The future of money | Neha Narula

Prevoditelj: Sanda L Recezent: Tilen Pigac - EFZG

I want to tell you about the future of money.

Želim vam govoriti o budućnosti novca.

Let's start with a story about this culture

Započnimo pričom o kulturi,

koja je živjela u Mikroneziji početkom 20. stoljeća, po imenu Yap.

that lived in Micronesia in the early 1900s, called the Yap.

Now, I want to tell you about the Yap

Želim vam govoriti o njima,

jer je njihov oblik novca vrlo zanimljiv.

because their form of money is really interesting.

They use these limestone discs called Rai stones.

Koriste vapnenačke diskove koji se zovu kamenje Rai.

Now, the Yap don't actually move these Rai stones around

Yapi zapravo ne nose to kamenje Rai uokolo,

or exchange them the way we do with our coins,

niti ih razmjenjuju na način na koji mi koristimo novčiće,

because Rai stones can get to be pretty massive.

jer kamenje Rai može biti prilično krupno.

The largest is about four tons and 12 feet across.

Najveći ima oko četiri tone i promjer oko 3,6 metara.

Tako Yapi samo prate tko posjeduje koji dio nekog kamena.

So the Yap just keep track of who owns part of what stone.

Postoji priča o mornarima,

There's a story about these sailors

koji su prevozili kamen preko oceana,

that were transporting a stone across the ocean

when they ran into some trouble and the stone actually fell in.

kada su upali u neku nevolju i kamen je pao u more.

The sailors got back to the main island

Mornari su se vratili na glavni otok

and they told everyone what had happened.

i rekli svima što se dogodilo.

And everyone decided that, actually, yes,

Svi su odlučili da zapravo, da,

the sailors had the stone and -- why not? -- it still counted.

mornari su imali kamen i, zašto ne? On još vrijedi.

Even though it was at the bottom of the ocean,

Iako je bio na dnu oceana,

it was still part of the Yap economy.

i dalje je bio dio Yap ekonomije.

You might think that this was just a small culture

Možda mislite da je to bila samo mala kultura

a hundred years ago.

prije sto godina.

Međutim, ovakve stvari se dešavaju i u zapadnom svijetu,

But things like this happen in the Western world as well,

and the Yap actually still use a form of these stones.

a Yapi, zapravo, i dalje koriste neki oblik ovog kamenja.

In 1932, the Bank of France asked the United States

1932. Francuska banka je zatražila od SAD-a

to convert their holdings from dollars into gold.

da pretvore njihovu imovinu iz dolara u zlato.

But it was too inconvenient to think about actually shipping

Međutim, bilo je previše nezgodno da bi pomišljali na prijevoz

svog tog zlata u Europu.

all of that gold over to Europe.

Umjesto toga, netko je otišao tamo gdje je zlato bilo pohranjeno

So instead, someone went to where that gold was being stored

and they just labeled it as belonging to France now.

i samo su ga obilježili da ono sada pripada Francuskoj.

Svi su se složili da je Francuska vlasnik tog zlata.

And everyone agreed that France owned the gold.

It's just like those Rai stones.

Baš kao i s kamenjem Rai.

The point I want to make with these two examples

Pouka koju želim naglasiti iz ova dva primjera

is that there's nothing inherently valuable

je da ne postoji zadana vrijednost

about a dollar or a stone or a coin.

vezana za dolar, kamen ili novčić.

Jedini razlog što te stvari imaju ikakvu vrijednost,

The only reason these things have any value

is because we've all decided they should.

je zato što smo svi odlučili da trebaju imati.

And because we've decided that,

I zato što smo to odlučili,

they do.

tako i jest.

Money is about the exchanges and the transactions

Novac se svodi na razmjene i transakcije

that we have with each other.

koje međusobno obavljamo.

Novac nije ništa objektivno.

Money isn't anything objective.

It's about a collective story that we tell each other about value.

Radi se o kolektivnoj priči o vrijednosti koju pričamo jedni drugima.

Kolektivna fikcija.

A collective fiction.

A to je vrlo moćan koncept.

And that's a really powerful concept.

U protekla dva desetljeća

In the past two decades,

we've begun to use digital money.

počeli smo koristiti digitalni novac.

So I get paid via direct deposit,

Tako ja primam novac putem izravnog depozita,

I pay my rent via bank transfer,

plaćam najam preko bankovnog transfera.

