I, V, M. Hello, speaking to you. Yeah. How do you think it's going?
Well, it's good. Fun times we are working on a very exciting thing and our factory and all my time is being consumed by the high. That is an industrial mogal by the way in case you guys don't know. Not so much of mogal actually.
I run a small little garage outfit where we make odd zenens. So one of the things that we are planning to make is a gas turbine which will generate electricity and deliver clean water as well. So it's very, very initial. So I've teamed up with the last time I created anything.
The last time I created a gas turbine was giving my MBA in marketing. He says he makes nuts and bones for living but folks the last time the sense of scratch nothing was the way you want to draw your own conclusions if you will. That is probably my wife. She stopped shopping for a while and sent me a marketing.
You had some pretty interesting experiences in your factory though. Actually not so much work related but it was this time. It's my claim to immortality. So Einstein is immortal because he discovered the theory of relativity and...
Gravitational is a speaker of all transportation layers and stimulatories immortal because you know he did what he did. So my claim to immortality is this. I actually had to file an affidavit. Which said that Narendra Shani and Mr Narendra Shani are the same.
He is serious. Absolutely true. So what happened was I was importing some furniture and it so happened that I wasn't in town. And the furniture came and the customs I don't know.
I'm not sure whether there's a customs or the port authorities. Someone said that it's addressed to Mr Narendra Shani but your IEC court says Narendra Shani. So we need an affidavit to say that both are the same people. I wasn't in town so I had to paste you know, demeraged.
But by the time I got back and done it was more than a week or ten days or whatever and they made me pay money for that. So what exactly did they question the Mr. part? Hmm, I it's a Mr.
but you know I was really honored. What else could it be? Doctor. I actually filed an affidavit.
I'm so proud of this. I heard of an artist in the UK that actually incorporated herself as a company. It was like a bit of satire to show. So we keep talking about think of corporations as people and because of that they get away with a lot of tax benefits or whatever the case may be.
So he was one artist who actually incorporated herself as a company. So she was saying this is true. So you actually said so our board meetings are just me. So I have the pressure the MD the CEO and everybody in the board room.
So basically me. So I move from one meeting to the other basically just conversations with me. He's hilarious. Let's get on to the show.
We have a bit for you today. Now in yes, can you guess what the biggest e-commerce day in the world is? Black Friday. No.
Okay. The day that Flipkart and Amazon give you the 25% whatever off. No, no, no, no. Oh, yes.
I remember that was 10 flipkarts now. Even Amazon all advertised on the same page on. Maybe I have started to record for the TUI sales team. But again, no.
No man, you got me. What could it be? Okay. So this is a day in China called Singles Day.
Wow. It's not cricket based at all. That's one thing that we are better than China. So it had to be China.
I mean, what else? Okay. So this is fascinating. Okay.
It's a day where people celebrate being single. Okay. So there are apparently many such people in China. Singles Day last year, raped in 14.3 billion dollars for Alibaba.
Wow. Okay. That's up from 9.3 billion the previous year. Now I don't know how much Amazon made on Black Friday.
They didn't reveal the sales. But I'm guessing it's way, way, way less. The entire revenue for 2015 was just $200 billion. So 14.3 was just in a day?
Yeah. Just in a day for one website. So I'm guessing, I mean, for everything else combined. So it wasn't always a shopping fest today.
Okay. It started off in a Chinese university called Nan Zhang, or how you pronounce that, in starting in 93 to celebrate Singles Hood. Okay. There are many stories around why Singles Hood is apparently there was one theory goes where Dom's students, girlfriend died of cancer and all the students came together to sort of make him feel better and stuff like that.
And that day has been celebrated. So there are a few myths that go around. But in any case, fascinating theory is always celebrated on 11th November. And you know, 1111.1.
So that's, you know, Singles Day. Singles Day. By the way, John Oliver had a fantastic sketch where he mocked Singles Day. And he said, if you really wanted to celebrate what single people actually do, you should have the number four because that represents what Singles, I'm not going to tell you because of family vodka.
Okay. So now it was Singles Day that celebrated for a long time in a small measure. And in 2011, it assumed another dimension altogether because it was 11.11. So there was shopping offers, government has just grown year on year.
