сделай пересказ текста на английском,с учетом всей важной информации : Track 8

Reza A. Reza Reviewer In 2018, a cup of coffee in Venezuela cost less than one Venezuelan Bolivar. The same cup of coffee by March 2019 cost 2,800 Venezuelan Bolivar. That's a crazy jump of almost 400,000 percent. Such currency volatility led three million Venezuelans to flee their home in the last two years. Because of the currency volatility, the prices of commodities like food, water, medicines almost become impossible to afford. And poverty-led street violence is expected to drive another two million just this year, this self. The sad thing is, it's not even a unique story. One out of every 108 person in this world is forcibly displaced. Why? Corrupt politicians, inefficient management of international loans, mismanaged taxations are just some of the reasons which can cause a currency to lack trust and lose its value in an incredibly short period of time. Today, it is worth something, and tomorrow, almost nothing. There's no single solution which can fix this. But there is a change, a magic wand, which largely seems to be ignored because it seems complicated, almost impossible, and perhaps even undesirable for some. A single, stable, decentralized global currency. It would reduce currency volatility irrespective of your local economic or political unrest. It would open up a True global marketplace. It would enable freedom of movement using global identity. And yet it will be more secure with better data privacy than anything that we have today. Magical, right? I've been traveling the last 15 years all over the world, from Africa to Middle East, Asia, America, studying and investing in fintech, blockchain and cryptocurrency. I've seen the gaps and the possible solutions at the grassroots. In my opinion, the biggest revolution since the digital payment systems, such as PayPal, Venmo, has been blockchain and cryptocurrency. As many of you would know, blockchain is a decentralized, and a decentralized, a decentralized, a decentralized, a decentralized, Venmo, has been blockchain and cryptocurrency. As many of you would know, blockchain is a decentralized, immutable, time-stamped ledger which provides transparency of transactions and data privacy. It underpins cryptocurrencies such as Bitcoin, Ether, Ripple. Well, there are over 1,600 of them today, which aims to settle across the border immediately. Thanks to these platforms, I do feel like that magic is almost becoming a reality. And yes, it is an evolving space, so there are a lot of roadblocks, such as governments. They don't want to lose control of their monetary policy. In fact, you can go to jail, and I'm not kidding, you can actually go to jail for using cryptocurrencies in some part of this world. Volatility. Cryptocurrencies themselves have become so volatile. Most of you must have read about the crazy Bitcoin price swings from $20,000 in December 2018 to $6,200 two months later. And scalability is still the biggest bottleneck for the technology today. We have reached 10,000 transactions per second, but we have yet to reach 10 million. So acknowledging this and way more, and I am not saying that cryptocurrency is going to be the solution for the global currency, but this is closest to what's touching people's lives. Let me actually take you where it's changing people's lives. Do you remember Venezuela? Just the week of July 20th in 2019, this year, a local Bitcoin exchange alone generated a volume of over 56 billion boliva. Various local nonprofits, such as GiveCrypto.org, Open Money Initiative, Bitcoin for Venezuela, have started dispersing bitcoins for humanitarian aid relief. Over 40 bitcoin exchanges have opened up locally just to provide liquidity, and even bitcoin ATMs have opened up on the border of Venezuela and Colombia for Venezuelans to convert their bitcoin into Colombian pesos as soon as they cross the border. Imagine if such movement would spread across to more and more countries. The stability for an average person would increase. Cryptocurrency would not just be a way for an elite to diversify their portfolio, but for an average person
14:15


o increase sustainable wealth. Now let's talk about global identity. Having verified information, such as your age, education qualifications and financial credibility, securely saved over a blockchain network, which moves with you, irrespective of your country of origin or your citizenship, is a magical, powerful key. Global currency, matched with global identity, is providing such power to various international humanitarian aid programs to help refugees rebuild their lives with dignity. UNDP has recently partnered with Irish Red Cross and Lebanese humanitarian groups to launch the first-ever international aid delivery program over Ethereum blockchain network to ensure that refugees receive aid in a transparent manner and with dignity. That's more than magic. Just imagine if you and I, all of us, would have a global identity. Even we won't need days and months to prove our education qualification in a new country, or even years to rebuild our financial credibility again. That's just powerful. Apart from volatility and global identity, a global currency also helped open up a True global marketplace, something which is very close to my heart. A project which is bringing us closest to it as of today is Libra, launched by Facebook and 27 of its partners this year. Libra is a cryptocurrency built on a stable and secure open-source blockchain network, backed by assets of real reserves and governed by independent organizations with members such as MasterCard, Spotify, Uber, among others. Libra aims to be a single digital transactional currency for many apps, such as WhatsApp, Facebook, Instagram, Uber, for millions of its users and 1.7 billion unbanked users. That's powerful. There is a man I know, very dear to my heart, named Jumna. He makes beautiful carpets in Iran, 100 percent woolen, depicting the old world poetic charm of Rumi. But he cannot sell his carpets in international markets due to archaic technology, banking restrictions and a very high cost of settlements. So the billion-dollar market of Amazon and Alibaba does not exist for Jumna. So a marketplace like Libra could be life-changing for him. And I'm not even talking about Iranian restrictions or politics here. With Libra, all Jumna would need is a decent phone, internet connection and probably a bank account. Jumna could showcase his carpets over Instagram, connect with his potential buyers over WhatsApp and then receive his money using Facebook Messenger's wallet, Libra. The money would be credited to his account immediately over a secure and traceable network, enabling him the same opportunity as you and I have. Chumna could take Uber back home, pay for his son's school fee, or buy food using peer-to-peer Libra transaction, or he could save it in the future to convert it directly into international currency if needed, thus enabling him a True global marketplace, which he didn't have before. This is actually more than magic. But Libra is just one such initiative. Big banks like JP Morgan, Santander, Deutsche Bank are coming up with their own blockchain architecture. So I'm very excited about all this movement in a global currency to make global marketplace happen. But I'm still worried about a corporation having so much of my data and so much power over me. Despite this, I do feel like, among everything we have, Libra is closest to spreading money more evenly in this world. And of course, we can't talk about evolution of currency without talking about technology. Decentralized databases and filing system provides extreme measurement of security today. The days of taking two or three backups are over, it just makes us vulnerable to more hacking. Decentralized projects such as Storch, SIA, Filecoin, among others, takes all your data, fragments it into millions of pieces and then stores it over thousands of nodes, thus enabling the highest level of security possible today. All of this is happening today, and there is so much more which is already becoming a reality. We are teaching blockchain and cryptocurrencies to our next generation in schools and colleges. Worl
14:15


d Bank has recently launched an Ethereum-based bond, raising 110 million Australian dollars. Cities like Zyuk and Siasso provides you a digital sovereign identity and then let you do transactions, pay your taxes, buy land online using cryptocurrency. Startups like BitPesa and Coins.ph allows you to send money back home using crypto, thus eliminating the high volatility and high cost of settlement from the remittance market. BlockFi and NEO even let you lend money in crypto globally, and with Dusk, you can buy and sell bonds, shares, stocks all over the world using cryptocurrency. And with Libra, with its single transactional currency, buy and sell bonds, shares, stocks, all over the world using cryptocurrency. And with Libra, with its single transactional currency, I hope it helps to open up a True global marketplace. All of this inches us towards a more stable, secure place, where we inch us towards a True financial and economic inclusivity, where every citizen in this world has the same choice, same dignity and same opportunity. A single, stable, decentralized currency, a global one, and I really, really hope jail-free for you and for me. Thank you. t