Plaćam poreze elektronski.

I pay my taxes online.

I svaki mjesec,

And every month,

a small amount of money is deducted from my paycheck

mali iznos novca odbija se od moje plaće

and invested in mutual funds in my retirement account.

i ulaže se u investicijske fondove za moju mirovinu.

Sve te transakcije

All of these interactions

are literally just changing 1's and 0's on computers.

doslovno su izmjenjivanje jedinica i nula na računalima.

There's not even anything physical, like a stone or a coin.

Ne postoji čak ni nešto fizičko, poput kamena ili novčića.

Digital money makes it so that I can pay someone around the world

Digitalni novac omogućuje mi plaćanje nekome bilo gdje u svijetu,

in seconds.

u svega nekoliko sekundi.

Now when this works,

Kada ovo funkcionira,

it's because there are large institutions underwriting every 1 or 0

to je stoga što postoje velike institucije koje osiguravaju svaku jedinicu ili nulu

that changes on a computer.

koja se promijeni na računalu.

And when it doesn't,

A kada ne funkcionira,

it's often the fault of those large institutions.

to je često krivica tih velikih institucija.

Or at least, it's up to them to fix the problem.

Ili je, u najmanju ruku, na njima da riješe problem.

And a lot of times, they don't.

A mnogo puta ga ne riješe.

There's a lot of friction in the system.

Mnogo je otpora u sustavu.

How long did it take the US credit card companies

Koliko je dugo trebalo kartičarskim kućama SAD-a

to implement chip and pin?

da sprovedu čipove i PIN-ove?

Half my credit cards still don't work in Europe.

Polovina mojih kreditnih kartica i dalje ne vrijedi u Europi.

That's friction.

To je otpor.

Transferring money across borders and across currencies

Prijenos novca preko granica i u različitim valutama

is really expensive:

zaista je skupo:

friction.

otpor.

An entrepreneur in India can set up an online business in minutes,

Poduzetnica u Indiji može pokrenuti posao elektronski u nekoliko minuta,

but it's hard for her to get loans and to get paid:

ali joj je teško dobiti kredit i primiti uplate:

friction.

otpor.

Our access to digital money and our ability to freely transact

Naš pristup digitalnom novcu i sposobnost slobodnog vršenja transakcija

is being held captive by these gatekeepers.

ovi čuvari drže u zatočeništvu.

And there's a lot of impediments in the system slowing things down.

Postoji mnogo prepreka u sustavu koje usporavaju stvari.

That's because digital money isn't really mine,

To je zato što digitalni novac nije zaista moj,

to su unosi u baze podataka koje pripadaju mojoj banci,

it's entries in databases that belong to my bank,

my credit card company or my investment firm.

mojoj kartičarskoj ili mojoj investicijskoj kući.

And these companies have the right to say "no."

A te kompanije imaju pravo odbiti.

If I'm a PayPal merchant

Ako trgujem putem PayPal-a,

and PayPal wrongly flags me for fraud,

i PayPal me greškom obilježi da sam počinila pronevjeru,

to je to.

that's it.

My account gets frozen, and I can't get paid.

Moj račun postaje zamrznut i ne mogu primati uplate.

These institutions are standing in the way of innovation.

Te institucije stoje inovaciji na putu.

How many of you use Facebook photos, Google Photos,

Koliko vas koristi slike s Facebooka, Googlea,

Instagram?

Instagrama?

My photos are everywhere.

Moje slike su posvuda.

They are on my phone, they're on my laptop,

Ima ih na mojem telefonu, laptopu,

they're on my old phone, they're in Dropbox.

na mojem starom telefonu, u Dropboxu.

They're on all these different websites and services.

Ima ih na svim tim različitim stranicama i uslugama.

And most of these services don't work together.

I većina tih usluga ne surađuje međusobno.

They don't inter-operate.

Ne rade jedna s drugom.

And as a result,

A kao rezultat,

moja zbirka fotografija je u rasulu.

my photo library is a mess.

The same thing happens

Isto se dešava

when institutions control the money supply.

kada institucije nadziru opskrbu novcem.

A lot of these services don't inter-operate,

Dosta ovih usluga ne surađuje međusobno

and as a result, this blocks what we can do with payment.

i kao rezultat, to blokira ono što možemo učiniti plaćanjem.

And it makes transaction costs go up.