So it's actually one of the biggest, at a time when China's numbers are overtaking everybody else in the world in terms of internet and people who use VChat and things. They're fascinating. And I'm also told that they're suffering the pangs of, you know, pangs of riches. So they're like, all of a sudden they have a disposable income.
And they have all kinds of aspirations, right? They need to, they need a house to live in. In the good old days it wasn't like that. You could live with your parents who stay in your village.
And I know also we are Stolies coming out of China. That is a weird country. And it's in trouble. It's in trouble.
And so I was talking to someone, an economist friend. And he says... You have his friends. He got him his self-friends.
He would have friends. Okay, now wait. This reminds me of one incident from S Prime Minister where there's, you know, one of the episodes there's a Russian run on the pound and Jim Hiker is live it. So he says, why didn't he so Humphrey tell me about it?
Because he's the home, he's the cabinet secretary. So, Bernard Woodley tells him that, you know, I don't think I'm free. Understands economist. He read the classics, you know.
So what about so frank? He's an economist. Yeah, he's an economist. That's why he didn't know it.
For future reference, no episode of simplifies going to be complete without either Buddhism or U.S. Prime Minister. Go from there. You want to tell him something.
How about an economist friend of yours? Yeah, so he says you should go down. You know that feeling when you finish a movie and you just need to talk about it? That desperate need to discuss why Kallhuna Ho hits different.
Enter IBM's brand new podcast, Sinefai. It's streaming and current just yapping over Hindi cinema every Friday. romcom's director of the debut's career defining moments. Whatever they're vibing with, they're breaking it down.
Join the podcast on IBM Pops YouTube or any audio streaming platform. Caution. You want to rewatch everything after listening to us. Come join us on Sinefai.
Namaste, sashira kal. Good morning, evening afternoon. My podcast is titled sales. When no guest, no topic and no filter is saved from further brochure.
That's me, Monday to Friday, Saturday, Sunday, I'm with all kids. We chat with celebs. You'll never meet traffic jams on streets and people from all professions. Every one day I go live with the show, ask me anything, AMA, you tell the questions.
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I'm so short on the UN if you can do that, the Chinese currency. So I said how? So he expects to fall by 30% at least for the next two months. That's a prediction.
That's a prediction. Let's see if it happens. Alright. So I'm going to take a little break right now.
When we come back, we are going to explore a fairly interesting type of currency called Bitcoin. See on the other side? Stay tuned. And we're back if you guys are still with us, if you're not comatose.
Let's get right into the main topic this time. Bitcoin. Nothing. Nobody understands Bitcoin.
Join the bank. Yes. How about you? When I say Bitcoin, what do you think?
What are you able to comprehend? I don't know. I mean, I know it's not a little piece of metal. It's a piece of metal.
I know that it's some new-fangled internet currency, but I have absolutely no clue how it works. And I think I don't think anybody actually understands how it works fully. You know, like there are some words that people just keep using so many times that, and they all pretend like they know the word, but actually nobody actually knows what it actually means. Like paradigm.
Like paradigm. No, I keep using it all the time. I think it's very important to talk to where a consultant comes and sits down and he says, we need to change the paradigms. What is the paradigm?
It's like a paradigm. Shakes me all that. What else makes a reference? There's the famous handage speech to be on.
There's one line which says, who would fardles bear? So apparently, what else? I thought I was Richard Burbage asked Shakespeare. What is fardles?
I don't know. Just say it quickly. So you say Bitcoin very quickly and all that. So this word is actually a little bit, so Bitcoin is actually a little bit like that.
I know what you mean. I unfortunately have many friends from the financial domain who have to hang around with once in a while. I mean, you can't get out of these things. And they tell me that things like Bitcoin is going to be a game changer.
A game changer. So when I asked them exactly what Bitcoin is, they look like an engineering college student being asked a technical question doing an MBA interview. Can it happen to me? Yeah.
One. In those days, I... By the way, I was asking you to imagine staying on topic for us is very, very difficult to ask. Yeah, we are really sick.
