Thank you for that introduction. So, yes, I'm going to enlighten you a little bit about modelling lung structure and function. This is going to be a very quick journey through some of my group's research, a journey from basic science discovery through applied through to clinical research, and back again. And it's also a multidisciplinary journey and a lot of international collaborations. So, first, the first thing in this title, Modelling Lung Structure. So, we start with a can-wee question. So, can we use mathematical algorithms to simulate the anatomical structure of the lungs? So, the airways, the blood vessels, the lung surface topology? The answer is yes, fortunately. So, what you see here is a mathematical model of one human conducting airway tree-generated using an individual's medical imaging, so computed tomography. We use these tree-creating algorithms, volume-filling branching algorithms to create the tree geometry. Now, why does that end up being important? Well, we know that there are significant differences between species in terms of this branching geometry. But if you are thinking about drug discovery, drug development, trials, initially animal trials, if you are testing your drug dispersion in a very different geometry to what you are hoping it's going to end up in, which is human, then you can end up with results that don't get translated well to human physiology. That's just one of the purposes. Once we have structure, we then want to think about function. Now, in the lung, as in any biological organ structure and function are intimately related to each other, when we have lung disease, we are typically getting a change to structure which affects function. So, we would like to understand how these things are related to each other and how we can exploit understanding of structure-function interactions to come up with better methods for diagnosis and for treatment of lung disease. So, we've developed methods to simulate how the lung tissue deforms under gravity and then linking that to simulations of ventilation distribution in the lung. So, when you breathe in, the air doesn't go uniformly everywhere in your lung. It depends on your posture. So, with your upright lying on your back, lying on your stomach, the air distribution is different and as you age, which I'll touch on later, there are further significant differences. So, we've developed models that go from the very complicated through to more simplistic methods that we can use sort of at the bedside, rapid methods to simulate ventilation distribution. Along with that, we also need to understand where the blood goes in the lungs. So, you don't get gas exchange if you don't bring air into close contact with blood. So, we have developed models. So, these are one-of-a-kind models that simulate from the right ventricle through the entire pulmonary circulation, including the recruitable capillary beds, and back again to the left atrium. So, these models include all of the significant mechanisms that affect the characteristic distribution of blood in the lung. So, again, affected by gravity, affected by structure, affected by the recruitment of these capillaries. You don't always have blood flowing through all of your capillaries. So, once we put these things together, ventilation distribution and perfusion distribution, we can then simulate gas exchange. So, this is occurring at approximately 32,000 little individual gas exchange units in your lung, and we simulate that at that level of detail. The variability that we predict and that we know is present, anatomically or physiologically, sorry, is really important. The variability that's present at baseline and then when we start to overlay additional ageing or pathology. So, let's look at just one way in which we've used this. So, this work, I should acknowledge Alice Clark, who was a post-doc with me on an HRC grant a few years ago. So, this is using our models, so now we have this ability to simulate the tissue deformation, ventilation distribution, blood distribution and gas exchange throughout the lung. This means we can then start to investigate clinically relevant problems. In this case, acute pulmonary embolism or blood clots in the lung. So, clots that are preventing blood from getting to parts of the lung tissue and therefore preventing gas exchange occurring in those bits of tissue. So, we can do computer simulations. So, we take imaging from individuals who've been diagnosed with acute pulmonary embolism. We then create a subject-specific model for that individual or group of individuals in this case. Why we were motivated to do this was to understand why you can get people with apparently the same clot load, so apparently the same amount of clot blocking off bits of lung, but they can have very different clinical symptoms. This is important for stratifying patients for what sort of treatment strategy should they get. We were from this work able to come up with a potential new model-based biomarker for stratifying patients into these different groups. A radiological scoring tool that radiologists can use to come up with a simple metric to stratify patients. And a surgical tool, so for being able to do virtual surgery to remove sort of fibrotic mass in patients who go on to develop a chronic form of this condition. So, this little journey I'm talking about. So, we start off with just some questions where there doesn't appear to be any real specific applied outcome. So, how can we model how the lung tissue deforms or can we model it? So, being in a sort of basic science question, this was supported by Marsden, which gave us the ability to develop the basic model framework. Then, we go on to validation in animals, validation in humans, applying this model in patients who are invasively or non-invasively ventilated. And then, through international connections, through to which we're looking at now, understanding how different types of ventilation strategies can be optimised to individuals to improve their clinical outcomes. Another question. What happens to the lung as it gets older? Lots of bad stuff, I can tell you. So, an NIH subcontract, first of all, just to develop a statistical model of the lung and then going on to re-examining hypotheses for lung function now in the framework of the older lung. Okay, thank you.


