are you sure that it will sustain as you are expecting, all of you involved in that industry?
I realy think it will, because, as you can see,
it's much more cost/effective
to send or receive the money
with various crypto currencies,
even to another countries, and it is almost tax free.
What confuses me is that I have read that there are many different crypto currencies,
and, if it is something based on that concept, why there is no just one crypto currency,
that will make easier lives in the future to all of us ?
But, there are almost
crypto currencies connected to each of various industries,
as I understood, right?
All right, we can take an example,
the two most known and the biggest crypto currencies
are Bitcoin and Etherium, at the moment.
Bitcoin has only being used for financial transactions,
that means, we can send or receive money
from one adress to another, and that is it,
but regarding Etherium,
there is one very interesting thing
that it has Etherium virtual machine integrated, so,
we can deploy on the entire block chain the certain part of code,
how we're gonna, for instance, automatize specific transaction,
and, it is called the Smart contracts,
and, in addition, we can extend the functionalities of that blockchain,
we can add some distributive application
such as transfer of ownership on real estate properties,
or to make decentralized completely independent voting system,
which I find very significant,
and many other things.
Well, it sounds interesting but also scary...
I am talking about that as it is the future, but there are countries
that are greatly practicing it already ?
Well, yes. As I know,
Dubai should transfer the whole government administration on blockchain technology by 2020.
and also to implement it in almost every part of economy...
Yes, but, what about the older population? Ok, I will somehow "join the race",
but, what about old people who hardly get to use the mobile phones, and, now,
facing that technology bum that is happening so fast.
Elders are still barely familiar with electronic payment,
that it is not necessary to wait in cue in the bank to pay bills, to go to the post office...
You know, as new generations are arriving,
they will be able to adopt it with ease,
and, of course, they will help their grandparents to get to use to it,
to introduce them slowly with the way of payments
and more complex things
In fact, honestly, developers are really trying to make it as simple as possible,
especially in terms of payments and transactions.
This year in Davos it was one of the main topic,
and, I know its a hot topic world wide as well,
but I also know that people who are not familiar with that industry
may think that we are talking about some fairy tales...
It is a serious issue and the world is paying more and more attention on it,
but again, on the other hand, all the time there are some experts in media
who are explaining that this is a disaster,
and, the other experts are saying all the best?
Ok, for example, after Davos, the first thing that I have heard and put my focus on,
I can not say what was in focus of other people,
but, mine was that our prime minister
announced 2018. as a year of a blockchain technology in Serbia.
Regarding the other thing, for instance, what is said about that in various media,
in 2017.I became a member of a Manging Board of Independent Association of Producers Serbia
that was very important year for all of us from the industry since
we were very active in creating new strategy for culture and media 20127/2027,
as well as new Legislation about Cinematography and AV industry
and, while doing my job, I was reading many of the European and world strategies
and plans for future, what are they doing, what are they planning to develop most?
So, it was obvious that 2017.was emerging year for block chain
in terms of testing the funcionalities, applications, etc, but,
in the last Forbes magazine there's a big article how 2018. will be the crucial year for the media
and the entertainment industry in whole, that this is the upcoming future,
that all the big and the key media players will transfer their business to block chain,
and that they will accept that technology.
In my opinion, it is very significant innovation for all of us from the industry,
it gives us possibility for many benefits.
For example, that Smart contract he was mentioning before,
what that means in practice?
The easiest way to explain it is in the music industry,
but the same thing is applicable to every audio or video content.
For instance, it is the big problem and very hard to be paid for royalties.
With block chain, it is not a problem at all.
If one song is on the block chain instead of mp3. format,
every time when someone plays it,
royalties are automatically going where they're suppose to,
in the amount as it is said by the contract.
Another useful implementation / crowd funding.
Crowd funding as a way of investment in various media formats
is something what people are already experimenting with.
But with block chain, crowd funding is much more transparent,
and, people who are interested in some project, and want to invest in it,
it is enabled to them to follow the project development much better,
as well as to make a profit from what they have invested in,
once when it's released.
And people are talking and writing about many good examples,
so I am honestly inviting all my colleagues, especially woman,
to get more in the subject.
On the other hand, there is a lot of support and encouragement
for woman in block chain tech, so, who ever is interested in,
can feel free to contact me and ask for more info. I really recommend it and fully believe in it.
We are talking about blockchain technology, about the actuellities in the world of technology and IT,
which we are not familiar with enough, although we have all heard about them.
We are talking about bitcoin and other crypto currencies.
We are talking about the nearer and nearer future, and we will be back with our guests in a few moments.
We are talking about block chain technology, we are talking about crypto currencies,
we come back for a moment to the expert part of the story.
Looks like that you are thinking in English,
a colleague, who obviously knows more about it,
asked about something like "the difficulty of mining", and you understood him.
Yes, about difficulty of mining
Of course, I'm completely caught up, and you still understand it.
What is mining, who are the miners?
Well, they are literally miners, they are like some miners
who work hard and solve heavy mathematical calculations
to get to a certain number that unlocks that block.
When this block is unlocked, it is verified
and then certain transactions or data are entered into that block,
and that is so. And that remains so in the entire block chain.
Aha, ok then, what about difficulty of mining?
Hahhaha, I am joking, I did not understand it and certainly will not the viewers, too.
Haha, well, it vary, I can explain more if you want...
This is not for our knowledge level,
we need to know what makes our life and our future, and these are bitcoins.
What profession you're all who are gathered in the company?
We are mostly all developers, from different parts of Serbia.
We are mostly young, and we are interested in doing something in the world,
something that may change it.
And you are the first to deal with this in this way?
I do not know if we are the first,
but I think that we are the first to have a crypto currency.
You will be able to trade with it, to buy gold, diamonds,
and so on, it will be very interesting.