We are giving it to anyway. They asked me really complicated questions in structural mechanics. And I was like a born MBA. So I decided to bullshit.
And the guy who was sitting across, he was something, some guy who did structural mechanics for a living day. So he really dismantled me at that. I'm very embarrassed. Did you get through?
Yeah, so I think that's the fact that I attempted to bullshit. Yeah, so that's what's saying. So for MBA, it was more important than theoretical knowledge. It's actually our ability to bullshit.
Why companies hire MBAs to understand other MBAs? So I think that's what he was testing. You're not whether you actually knew the NRCB equation or whatever. That was why.
So, see, I totally understand this whole... Yeah, we need to get back to Bitcoin. We need to get back to Bitcoin. Just another thing about MBAs.
MBAs don't speak like regular people. Like, while taking a selfie, for instance, a normal person would just say, tell your ex-selfily. An MBA would say, a proposal meeting. I'd like to table a non-contractional obligation, who's executive summary can be summed up as follows.
I propose a pictorial remembrance of being in each other's locusts by means of a digital image. The said image can be affected using a cellular phone which should be readily accessible by either party. In whereas the image capturing mechanism, called camera, located on the anterior side of the cellular device, we used in the result of an image move to a commonly accessible cloud search wherein any party with adequate permission will be allowed to view it and leave a positive or negative remark there by aiding social validation. Wow.
You've been hanging around with Lions too long. OK. I'm just making a comment. Let's not focus on both of us at MBAs.
Actually, yeah. I mean, someone told me you shouldn't confess that easily. No, confess on it. I think now we should get back to Bitcoin.
I think it's been a while. OK. Before we start, I need to ask you a very fundamental question. What is life?
No, no, no, not that fundamental. What is currency? You know, what is currency versus money? OK.
Currency and money are both things that I don't have enough of at the moment. Fair enough. Apart from that? Currency is something which I physically have in my hand and money is something in my hand.
Yeah, that's pretty much it. That's pretty much it. So currency is like a system of money. So rupees, dollars, even those rubbish coins that you earned in farm will.
So that's not a secret. It's a secret. It's a secret. It's a secret.
It's a secret. It's a secret. It's a secret. It's a secret.
It's a secret. It's a secret. It's a secret. It's a secret.
It's a secret. You see money is a concept. You see, when we progress, initially we had butter. Like, you want to eat, I have a cow.
I have to give up my cow and order to get the weed, stuff like that. We progress from the butter system to the monetary system where the notion of value is exchanged initially on piece of paper. So money has value because we think there is value in it. OK.
Otherwise, that piece of paper has as worthless as a kingfisher, airline stock document right now. It might have worth if it's printed on soft and a pl Katz. So we should really be asking how much currency we have. I actually guess so.
It makes sense in how much money you have. So anyway, so Bitcoin is just an other currency like the rupee or dollar. The difference here is it's a virtual currency. No.
Of course, one could argue that looking at the way the rupee is these days, that's almost virtual. Right. But this is actually virtual. It's a decentralized currency.
Decentalized means it's part from that. No, no, no, no. So regular currency like rupee, dollar, and all that are regulated, they're printed by a central bank. Like we have the RBI India, the Fed in the US.
So this has these systems have any inherent flaws. There's a lot of power in a few hands which could affect the lives of millions. Like when hyper-inflation happened in Germany, in Zimbabwe. Secondly, there are relatively large transactional costs.
Like if I send money to you, if I send money to you through NIFT, I have to pay 5.73 rupees every time. And if I buy something on Amazon.com in rupees, there's a certain conversion fee that happens to a average store, which works out to be quite a bit. Paper money is also fairly inefficient. It's prone to fraud.
It can be lost and things like that. And too much of it in Mukeshan money now. Yeah, correct. Pilos, matlars and all that.
See, that might not be something, the Mukeshan money thing is something that Bitcoin might not be able to solve. But there are many others. See, Bitcoin has no taxes. It doesn't have large transaction fees.
It can't be stolen. It can't be frozen. That sounds great. I mean, why aren't we all doing Bitcoin then?
See, there are a lot of disadvantages with Bitcoin. OK, but before we jump into advantages versus disadvantages, I think we should look at how it works. I think that's what we need to give a bottle of for. Let's take an example.