A to povećava troškove transakcije.

So far, we've been through two phases of money.

Do sada smo prošli kroz dvije faze novca.

In an analog world, we had to deal with these physical objects,

U analognom svijetu, morali smo se baviti ovim fizičkim predmetima

and money moved at a certain speed -- the speed of humans.

i novac se kretao određenom brzinom -- ljudskom brzinom.

In a digital world, money can reach much farther and is much faster,

U digitalnom svijetu, novac stiže dalje i brži je,

but we're at the mercy of these gatekeeper institutions.

ali smo u milosti tih institucija koje nadziru pristup.

Money only moves at the speed of banks.

Novac se pokreće samo brzinom banaka.

Blizu smo ulaska u novu fazu novca.

We're about to enter a new phase of money.

Budućnost novca se može programirati.

The future of money is programmable.

Kada kombiniramo softver i valutu,

When we combine software and currency,

money becomes more than just a static unit of value,

novac postaje više od samo statične jedinice vrijednosti

and we don't have to rely on institutions for security.

te se ne moramo oslanjati na institucije radi sigurnosti.

U takvom svijetu,

In a programmable world,

we remove humans and institutions from the loop.

isključuju se ljudi i institucije.

And when this happens,

A kada se to dogodi,

we won't even feel like we're transacting anymore.

nećemo više čak ni imati osjećaj da obavljamo transakcije.

Money will be directed by software,

Novcem će upravljati softver

and it will just safely and securely flow.

i samo će sigurno protjecati.

Cryptocurrencies are the first step of this evolution.

Kriptovalute su prvi korak te evolucije.

Cryptocurrencies are digital money

Kriptovalute su digitalni novac

that isn't run by any government or bank.

kojim ne upravlja nikakva vlada niti banka.

It's money designed to work in a world without intermediaries.

To je novac koji je predviđen da funkcionira u svijetu bez posrednika.

Bitcoin je najprisutnija kriptovaluta,

Bitcoin is the most ubiquitous cryptocurrency,

but there are hundreds of them.

ali postoje njih stotine.

There's Ethereum, Litecoin, Stellar, Dogecoin,

Postoje Ethereum, Litecoin, Stellar, Dogecoin,

and those are just a few of the more popular ones.

a to je samo nekoliko najpopularnijih.

And these things are real money.

I to je stvaran novac.

The sushi restaurant down my street

Sushi restoran u mojoj ulici

takes Bitcoin.

prima Bitcoin.

I have an app on my phone that I can use to buy sashimi.

Imam aplikaciju na telefonu preko koje mogu kupiti sashimi.

No, to nije samo za male transakcije.

But it's not just for small transactions.

In March, there was a transaction that moved around 100,000 bitcoins.

U ožujku je izvršena transakcija u iznosu od oko 100.000 bitcoina.

That's the equivalent of 40 million US dollars.

To odgovara vrijednosti od 40 milijuna američkih dolara.

Cryptocurrencies are based on a special field of mathematics

Kriptovalute se temelje na posebnom polju matematike,

koje se zove kriptografija.

called cryptography.

Kriptografija je proučavanje načina kako osigurati komunikaciju

Cryptography is the study of how to secure communication,

and it's about two really important things:

i odnosi se na dvije, zaista važne stvari:

masking information so it can be hidden in plain sight,

maskiranje informacija, tako da se mogu sakriti na vidnom mjestu

i provjeru djelića izvora informacije.

and verifying a piece of information's source.

Kriptografija podržava toliko mnogo sustava oko nas.

Cryptography underpins so many of the systems around us.

And it's so powerful that at times

Toliko je moćna da ju je u nekim trenucima

the US government has actually classified it as a weapon.

vlada SAD-a čak klasificirala kao oružje.

During World War II, breaking cryptosystems like Enigma

Za vrijeme Drugog svjetskog rata, provaljivanje kriptosistema poput Enigme

bilo je ključno za dekodiranje neprijateljske razmjene

was critical to decoding enemy transmissions

and turning the tide of the war.

i preokretanje tijeka rata.

Danas, svatko tko koristi neki pretraživač,

Today, anyone with a modern web browser is running

pokreće prilično složeni kriptosustav.

a pretty sophisticated cryptosystem.

To je ono što koristimo kako bismo osigurali naše interakcije na internetu.

It's what we use to secure our interactions on the Internet.