Hello and good afternoon to all of you who have joined us today for this webinar on the topic of a digital euro My name is Kira Lawler, and I'm with the ECB's Directorate General Communications I am joined today by Jürgen Schaff, Advisor at Directorate General Market Infrastructure and Payments here at the ECB Who has very kindly agreed to talk us through the idea of a central bank digital currency To give you some context to this in October the ECB published a Report on a digital euro looking at its opportunities Challenges as well as its societal implications At the same time we launched a public consultation Which was seeking the feedback from a wide variety of stakeholders and that consultation is still ongoing So today Jürgen will talk us through the key points of that report So if you could just give me a moment I will talk you through the kind of key issues in terms of the virtual event I know by now you're probably all very very sure how virtual events work But just give me a moment you will currently be seeing myself and Shortly we're going to be seeing some slides Just in case you're wondering why you can't see and if the other participants, please don't worry. They are there It's just a feature of the tool that we're using So at this point your microphones and your cameras are switched off But don't worry during the Q&A session they will be turned on and you will have the ability to speak If you do have any headsets or earphones I would encourage you to use them during the Q&A session just because the sound quality is much better So if you do have any kind of issues or technical problems I would ask you to contact my lovely colleagues in the chat Which it should be located in the right hand corner of your screen Just be sure to talk to all participants so that we can see your comments So as mentioned in the invitation this event is being recorded and the recording Along with the slides will be made available on the ECB's website after the event So without any further ado, let me now pass over to Jurgen who will start his presentation Jurgen the floor is yours Thank you very much Chiara and thank you for having me Now digitalization is penetrating all areas of our life Services in particular Industry 4.0 is a catch word but also payments What we've seen in the in recent years was that more and more people tend to pay with non-cash means of payments And now with the pandemic this trend has accelerated People like paying more paying with credit cards with their mobile phone application Contactless payments has become very very popular So money also payment and money is going digital So no surprise that also the central banks are investigating and dealing with the idea of making their money digital We at the ECB have published a report Dealing asking questions on a couple of scenarios that would make the case for a digital euro more pressing The report was published in early October. We started a public consultation on that report as of the 12th of October And I will go through you Go through the report Alongside the following overview the next slide will show you I Will start with the definition and the main benefits of the digital euro when it comes one day I will present the advantages of such a digital euro. I Will discuss with you present you what is the current Environment for such a central bank digital currency as we call it CBDC We will present you the elements. What makes this a viable product? I will show you that this is supposed to be a Compliment to private initiatives and not something that substitutes the private sector. I Will present you some ideas on what possible types and features of a digital euro could look like I gonna explain to you the public consultation And I will share with you some insights about the conceptual work that is undergoing and the Experimentations that we are doing and finally I will give you some insights on the possible way forward next slide Shows you our key Messages our definition of what a digital euro is actually like So the key thing is that this is central bank money different from commercial bank money. I will Discuss that in a minute. So it's central bank money. It's made available to citizens and firms it's gonna be digital and The idea and the objective is that it's used for payments Now main elements of this is that the digital euro is supposed to be a compliment To cash not a substitute. So we repeat that over and over again Cash is not supposed to be abundant the digital euro when it comes would be a compliment We are seeking for Synergies with the industry. We are not tending to replace or crowd out the private sector It's about synergies with banks with payment service providers with the providers of applications and the like The last point here Currently, we do not see a need To introduce a digital euro. It hasn't been necessary so far, but it might be the case that this changes in the future on the next slide You see the benefits in a broader sense of such a digital euro a digital euro could support the Ongoing digitalization of the economy that we observe everywhere. So industry 4.0. I mentioned already Service sector is going digital and all these things work together these sectors work together their interrelationship could be supported and accelerated and improved by a digital euro Then we do observe a decline in the use of cash So different from other jurisdictions like in the Scandinavian countries cash is still a very important means of payment but we never can be sure how fast an acceleration of the decline in the usage of cash can Can be in Norway recent figures showed only 4% of payments are undertaken By cash Sweden had seen a tremendous decline in the usage of cash In Europe also depending on which country you have a look Cash is still important, but as I said the trend is going in the direction of Less and less cash more and more cashless means of payments so at one point there might be a need for a means of payment that is as accepted as cash Depending on the scenarios Another issue is that there are mounting concerns about the sovereignty of our Financial systems or payment systems in Europe we observe the growing importance of foreign private digital means of payments, but also Possibly public means of payments with the potential of crowding out our domestic currency So the threat is just a virtual one. It's not materialized, but Once we better be prepared before such a scenario such a risk Materializes so the message here clearly is the euro system the ECB need to be prepared the next slide Gives you an insight on what others do. So this is a snapshot of the year that phases out The Federal Reserve system so our counterpart in the US the Fed is working on policy aspects of CBDC The central bank digital currency they have a partnership with the one of the leading universities the MIT to test already several architectures Likewise and even more advanced the People's Bank of China. They have already started to investigate a digital currency Six years ago and they started this year with actual experimentation in a real environment And so they are actually leading the pack of central banks us the euro system We are currently in the phase of active listening and also this exchange if you will is part of this and we are In the public consultation that will end in January 12th Currently on the globe 80% of all central banks are engaging somehow in the work on CBDC Private projects like Facebook's Libra or DIME as it is called now are thinking of integrating some CBDC solutions