Now suppose how do you use Bitcoin? Do this? You need to download a wallet application, a Bitcoin wallet application, either on your mobile phone or on your computer. Now, once you do this, you are given what is called a public key, which is basically a function of your device address.
Now, suppose I have downloaded an app like the Bitcoin wallet, for example, on my phone. I first have to buy Bitcoin. Now, I can do that through any of these apps. And currently, the value of one Bitcoin is $446 as of today.
And that's approximately $30K. That's actually quite a lot. So imagine if screws were swimming in Bitcoin, it's a spool would be considerably smaller. In any case, I buy this Bitcoin and suppose I want to transfer half of it to you, right?
Point five Bitcoin, I want to transfer it to you. I get what is called now a private key for this transaction. So there's a public key and now there's a private key. And now the public and private key, like together, their powers combine like cap and planet and they combine to make what is called a signature.
So there's really a lot of... Yeah, and they're just scratching the surface. So there's a public key, there's a private key together, they come together during a transaction to make a signature. OK, and with this signature, your transaction has been virtually signed and it's added to a public ledger called the blockchain.
And the last ledger to create so much discussion online was Heath. Sorry, I know. Sorry. So everyone can see these transactions.
So if you go if you just Google and Bitcoin transactions, you'll find websites where there are thousands of them happening at the same time. Even though your name is not actually out there, they can't trace it back to you. These transactions are verified by a certain individual, so part of the network. And ten minutes later, you'll see the point five Bitcoin that I sent to you in your wallet.
What about the nice of these people? But I mean, why would they do it? Yeah, so they don't do it for free actually. And that's what the other side of Bitcoin comes in now, where the more complicated side of Bitcoin actually comes in.
If you keep it to the level which I've told you right now, that's all I need to know in order to use Bitcoin. Now the complicated side of Bitcoin, the other side of Bitcoin comes in. And this is what is called mining. Okay.
It costs a freaking lot of money in order to do that. Once. So what happens is I, so my point five Bitcoin transaction is called a transaction. A set of these transactions together is called a block.
Okay. What these miners do, these people who verify, they have to take this block, run it through a series of complicated computer programs in order for it to be verified. Once it's verified, they're rewarded with 25 Bitcoins. And if we keep the same value that I said a while back, that's equivalent of almost 7.5 lakh Indian rupees.
Wow. How do I sign up for this one? Actually, it's not actually that easy. There's a lot of computing power that's needed to actually mine in order to do this verification process.
I have to compute at the room. I have a laptop, a desktop, I have a one plus. We might actually need a little bit more than that. Yeah, a little more than that.
Let me explain. The verification process, which is called mining is so compared to that you need really, really high end equipment in order to do the verification fast before. It's actually comparative. So the quicker you are, the quicker you're able to verify the transaction, then hence you get the 25 Bitcoins as the reward.
Well, someone peeps you to it. It's gone. It's gone. It's gone.
It's gone. So one study actually showed that just in order to break even, okay, the Bitcoin value at that time was $5.97. You needed a capital expense of $700 million. Yeah, because they use very sophisticated computers and then the operation expenses is totally different all together, which is mainly electricity because you have all these high end computers sucking in a lot of juice and that's another $88 million.
Okay. That's $88 million of electricity and the problem is this is not a one time investment. You need to keep upgrading your capics. The computers you have to keep buying new ones all the time.
So at the end of it all, it's a very, very expensive process and more and more people are dropping out of it because they're unable to cope with the pressure and the investment involved. Like these kids studying for the IITs. Yeah. Yeah.
See, so fascinating. The production of Bitcoin is capped at 21 million. Okay. Like sometime in the future, 21, 40 or something like that.
So 21 million is the maximum number of Bitcoins that ever can be produced. Oh, okay. Yeah. Yeah.
So it's one of those asymptotically. Yeah. It's one of those asymptotically. Exactly.
Poise on distribution or something like that. So I don't understand these things. So it's production is actually being halved every year. So what happens is when a miner verifies a block, he gets 25 Bitcoins this year.