To je ono zbog čega sigurno unosimo svoje lozinke

It's what makes it safe for us to type our passwords in

and to send financial information to websites.

i šaljemo financijske podatke.

So what the banks used to give us --

I tako ono što su nam banke nekada davale,

pouzdan digitalni prijenos novca,

trustworthy digital money transfer --

we can now get with a clever application of cryptography.

sada možemo dobiti pametnom primjenom kriptografije.

And this means that we don't have to rely on the banks anymore

To znači da se više ne moramo oslanjati na banke

kako bismo osigurali transakcije.

to secure our transactions.

We can do it ourselves.

Možemo to i sami.

Bitcoin is based on the very same idea that the Yap used,

Bitcoin se temelji na istoj ideji koju je koristila kultura Yap,

this collective global knowledge of transfers.

na kolektivnom globalnom znanju o transferima.

In Bitcoin, I spend by transferring Bitcoin,

Kod Bitcoina, trošim tako što prebacujem Bitcoin,

and I get paid when someone transfers Bitcoin to me.

a primam uplatu kada netko meni prebaci Bitcoin.

Imagine that we had this magic paper.

Zamislite da imamo čarobni papir.

So the way that this paper works is I can give you a sheet of it

Taj papir funkcionira na način da vam dam jedan list

and if you write something on it,

i ako napišete nešto na njemu,

to će se pojaviti i na mojem papiru.

it will magically appear on my piece as well.

Let's say we just give everyone this paper

Recimo da svima damo takav papir

and everyone writes down the transfers that they're doing

i svatko zapiše prijenose koje izvrši

in the Bitcoin system.

u sustavu Bitcoina.

All of these transfers get copied around to everyone else's pieces of paper.

Svi ti prijenosi kopiraju se i na dio papira svih ostalih.

And I can look at mine

I ako pogledam svoj,

and I'll have a list of all of the transfers that are happening

imat ću popis svih prijenosa koji se dešavaju

in the entire Bitcoin economy.

u cjelokupnoj ekonomiji Bitcoina.

This is actually what's happening with the Bitcoin blockchain,

To je, zapravo, ono što se dešava s blockchainom Bitcoina,

which is a list of all of the transactions in Bitcoin.

koji je popis svih transakcija Bitcoina.

Except, it's not done through paper.

Samo što se ne vrši preko papira.

Provodi se putem računalnog kôda,

It's done through computer code,

running on thousands of networked computers

na tisućama umreženih računala

around the world.

diljem svijeta.

All of these computers are collectively confirming

Sva ta računala kolektivno potvrđuju

tko posjeduje koji Bitcoin.

who owns what Bitcoin.

So the Bitcoin blockchain is core to how Bitcoin works.

Tako je blockchain Bitcoina sama bit onoga kako Bitcoin funkcionira.

But where do bitcoins actually come from?

No, odakle Bitcoini, zapravo, potječu?

Well, the code is designed to create new Bitcoin

Pa, kôd je osmišljen tako da stvara novi Bitcoin

according to a schedule.

prema određenom rasporedu.

And the way that it works is that to get those Bitcoin,

A to radi na način da, kako bih dobila te Bitcoine,

moram riješiti zagonetku -- nasumičnu kriptografsku zagonetku.

I have to solve a puzzle -- a random cryptographic puzzle.

Zamislite da imamo 15 kockica

Imagine that we had 15 dice,

and we were throwing these dice over and over again.

i da ih stalno iznova bacamo.

Whenever the dice come up all sixes,

Svaki put kada na svim kockicama dobijemo šestice,

kažemo da smo pobijedili.

we say that we win.

To je vrlo slično onome što ova računala zapravo rade.

This is very close to what these computers are all actually doing.

They're trying over and over again to land on the right number.

Stalno iznova pokušavaju doći do pravog broja.

And when they do,

I kada uspiju,

kažemo da su riješili zagonetku.

we say that they've solved the puzzle.

The computer that solves the puzzle

Računalo koje riješi zagonetku,

objavljuje svoje rješenje ostatku mreže

publishes its solution to the rest of the network

and collects its reward: new bitcoins.

i prikuplja svoju nagradu, nove Bitcoine.

And in the act of solving this puzzle,

Kroz rješavanje ove zagonetke,

ta računala, zapravo, pomažu osigurati blockchain Bitcoina

these computers are actually helping to secure the Bitcoin blockchain

te dodavati popis transakcija.

and add to the list of transactions.

