Hello, everybody welcome back for another video hope, you're all doing well and that you're all having an incredible day to start things off, Ethier, iums, serenity will launch by the end of this year. This is, according to consensus, co founder andrew keys, given the current state of development, though, a few share his excitement in a 7th of January Post, published on the consensus side Andrew key shared his predictions for 2020 Keyes, was one of the cofounders of consensus. Having since become a managing partner at Dharma capital, while Keyes's prediction touch diverse themes ranging from the world economy, the human rights to are especially notable for their optimism. According to the executive, 2020 we'll see Theory amove stridently beyond phase zero of etherium 2.0 onto phase one and the large large and the launch of shard chains. In addition, while serenity continues, development key believes that layer, 2 solutions will turbocharged aetherium and bring it towards 2.0 levels of scalability at layer 1. The recent Istanbul heart fork was the last stage of aetherium 4.0 introducing several improvements and adjustments. Some of the core aetherium improvement proposals or eat IPS that went into the upgrade were closely related to zed cash aetherium improvement protocol proposal 1 v 2. Improved announcer operability, not really that important that catch. On the other hand, meta Labs is attempting to leverage snarks for scalability on a basic level. It'S Zed K. Sync technology will allow offloading of the majority of transactional computations off chain.
Finally, plasma focuses on creating side chains for specific use cases in a 2019 interview. With coin Telegraph, CEO of consensus, Joseph Lubin, explained he said, plasma is a class of technologies that allowables you to have less decentralized platform sitting at layer 2 in the etherium ecosystem. They can a benefit from the full trust. In some cases. Sometimes they benefit from partial trust, but if they're linked in real in really rigorously dempster, you didn't say that they can benefit from the full trust of the base layer and you can get the best of both worlds. End quote a lot of people so stay with me on this. One I've been with aetherium for a while a lot of the people from etherium, for some reason, were relatively quiet last year, but only 14 days into this year. Everyone seems to be very vocal about the fact that aetherium 2.0 is going to officially launch. I believe we are in the beginning phases of aetherium 2.0, with the artwork that we had on the third, but the other implementations, especially sharding, apparently are also going to be coming as well. The entire discussion of sidechains also continues to pop up and exactly what this will do for a theater, um scalability and then we're also getting the information that, sometime this year, the base one layer of aetherium will be able to handle at least 3000 transactions per. Second. What really caught my eye for those of you who heard the word and your ears perked up it's the word plasma plasma I mentioned about a good three weeks ago, is something that we have not heard of in over a year.
Plasma is supposed to be the end, all scaling solution that we had heard before from the people from etherium and also a Mesa go. They were both working on it and the fact that we even heard about plasma at all was kind of like a really weird. Like when I read this, I was like okay, especially since plasma hasn't been spoken about in a while. The really interesting part is for those of you paying attention. I was looking for news and lo and behold, one of the first things that pops up is news about plasma. It says plasma scalability for the etherium network is now a matter of implementation. This is, according to the nonprofit plasma group, the nonprofit research organization, plasma group announcing a 9th of January blog post, that it would cease studying aetherium scalability, identifying funding of public goods as the next key challenge. It pledged to donate its funding or remaining funds to get coin. Plasma group was founded in January 2019 with the goal of pushing a research towards there, ium scalability solutions based on plasma technology. It received funding from a variety of organizations, including the etherium foundation consensus. Oh me say: go maduk network and get coin. The nonprofit used this money to conduct research, solving practical obstacles, 4 layer to scaling solutions. The team identified several of us achievements as key, including creating plasma cash flow implementations, releasing a generalized plasma specification and coining optimistic roll up. He served primarily to make plasma side chains to a fully fledged blockchain supporting smart contracts, as opposed to just limited to money.
Transfer capabilities after one year of operation, plasma group reached a conclusion that research efforts into plasma scalability are unneeded, as the theoretical base is now mature enough. They said a year ago, scalability research felt like the most pressing need to us, so we threw everything we had into accelerating it. It is amazing to see the multitude of competent teams pushing production plasma into reality. Now this shift from research to implementation means that our mission as a research organization must shift as well. So while the plasma group was formed in January of 2019, we have heard about plasma since the end of 2017. I assumed this was beginning to be formed at the end of 2018. This is one of the I guess. Maybe hmm plasma was touted as the main kind of scaling solution is kind of the same exact way that we heard about the UM what's. It called up up up up up all the Lightning Network. 2017. 18. The Lightning Network was seen as the only viable major scaling solution or layer, 2 sidechain solution to the Bitcoin network. Plasma was also kind of the exact same thing. Whenever you would um, you would see like article that had plasma, but they would have like things of like lightning in the back, as was be similar to the Lightning Network. So I guessed I want to say that most of that has has passed as far as that entire idea, because since then we've seen so many other side chains popping up and so many other layer, two solutions proposed.