Last year he used to get 50. Next year he'll get a point five. And so on it get. So what happens is keeps getting harder and harder in order to make a Bitcoin hence mining each Bitcoin becomes more and more expensive.
So that's how the entire process actually happened. But if you listening, just worried about how to use Bitcoin, you obviously don't need to worry about that. Of course, if you want to make money out of Bitcoin, that's when you need to start running and save up a lot. So now why is Bitcoin not more widely used, any guesses?
The local's chival want to sort of accept payment in Bitcoin. Yeah. So that's one of the primary reasons. It's sort of chicken and egg situation because more vendors are going to come online only if more people start using Bitcoin.
More people start using Bitcoin only if they see most avenues suspended. And that's really sort of chicken and egg situation right now. See the other, there are many other reasons actually. Vollets can be lost.
Okay. Digital wallet, the Bitcoin wallets can actually be lost. If your heart is, or your phone gets corrupted, all the bitcoins that you're stored on it are lost forever. Yeah.
You can't back it up to the cloud and things like that. A man actually lost 7.5 million in Bitcoin when he accidentally threw out his heart disk drive. Wow. That was worth just some $25.25.
But he forgot about it, he threw it out and then news came that the Bitcoin is being done. And he went to the garbage here too. He already did get out. Yeah.
But you can't back it to the cloud. So the problem is Bitcoin wallets are dependent on a private key which is dependent on your system. Okay. Now some apps allow you to create a backup which you definitely should.
So that's one of the key problems with Bitcoin. The other problem with Bitcoin as you might have realized from the values that I've been giving out. Bitcoin values fluctuate widely like the quality of a Rangobanwarma movie. Right?
It's like in 2011, it was $10 and then it crashed to $1 and then it went to $600 last year. And right now it's like $4.5 ish. It's not exactly what you should invest in if you're a heart patient. Is there any buyer protection?
No, there isn't actually once the transaction is done, it's done. There is no reversing that there's no reversal or anything that can happen. And the other problem is just like the more economic ish in nature. You can use this to show off to economic friends because of the 21 million Bitcoin cap.
It's got deflation inherently built in. Correct. So it was earlier after. So if you're someone for example who bought a Bitcoin for $10 or $1 back in the day.
It's not going to crash back to those levels again. So it's a huge deterrent for anybody to buy the currency later on, especially when it's convertible back to dollars. Right. Bitcoin might make very little sense apart from some novelty value really and punting on long term valuation, which is which is which is unlikely to happen beyond a point.
And the complication. Yeah, I think that's the biggest disadvantage. It's just freaking complicated. I mean, just think at the end of listening to this podcast and all these disadvantages, most people my guess is won't mind the RBI and the way they're handling the rupee.
They say, OK, if the alternative is this, then I might as well just pay RBI that 5.7 bucks every time I want to run a transaction. This is just think of it as a convenience fee. The way I take book my show or clear to it was something like all this is just way too complicated. But you know, but as a concept, I think it's nice.
I want to decentralize. I want the internet to own the currency and things like that. But I don't think we need it. Really?
It has a shady reputation to the problem with Bitcoin because whenever it comes in the news, it's always for the wrong reasons. If I want to draw an index of shadiness, Bitcoin would come a little above superteroy and a little below to share a post choice of movies. OK. It is a payment system for the dark underbelly of the internet.
It's still code website that sold drugs online, which led to a huge, you know, human cry. And recently, recently, a hospitals computer networks in the US was held hostage by hackers who demanded the ransom in Bitcoin. That's just terrible. Yeah.
So with headlines like this, I mean, it's not a surprise that it's public perception. It's an exactly. Of course, you know, it's not a fault of the technology. Yeah.
Yeah. It's a fault of the people. Yeah. Yeah.
That's why saying, you know, guns by themselves aren't concerned people do. But see, some perceptions are still going to stick. But despite that, some large retailers have started accepting Bitcoin as a mode of payment, including surprising enough Microsoft, Dell, a couple of online electronic retailers in the US called Newegg and Tiger Direct, some airlines also, and recently a Dutch outlet of booger being started accepting them in interesting enough. So I look to see if any Indian companies accept Bitcoin, obviously much, much fewer, mostly in the financial space.