There are actually people all over the world running this software,

Postoje ljudi diljem svijeta koji upravljaju ovim softverom,

and we call them Bitcoin miners.

i zovemo ih rudarima Bitcoina.

Anyone can become a Bitcoin miner.

Svatko može postati rudar Bitcoina.

You can go download the software right now

Možete sada skinuti softver

and run it in your computer and try to collect some bitcoins.

pokrenuti ga na računalu i pokušati sakupiti Bitcoine.

I can't say that I would recommend it,

Ne mogu reći da bih to preporučila,

jer trenutno je zagonetka toliko teška, a mreža tako jaka,

because right now, the puzzle is so hard and the network is so powerful,

that if I tried to mine Bitcoin on my laptop,

da ako bih pokušala tražiti Bitcoine sa svog laptopa,

I probably wouldn't see any for about two million years.

vjerojatno u nekih dva milijuna godina ne bih našla niti jedan.

The miners, professional miners, use this special hardware

Profesionalni rudari koriste poseban hardver,

that's designed to solve the puzzle really fast.

koji je osmišljen da vrlo brzo riješi zagonetku.

Now, the Bitcoin network and all of this special hardware,

Za mrežu Bitcoina i sav taj posebni hardver

there are estimates that the amount of energy it uses

postoje procjene da koriste količinu energije

is equivalent to that of a small country.

jednake energiji koju troši neka mala država.

So, the first set of cryptocurrencies

Dakle, prva grupa kriptovaluta

are a little bit slow and a little bit cumbersome.

malo je spora i nezgrapna.

But the next generation is going to be so much better and so much faster.

No, sljedeća generacija će biti mnogo bolja i brža.

Cryptocurrencies are the first step

Kriptovalute su prvi korak

prema svijetu globalnog novca koji se može programirati.

to a world with a global programmable money.

And in a world with programmable money,

A u svijetu s novcem koji se može programirati,

I can pay anyone else securely

mogu bilo kome sigurno platiti,

without having to sign up or ask permission,

bez da se moram prijaviti, ili tražiti dopuštenje,

or do a conversion or worry about my money getting stuck.

raditi konverziju ili brinuti da će mi novac negdje zaglaviti.

And I can send money around the world.

Mogu i slati novac širom svijeta.

This is a really amazing thing.

To je zaista nevjerojatna stvar.

It's the idea of permission-less innovation.

To je ideja o inovaciji bez davanja dopuštenja.

The Internet caused an explosion of innovation,

Internet je doveo do naglog rasta inovacija,

because it was built upon an open architecture.

jer je izgrađen na otvorenoj arhitekturi.

And just like the Internet changed the way we communicate,

Baš kao što je internet promijenio naš način komunikacije,

novac koji se programira promijenit će način na koji plaćamo,

programmable money is going to change the way we pay,

allocate and decide on value.

doznačavamo i odlučujemo o vrijednosti.

So what kind of world does programmable money create?

Kakav svijet stvara novac koji se može programirati?

Imagine a world where I can rent out my healthcare data

Zamislite svijet u kojem mogu iznajmiti svoje zdravstvene podatke

to a pharmaceutical company.

farmaceutskoj kompaniji.

Mogli bi pokrenuti široku analizu podataka

They can run large-scale data analysis

and provide me with a cryptographic proof

i pružiti mi kriptografski dokaz,

that shows they're only using my data in a way that we agreed.

koji pokazuje da koriste moje podatke na način na koji smo se dogovorili.

A oni mi mogu platiti za ono što otkriju.

And they can pay me for what they find out.

Instead of signing up for streaming services

Umjesto prijavljivanja za usluge streaminga

and getting a cable bill,

i dobivanja računa za TV,

what if my television analyzed my watching habits

šta ako bi moj TV prijemnik analizirao moje navike gledanja

and recommended well-priced content that fit within my budget

i preporučio sadržaj po dobroj cijeni, koji najbolje odgovara mom budžetu,

that I would enjoy?

a u kome bih uživala?

Imagine an Internet without ads,

Zamislite internet bez oglasa,

because instead of paying with our attention when we view content,

jer umjesto da platimo svojom pažnjom kada gledamo sadržaj,

we just pay.

jednostavno samo platimo.