But apparently, after all the hubbub, it appears that I don't want to say that it's done, but they the way that is phrase is that is now a matter of implementation. But they also noted that they see plasma being pushed and pushed into production. A lot of peas there so yeah. I just thought that was very weird: the timing of it. The fact that we were hearing about there's, a and and and and the reason why this article popped up for those of you who don't know there have been and I'm going to be, not as nice as possible. There are a lot of blockchains a couple of them that have been around since around late, mid 2017 or early to mid 2018, who had claimed by now that they would have full implementation. Full upgrades full this full that be completely done and they are not done and it looks like they are not going to be done any time in the near future. I'Ll, let you do your own research on exactly which coins those are it's about two or three of them, and a lot of people and their communities are getting a little riled up and annoyed, because you can't tell someone I'm going to be able to do a Million transactions per second by the end of 2018 and then 2020 rolls around and you still are barely on your test net. So I think the people from aetherium have realized that they are also not as safe as they probably think that they are as far as um.
You can't keep saying that you're going to do something, and then you never actually do it. You can't say that aetherium is going to have 3000 transactions per second in 2018 and then in 2020 you're talking about yeah, we're we're, definitely gon na have it so I I just assume that they're feeling the the pressure, if you will from actually having to implement These things that they've been talking about, I mean ztk snarks – is that Kate, Starks plasma, sharding sidechains layer, two solutions. The list goes on and on and on, and I think we only have very few of these things actually on top of aetherium, if none at all that have actually gone into full blown implementation worldwide. Let'S see if we end up getting more news this year about plasma or other companies or organizations are going to be using plasma. However, actual here's, the actual blog post from the plasma group with a little Rick and Morty shot that says on to new beginnings right, let's, move on next up. Cryptocurrency users are often targeted by criminals and scammers. All the freakin time, particularly emails, can prove to be an incredible ly harmful in this regard. It appears a few phishing emails are making the rounds once again. One of them claims to come from by Nance, even though it is clearly not. Anyone who looks closely at the actual sender will notice this fairly quickly there's a fake email floating around.
This is pretty much the news. I'M gon na try and cover these a lot more. I used to kind of just brush past them. As far as like everyone knows, what's fake everyone knows what's, not real. A lot of people keep getting scammed. I saw someone in the comment section yesterday now I've seen a couple people, the one that I can remember off. The top of my head was at one yesterday and someone else about a couple of weeks ago who were asking if those YouTube channels where people say, if you send me a light coin and I'll, send you ten if they are legit and they are not legit. If you get any email or someone calls you or sends you a message in some sort of way saying that they are by Nantz or coinbase, and they ask you for your ID, your social, your blood type, where you live any personal information that you have never Had to give to coinbase don't give it to them. I mean, even in general coin. Mesa would already have that information, so don't give it to someone else, who's randomly telling you to call them, and on that same exact, note um. No, I do not have a telegram. No, I do not have an Instagram. No, I do not have a reddit. No, I do not have anything else. I use YouTube and I post on Facebook and on Twitter and that's it. A couple of people have been asking me the last couple of days.
If I am on this platform, someone contacted them saying that they were me and if I should them, if they should send them 20 to get some type of helpful advice, you are being scammed. That is not me. If anyone sends you a message like that curse them out, I mean just let loose. I don't know what else to tell you. Yeah scams are very rampant because there's a lot of money to be made and where there's a lot of money to be made, there are a lot of people who are gon na get scammed, yeah let's move on mix up. Recent reports indicate that South Korea is actively considering the idea of releasing its very own digital currency, thus joining several other countries in this endeavor. As such, the Asian country is currently in the progress of setting up a task force in charge of carrying out a thorough research of the opportunities and disadvantages associated with central bank backed digital currencies. According to the Bank of Korea, the central financial institution is committed to fully understanding the digital currency market and related technologies such as blockchain. In a recent report, the central bank sated, we will actively engage in discussions with the Bank for International Settlements and other international organisations. Keeping an eye on national digital currency developments at other central bank's. Another interesting aspect worth pointing out is that the Bank of Korea recently spoke about his desires to hire blockchain and digital currency professionals.