And if anyone's interested, you can actually check out a list which is on this website called unocoin.com. That's unocoin.com. Interestingly enough, several websites actually allow in both the Indian and the US and several other countries allow you to purchase gift cards for sites like Amazon and Flipkarts. So there's now say Amazon started accepting Bitcoin, which is actually not true.
All the none is there is another website that allows you to buy gift cards with Bitcoin, which you can then use on Amazon. And by the way, another thing, after Visa and MasterCard shut down donations to Wikileaks, people were still able to donate using Bitcoin. So I'm guessing you won't be rushing to purchase Bitcoin any time soon? No, it's too complicated.
And while conceptually think it's a good idea, I don't see the current money system is broken enough. You know, that's my fundamental thing. I don't think the way money operates right now is broken. Yeah, the way people handle it, sure, that's a little screwed up.
But I don't think the way money is handled right now is broken enough to warrant an entire overhaul. Yeah, I mean, you had Germanians in Bobby. But apart from that, the world isn't really facing a crisis in terms of managing money. Centralization, I think, has more advantages than the Bitcoin website.
I mean, the Bitcoin website, if you go there, say, oh, centralization is like... Absolutely criminal, and it has to go. It's a very outdated... I really don't think so.
I think majority of the people in the world would agree with me on that. So thanks so much for that lowdown of Bitcoin, Chuck. We'll be right back after this late to break. See you on the other side.
Yeah. You can listen to Cyrus says from my apps on iOS Android or our website, Cyrus says, Dot in. You can also listen to services like iTunes, Stitcher, Tune, SoundCloud or your favorite podcasting software. It's Cyrus says, Dot in.
So back to our favorite section, the itemologies. This is a famous, famous, anyway. After Bitcoin, anything is really good. Bitcoin.
Yeah. Okay. So what we're going to do in this section is both of us are going to take one word and one place every week and we are going to basically get to the root of them in the title, the title section. So, okay.
What's your word for today? My word for today is one of my favorite words, on a matter of P. Yeah. Yeah.
I just love the way it sounds. It's a fantastic word to impress the ladies with that. Okay. So make a song on that matter.
It has a nice rhythm. Yeah. It has a nice rhythm. Yeah.
And that's exactly... It's sort of like what it means. So on a matter of P. Yeah.
It's actually a word resembling the source. Like now, Oink, Pan and all that. Right. For such a cool word though, it's got a very boring backstory.
It's basically Greek, the same word, on a matter of P. It's Greek for making or creating names. Yeah. It's often used in comic books and of course, not in a lot of jingles rely on, you know, a tinglinging, for example, I guess, it's sort of on a matter of P.
Yeah. There's actually a DC Comics character called on a matter of P. Who just spoke in this way. Yeah.
That's a pretty cool piece of trivia. So yeah. That's my word for the week. What's yours?
Well, you know, I was... This happened recently and I added a lot of Alice in Wonderland when I was a kid. So a lot of that stuff stuck in my head and we were discussing something and Mrs. Mrs.
said something like long time or something like that. And I remember this poem called Jabawaki and the words go long time. The mangsome four he thought sought and something something something. And in the end, he says the old man is telling his son.
It's a nonsense poem. Okay. He says and has those slain the Jabawak come to my arms, my beamish boy. Oh, Fredjous day, Calu, Kelly.
He chartered in his joy. So chartered was the word. It's a combination of chuckled and snorted. So you know, I've done it a lot of times.
You don't laugh, but then you go snarking. Yeah. So it really sounds like the name of a central subo. Yeah.
So the Jabawaki is a terrific poem. So just Google it, read the poem. It's a lot of nonsense and definitely worth checking a lot of words like this, including chartered. Okay.
And now we'll move to the two places. Do you want to start this time? Well, my place for today is New York, which was formerly known. You're going to be surprised.
It used to be called New Amsterdam. And before that, I don't know. It was called whatever the Native Americans called it. And then for a while, so actually the Dutch set up a trading post there and they caught it new Amsterdam and the British came and booted them out and they decided to name it after the Duke of York, so they called it New York.
