Item Number: Y0007 Type: Video Transcript
Episode 5 - Shortage
0:00:00.600,0:00:08.771 so that I think that the internet is going to be one of the major forces for reducing the role of government 0:00:08.771,0:00:24.420 the one thing that's missing, but that will soon be developed is a reliable eCash 0:00:27.360,0:00:32.580 'massive worldwide chip shortage' - 'earnings being caught by up to two billion dollars' 0:00:32.580,0:00:38.678 'we don't have these chips we're in trouble'- 'It's been months and you still can't buy a PlayStation 5...' 0:00:39.483,0:00:44.057 computer-chips, fertilizer, energy 0:00:44.057,0:00:51.952 important commodities abundant for decades are disappearing. we're seeing this impact from two sides 0:00:51.952,0:00:58.864 in some cases manufacturing and supply chain challenges are reducing available supply despite our best efforts 0:00:58.864,0:01:04.620 in other cases politicians are bending over backwards to create shortages 0:01:04.620,0:01:11.940 environmental concerns about nitrogen restrict agriculture and, consequently, food supplies 0:01:11.940,0:01:17.820 war in Europe blocks the supply of Russia natural gas. And Germany where environmental concerns 0:01:17.820,0:01:24.334 have also restricted nuclear power Google searches for firewood are skyrocketing 0:01:24.334,0:01:30.545 what happened to the Future? Where are the modern solutions to these seemingly simple problems? 0:01:30.545,0:01:39.180 time and time again political problems rewind technological progress. Libraries are burned, civilizations collapse 0:01:40.380,0:01:45.960 but how do you rewind a blockchain? Even if political forces succeed in knocking back a few blocks 0:01:45.960,0:01:51.193 the public nature of blockchains allows the entire world to see what happened 0:01:51.193,0:01:57.600 the same is true for open source software technology. Once the code is published, it's exponentially 0:01:57.600,0:02:04.703 more difficult to erase that progress. Every step forward is instantly available to the entire world 0:02:05.640,0:02:11.400 amid Rising political attacks on technological progress the importance of such robust systems 0:02:11.400,0:02:15.574 and anti-fragile growth has never been higher 0:02:15.574,0:02:19.918 This is what we're building at eCash
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