Similarly, in December, one of the bank's main representatives also mentioned its plans of releasing a digital currency in the future. At this point in time, it is believed that central bank digital currencies can offer several benefits to the traditional financial infrastructure. Yet again, another country with news about releasing a digital currency of some sort, one of the main what's, the word one of the main things that they say in opposition to this is that they either don't need them or that the public isn't currently asking for them. I don't see that anywhere in this one, but I assume this is also one of the main discussions is that they find the need for digital currencies in the banking sector, ie banks sending funds back and forth between each other. However, for the actual consumer. For me, you us them outside paying in stuff, they see no actual need or a demand from consumers for this type of thing. Keeping South Korea. In your mind, South Korea crypto currency exchange bit hum has pledged to invest roughly 8 million u.s. dollars in the Busan blockchain zone. The region was recently declared regulation, free, uh huh by the national government and modeled after the Switzerland town of Zhuge bit thumbs. Subsidiaries gcx alliance will discuss the preliminary plans with the financial services commission or the FSC in this month, and then they talk about. I think a hack they lost some money, some numbers their bid. Humma is one of South Korea's top digital currency exchanges among other competing at South Korean based trading platforms like up a bit and core bit wise, wise, wise, wise bit, always in everyone's name there's.
So many there's, so many other letters in the alphabet and everyone always chooses bit for the very front bit. Hums exchange hacks of 2018 4th the company to work with Kisa the Korean Internet Security Agency to help recover their losses. Busan is allegedly one of the seven regions that the Korean government has chosen to pilot distributed. Ledger tech and crypto solutions bit hum is also no stranger to Busan, as the exchange operates, a walk in customer service center in the zone. The other interesting part was, he says, Busan, isn't, exactly an area where blockchain developers and companies can create whatever they want. This is why it was really wither. They said that it's, like an open zone when it's, really not I SEOs, are not acceptable within the Busan region. The area in busan is meant to be similar to tubes famous crypto hub in Switzerland, but there are still restrictions. The public caught wind of special blockchain zone within the ministry of SMEs and startup religion – I biggest boo signs of Papapa populations outside at the point being we had information before that bit hum was I'll put it to you. This way bit home got hacked. I assume around 2018. I assume the government and them got very, very close and, along with that closeness as being one of the more trusted names in South Korea, they probably got into discussions as far as building within this zone, and I can only assume that, since we had the news That the South Korean government is potentially looking into the idea of creating their own digital currency.
I assume it will probably come from Busan as well, which means this part is is, is this part is hyper speculation? It home will probably have some type of doing in the creation of their digital currency. No one really puts 8 million into something unless they can get money out of it. We'Ve also had news before that there were other blockchain cryptocurrency companies who were helping countries with very cryptocurrency regulations and also helping them with the creation of their digital currencies. And if you remember, we had news that by Nantz was also one of them as well. I think Bono's was, and then they spoke to the ministers of Ukraine and maybe one other country I don't remember who, anyway, something is a brewing. I assume we won't really receive any of these things about a year or two. Apparently, we are but four months away from China releasing their digital currency, but besides that, I assume everyone will wait about a good year to see how much control can be had by an entity with a centralized digital currency. Let'S move on next up, while several countries are no and entities are starting to consider that launching their own essential bank digital currencies, Australia, might be on the opposite side. The nation's Reserve Bank seems to think that there is no current need for such a product among consumers or customers, as the payment system now is stable enough. The Reserve Bank of Australia has been exploring the potential need of a digital Australian dollar, but it has concluded that there's currently no need for it.
According to the final submission that the bank sent to the Senate to this very little demand for a central bank, digital currency among customers, it also says that Australia has a stable banking system at the moment. Okay, which has shifted away from cash and checks to electronic payment methods over the last few years, the bank informs that having a low cost real time, similar method as the new payments platform, where the NPP reduces the need for a CBD see, they said there would Be little demand by households for such an asset, given that they already have a good access to digital money in the form of commercial bank deposits that provide payment services and interest bearing and are protected up to a quarter of a million dollars per account by the Financial claim scheme. It is also worth noting that the bank worries that if a digital currency is to be implemented and starts receiving widespread adoption, it could decrease the banks deposits. There we go that's, all they really care about which would ultimately provide fewer funds for loans. They would get less money. Like I said, every country, every major country, it seems, is doing tests behind the scenes to see about the potential implementation of something like this. I assume relatively few of them are going to be doing this over the next couple of years. Australia also hasn't really been not that they're, not crypto friendly they've been very attackee to other crypto projects.