Interestingly, things like micro-payments

Zanimljivo, stvari poput mikroplaćanja

zapravo će promijeniti način na koji sigurnost funkcionira u svijetu,

are actually going to change the way security works in our world,

because once we're better able to allocate value,

jer jednom kada budemo bolji u raspodjeli vrijednosti,

ljudi će koristiti svoj novac i energiju

people will use their money and their energies

za konstruktivnije stvari.

for more constructive things.

If it cost a fraction of a cent to send an email,

Kada bi slanje e-maila stajalo djelić centa,

would we still have spam?

bismo li i dalje imali neželjenu poštu?

We're not at this world yet,

Nismo još u tom svijetu,

but it's coming.

ali on dolazi.

Right now, it's like we're in a world that is seeing the first automobile.

Trenutno, kao da smo u svijetu koji vidi prvi automobil.

The first cryptocurrency, like the first car,

Prva kriptovaluta je, kao i prvi auto,

is slow and hard to understand and hard to use.

spora, teško shvatljiva i teška za korištenje.

Digitalni novac, kao konj i kočija,

Digital money, like the horse and carriage,

works pretty well,

rade prilično dobro,

and the whole world economy is built on it.

i cjelokupna svjetska ekonomija je izgrađena na njemu.

If you were the first person on your block

Ako biste bili prva osoba u svom kvartu,

to get a car with an internal combustion engine,

koja je nabavila auto s motorom na unutarnje sagorijevanje,

your neighbors would probably think you were crazy:

vaši susjedi bi vjerojatno pomislili da ste ludi:

"Why would you want this large, clunky machine

"Zašto bi poželio ovako veliku i nezgrapnu mašinu,

that breaks down all the time, that lights on fire,

koja se stalno kvari i pali se,

and is still slower than a horse?"

a i dalje je sporija od konja?"

But we all know how that story turns out.

No, svi znamo kako ta priča završava.

We're entering a new era of programmable money.

Ulazimo u novo doba novca koji se programira.

To je veoma uzbudljivo, ali i pomalo zastrašujuće.

And it's very exciting, but it's also a little bit scary.

Cryptocurrencies can be used for illegal transactions,

Kriptovalute se mogu koristiti za nezakonite transakcije,

just like cash is used for crime in the world today.

baš kao što se gotovina koristi za kriminal u današnjem svijetu.

When all of our transactions are online,

Kada su sve naše transakcije elektronske,

what does that mean for surveillance -- who can see what we do?

šta to znači za nadzor -- tko može vidjeti što mi radimo?

Tko je u prednosti u ovom novom svijetu, a tko nije?

Who's advantaged in this new world and who isn't?

Will I have to start to pay for things that I didn't have to pay for before?

Hoću li morati početi plaćati nešto što prije nisam morala?

Will we all become slaves to algorithms and utility functions?

Hoćemo li svi postati robovi algoritama i funkcija korisnosti?

Sa svakom novom tehnologijom dolaze i kompromisi.

All new technology comes with trade-offs.

Internet nam je donio mnogo načina za gubljenje vremena.

The Internet brought us a lot of ways to waste time.

But it also greatly increased productivity.

No, isto tako je i jako povećao produktivnost.

Mobile phones are annoying

Mobiteli su iritantni,

because they make me feel like I have to stay connected to work

jer zbog njih osjećam kao da moram ostati vezana za posao

cijelo vrijeme.

all the time.

But they also help me stay connected to friends and family.

Ali, pomažu mi i da ostanem povezana s prijateljima i obitelji.

The new sharing economy is going to eliminate some jobs.

Zbog nove ekonomije dijeljenja nestat će neki poslovi.

No, stvorit će i nove, fleksibilne oblike zaposlenja.

But it's also going to create new, flexible forms of employment.

With programmable money,

Pomoću ovakvog novca koji se programira,

we decouple the need for large, trusted institutions

razdvajamo potrebu za velikim, pouzdanim institucijama

from the architecture of the network.

od arhitekture mreže.

And this pushes innovation in money out to the edges, where it belongs.

A to tjera inovacije novca do ruba, gdje i pripada.

Programmable money democratizes money.

Novac koji se može programirati demokratizira novac.

And because of this, things are going to change and unfold

I zbog toga će se stvari promijeniti i razvijati,

in ways that we can't even predict.

na načine koje ne možemo ni predvidjeti.

Thank you.

Hvala vam.

(Applause)

(Pljesak)