But I should have that currency?
Well, can I talk to you and introduce you through our project, if you like?
Of course
Our project is called Goldiam,
and the point is
that all of those miners who keep the network in function and mine blocks,
who mine blocks from the chain
will receive Goldiams for which they will be able to buy gold and diamonds.
But this is just one part of the project.
We have 3 parts that are technologically very important
and important to us.
One is the Glob Union platform,
for example, you can send money from Serbia to America or you can trade,
almost without any taxes.
The second part is Goldiam Box,
and this is something like time savings, another form of investment.
Here you will be able to keep your gold and diamonds
and once a month receive a reward for it.
Because, thus you are contributing to the stability of the whole system.
But, I don't have gold and diamonds.
Yes, but you can buy Goldiams for any fiat money,
for any currency.
You might want to buy Goldiams,
put them in Goldiam Box and get a reward every 30 days.
I have to ask one thing, there is a certain amount of money in the world,
every country has some money.
How to get into the battle?
Is the truth that we will, when that time comes,
have to transfer all our money?
How do you get bit coins?
They are generated by mining, for example.
Huh, I am not in the primary school, I am in the kindergarten,
as little I understand.
Essentially, me too, so I will try to explain from another angle.
It is here in Serbia that we all have a challenge to understand,
not technologically, but in some other ways.
It is the point that this money that now exists, these currencies, which are not the first in the world,
will be transfered to the crypts, as a new form of money that comes eventually.
It is simple the future currencies format.
But we do not have much money here in Serbia, so we do not have the savings
of a few hundred thousand of any valid and valuable currency.
However, to a people in the world it become very important when they lost their money, after cracks .
And now, these crypto currencies are no longer in the possession of anyone except in your own,
and there is no economic downturn that can free you of your money against your will.
In that sense, yes, you will move from the current currency to some of the crypto currencies,
not just the bit coins.
The cradle of this crypto currency market continues to form in some way,
and as the current currencies values are not all equal, the crypto differ, too.
In the very near future, this will be increasingly regulated
as more and more states are concerned.
What's so important about this Goldiam coin?
The fact that people who are traditional, because we all are traditional when it comes to lasting values,
such as gold and diamonds,
because, even countries had to have a barrel in gold or diamonds to have their currency at all,
so, these people will be able to transfer their physical cash into Goldiam crypto currency and,
if they wish so, to buy gold and diamonds for them.
And if they want they can keep it in Goldiams,
to trade with it, invest in some projects, whatever, they can do it.
Yes, they will transfer fiat money into a crypto currency and they can make payments and do everything else.
It's the same with bit coins and all other crypto currencies.
The dollar itself was once supported by golden leverage, and finally, it is not taken into account anymore.
The whole system has become inflationary and all of today's currencies are unstable and they fall.
Cash in most countries is less and less used, especially for larger purchases.
Some larger coins, which were previously there, are no longer printed.
Again, electronic payment is vulnerable in its own way for hacking. So, this is announced as a perfect solution, in fact.
Apart from being simpler, it's safer. Is there something where the crypto currency is vulnerable?
What's the problem, for example?
It is hard to make a problem.
It's hard, because there are miners who hold the whole network.
And, by verifying blocks, secure it.
Are there fakes, for example? That is what I thought.
They can not, they can not exist.
Because the whole network has some computing power....
Everyone is somehow connected and it is very transparent.
And anyone who would try to set up some arson, which may have happened before ...
Simply, the whole architecture is made so that it is impossible to do it mathematically.
There is an almost incredible possibility of attack,
if one person has such a computing power
to have 50% of the computer in the network, then he could manipulate the data.
But so many computers are embedded in one block chain,
these are very large numbers to manipulate with, believe me, that's impossible.
As we can hardly understand it, I see that it's not easy for you to explain it, too.
We will need to learn much more in that direction. But, we will have to, really,
because it's obvious that the whole world is heading towards it, and that's the future.
At the end of the show, we watched the footage from a seminar that you held a few days ago,
where there were people who recognized it, and came to be informed about this leading young team that is doing it.
You just mentioned a little while ago that you want more woman to generate in this topic,
because in the world this trend probably exists, so it would be good here to happen.
Yes, we held the first seminar on the Women's Day on March 8,
which happened accidentally, but it turned out to be nice in the end.
We held it at the Science and Technology Museum
and we are very pleased that one such institution stood behind us as a partner.
I'm glad that there really was a lot of women,
because I somehow always support and struggle for women to deal with the most advanced things,
especially as the increasing trend in the world is supporting women in technology.
This was the first seminar, the speakers were the developers from the company,
and Mr. Walid Messaoudi, the founder, who is currentlly positioned on that scene of block chain and crypto currency,
as one of the founders of Arabian block chain technology, as well as the Dubai coin, which has long been on market.
This means a lot to these young people as they have someone who can guide them,
and who already has a strong reference in this world.
On that day, as a sign of support to women in technology,
we gave away to all ladies who were present one voucher worth 50 Goldiams,
so that they can all come and take them in our offices in Mite Ruzica No.8.
ICO - Initial coin offer starts on March 20 and lasts until May 18th,
and then the entire Goldiam project is presented to the general public, see on goldiam.io.
I'm sorry for a little delay, this is a gift for you as well as for Dunja, a cameraman here in the studio,
a woman who works on 3 cameras here and therefore is already a technological wonder.
So, this is how it looks like! Thank you,
and when the moment comes, I'll come to tell me again what to do with this.
It is a sensitive subject, it is new to all of us, but it is very interesting,
I think that we all recognized the actuality of all this. I would like to continue this story
at some point when it intensifies here and I want you all the best in everything you are developing.
Thanks for being my guests.
Good bye until tomorrow.
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