We also never really get news about anything opening in Australia like when was the last time we had news that there was a crypto currency project exchange or something that was opening in Australia, and I mean adding the Australian dollar as a fiat pairing also doesn't count. So that's the Australia central bank no need news for today, here's the actual submission from the Reserve Bank, of Australia about the topic and let's move on and to kind of finish things off is right. Blockchain e government e news today, the US Treasury Department is concluding a series of tests of a blockchain based platform that monitors grant payouts program manager. Craig Fisher revealed that the agency is nearing the completion of a proof of concept program that would track the letter of credit, the recipients of financial grants, the blockchain based platform, token eise's, letters of credit which are transferred to grantees through peer to peer transactions, including this Was reported by FCW, the process enables the Treasury Department to monitor the release of grant pals from the government's purse the qualifying recipients, the tokens are also. They also store pertinent data, including grant amount and grantee information to secure Lea. Can I read to securely receive the grant money recipients would have an electronic wallet that's linked to a bank account Fisher, who won packs his thoughts on blockchain in a next gov article, where he deliberates the billions of dollars. Governments and private corporations have made in the technology that underpins Bitcoin affirms that the new US Treasury platform is a private system, as opposed to a decentralized open network that can be viewed by the public.
I expected no less. I wasn't expecting any US government thing to announce that they have an open blockchain anything. Can you imagine how I think that would shock everyone if not anyway, it's never gon na happen, the entire point, being all walks of life seem to be testing cryptocurrency, blockchain solutions. This was also kind of news that was sprinkled around on the internet. You could kind of find it in a couple of places more places than just one, and I guess the news being is that the US Treasury Department has their own or is conducting tests of their own blockchain when they have to send out money for grants. So yeah that's the that's the news, as always a very special thank you to my patreon supporters, professor Wally from Gunn BOTS University chongo, Lolo, songololo Nostromo mr. pickles John sarsen, the animal reader, a biblio phobia bare bones: mining Todd, Mullis, Adam gracyk, mo Hammer, Oni master Ventures in Thailand, pretty Niels Jaron, Schneider wise night, owl, 2, 4, 2, 2, the world grip, dojo Bank, Road Network, adobo man, Luisi, crypto artist, cold, e3d, Nicholas Werner, one piece: one love damien, setsuna, nick Kanaya rich. He reached the third Vlad. The Impaler Krypton Bishop made taxes Nick mangia Livadia, the new Charles, Jim, garner, Jamie Foxx, minting coins, Miller, hitch, chest everyday and Kyle skips leg day. Yes, crypto, but it mcboatface Anytime, Fitness monks, corner staff are medic. 17 bake me a cake and Tikaram a cone Issa macho I'm.
Never gon na get that right. I want to say a maken Issa. Thank you all very, very much for your support at the moment. For those of you who are not looking at the screen, we have an interesting thing happening with the markets about a good six hours ago, six seven eight hours ago, Bitcoin shot up. It is currently at eight thousand four hundred and ninety two dollars when I saw it before making this video. It was at eight thousand five hundred and twelve somewhere around there. Roughly around that number, a lot of coins started popping up. Litecoin is currently up by seven. Where are the other? Really weird ones is up by 22 Zeke ash is up by 15 and Bitcoin gold is up by 26 as well. A lot of these numbers don't make sense to you and or to me so I'm going to do some hunting as to exactly why this is happening or what could have triggered this. It could be a runoff from the whatchamacallit from the launch of the options and all the other things that we got launched. Yesterday I was looking at the chart a couple of minutes ago. It was very, very weird, tethers chart. You can kind of see it right here. It was nuts every three seconds. It was a huge spike and then would slam back down. It was another huge spike and it would slam back down so some things going on within the Crick, no currency markets.
I wonder if this has something because most of the world at this time of day is still sleeping or just waking up. So I wonder if it is the Asian market that's having some type of an effect on all of this going on. I will keep you all afloat and tell you if I find anything. I hope you all enjoyed hope you all are having a great day a great morning a great afternoon a great evening wherever you are wherever you might be, a do hope, it's. Absolutely fantastic! Thank you all once again for watching and or listening, and I will most certainly be talking to you all soon see you you