And then the Dutch came right back and they decided to call it New Orange. They said, you're kidding me man, get the hell out of here. And they started calling it New York back and then to touch by that time, realized that New Orange was too shitty and aim to call it. I said, okay, let's go with New York.
So that's the origin. So does this have anything to do with the Big Apple oranges? I don't know. I don't know why it's called Big Apple.
I don't know why it's called Big Apple. I was not in the same. I just wanted to use that somewhere. Okay, so my place for today is Canada, for no reason.
So the origin of the world, Kolkata is long back. There were three villages where the current city is one of which was just called Kolkata. Okay. And that and hence that became Kolkata and it was emphasized to Kolkata.
Now Kolkata itself has many possible origins. There's a Bengali version for Field of the Goddess Kali. It's the Bengali version for Flatland because Kolkata is flat. I guess.
Or it's also there used to be a lot of quick-line that was made in that area. So which was called Kohli Chun and Kata called Koi. It was the Bengali called Koi. So Kohli Chun Kata.
So maybe a mixture of that and of course, he didn't. One more actually I've heard is this Brit guy goes and he sees a guy go with a load of fiber on his head. And this guy asks him, oh, he chugged a kunang kaha. And that guy thinks he don't know what else this guy is talking about.
So he thinks when you look at this, he says, call Kata. So that's it. That's it. Well, I don't know if he goes.
So that's a Dutch district or state or whatever that thing is called. It's called Z-E-E-L-A-N-D. And that was what makes New Zealand new. That is the original Zealand.
Because whenever there's a new there needs to be a whole one. Cool. So that's it for the roots. We'll be back after a very short break for...
And I'm going to tell you about a nice article I recently. Stay tuned. I'll be back. I'll be back.
I'll be back. I'll be back. I'll be back. I'll be back.
I'll be back. So you might have guessed it's basically using the internet for various medical purposes. You know, it could actually transform the medical industry. For example, hospitals are increasingly putting data into the cloud rather than storing it on the computer.
They find this a lot cheaper and more efficient. And multiple people are also able to access it. I remember last time I got an x-ray, he actually didn't take a printout. He actually just stored it on the local drive and accessed.
I thought that was less printout so possibly. They're also using technology like RFID to manage patient flow, doctors and general supplies. There are technologies like medical patches. I think Laudial had in the CS this year, they actually introduced a little patch that you put onto your skin that will tell you whether you're getting sunburned or not.
So these are interesting use of technologies. This medical company called NoWatt is they actually created this contact lens for diabetes diabetics. Basically this is a contact lens. And it's basically glucose detecting.
So you don't have to pick yourself every time the data transfer directly to your phone because it's a sciatic. But is it working? Because one thing I know, because this is in correction with another thing that I was working on for some time, they really haven't been able to figure out reliable way of getting a blood sugar major without piercing the skin. Like they said, they're just working on it so it's probably not...
Evolutionary. So basically technologies like this from a patient point of view, they get timely updates. And not only that, but because of this huge proliferation of health apps like calorie counters, running apps like Nike+, are used to have a first cycling. All these apps just basically keep people more informed and healthy.
Basically people know more about themselves than before. So it doesn't come as a total shock when they go to the doctor. Or at least they know when to go to the doctor, don't wait until it's too late. This is one of the reasons why longevity has increased from the idea of late.
Is that the diagnostic abilities of the medical field has increased to the... So if the internet comes and blinks and plays an inherent part in medicine, it's not going to grow up. There's also other things like telemedicine, subscription based healthcare. Not as interesting.
You pay a fixed fee every month and then you have doctors on call. I remember there was a service in India, I think it was called Doctor on Call, which was a pretty good idea. I don't see it's not around anymore, but I thought that was pretty interesting. So this is an overall, it's a pretty nice article and I'll put up the link for this in the description of this episode.
And we are at the end of this episode. Good for it. I learned a lot of things myself. Thank you very much.
No problem. I hope you guys did too. And yes, stick around. We'll be back next week with something else, some other confounding topic which we can...
Hopefully, the same level of complexity or more as Bitcoin. Alright, bye. Bye. Have a good week.