in their systems and Also, the private sector is investigating and testing in that area more and more Next slide please Now in order to understand better what this is about We have a standard explanation distinction Along the concept of liabilities what a CBDC or a digital euro as we call it here is about Now the most important thing or the most safe asset in this context is the liability of a central bank, so The liability of a central bank would be a claim that you have as a citizen or a company against the central bank Currently there are two different Materializations of this first is cash cash is a physical form of such a central bank liability and it's Accessible to the general public. So every citizen has access to cash the central form of A central bank liability is Central bank deposits normally banks hold that a couple of other institutions have that too There's a limited access Not everybody can have that a feature is that it is digital unlike cash Now there you see already a digital euro would combine these features So it would be digital But it would be accessible by basically everybody and it would be a complement to the other two forms of Central bank liabilities to cash and to do and two deposits at the central bank The other form that we know the other form of liability is Liability of a private entity that is commercial bank money. You all know The site deposits with your bank that is digital money if you will but it's with a commercial bank It's commercial bank money Then you know E-moneys. This is pre-funded electronic means of payments and The third element here relatively new Some stable coins they are also liabilities of a private entity covered often by claims and liabilities by clearly Identifiable entities and the last one and these assets if you will are Not liabilities at all the crypto assets. So the most The most known example is Bitcoin. It's not a liability against anybody. So As you probably know, we are quite critical about that on the next slide You now see what are the elements that are important if any digital euro once it would come Need to have in order to make it viable. So there are a couple of areas where we have to reflect and perform In order to be accepted by the retail client and emergent we have to take the end user perspective. So it has to be Smooth functioning comfortable easy to use and the like Then we have to take at one point design decisions. How is this supposed to look like? then of course it has to fulfill the highest standards of Legal requirements because in the end this is supposed to be a legal tender. So It has to be waterproof in terms of its legal composition and definition Any central bank digital currency issued by a central bank Will and would need to be based on a proper well functioning back-end infrastructure Luckily, we have our target services already in place a huge large-scale highly developed Payment system which we could use but of course a digital Euro a payment solution for the retail segment would also come up with a proper front-end solution So how people would use that in order to effectively pay? and all this need to be combined via a to be developed distribution framework where the digital euro the commercial bank monies payment services and the front-ends needs to be Combined and interlinked on the next slide You see What is important to us and I mentioned this already at the very first slide? We want to club complement private initiatives In our view There should be a coexistence of various means of payments. So to provide the Citizens with a choice of various options what you have already now So you can choose between cash you can choose between a debit card credit card You can use one of these cards in order to back your mobile phone payments. You can pay in the Internet e-commerce with Payment service providers. So you have very many choices and we want to continue to have that and We assign a huge importance to the private sector here One of the reasons why we do that is that we consider now and in the future that the private sector Is and will remain more innovative. So we believe that The decentralized reflection of private Firms brains will come up with better ideas new ideas, which can be Decentralizedly tested some my may fail others might succeed and this ensures the best solution to the citizens So we believe in the innovative power of the private sector Us as a central bank. We do not have the ambition to take up the front end in that respect in that context and Also, we have no ambition. It's not our aim to take away the deposits from the citizens on our balance sheet some fear that there's a bank run and Immediate bank run in terms of financial distress or structural disintermediation it's not our intention to foster or accelerate such a process and the final element in this context is that we would foresee that the intermediaries the service providers between the digital euro and the retail Users should be offered preferably through institutions that are probably overseen and supervised and Part of the European regulation on the next slide I Can show you the two fundamental types of how a Digital euro could look like. So these are the basic concepts the basic distinctions How it could look like the first one is an account-based means of payment That is you can see here on the slide Two citizens man and woman they can exchange their payment the settlement of which could be done by a central Institution could be done by a fast Settlement infrastructure like tips that we have already in place But as you see here, you would have a central institution Where the settlement takes place? The other this the other Possibility other option would be a bearer solution or sometimes it's called a token solution So this would mean the transaction and the settlement would take place between two individuals without a central Institution or party for the settlement. So this is closer To what you know already from cash, whereas the first one is more something like you have an You have a transaction from bank account to bank account. So these are the fundamental two versions forms that you have but They two could of course in reality coexist on the next slide Some more notions ideas how a digital euro could or would look like so if you imagine how it would look like it would probably look like Eddie any other private means of payment that you are familiar with So the difference wouldn't be too big or noticeable It would be important that it's available throughout the entire euro area and In the future at least conceptually that has to be reflected upon also outside It has to serve all areas of the population and all areas of the euro area So this is about the need to respect and aim at financial inclusion so the Option of having a new electronic means of payment Could help those unbanked or underbanked in some areas in particular young people in some areas of the euro area to foster financial inclusion at the same time is an important aspect That shows that we have to keep cash some of our elderly Citizens might be a bit shy of embarking on to a very innovative means of payment like a digital euro So for them it is important that we also keep and that's our promise to issue cash also for the future One very important issue is that we have to respect privacy. That's why many people Want to stick to cash so a digital euro has to deal with this issue the high demand In terms of privacy at the same time we have to be aware that regulation is also on such a trend that Anti-money log laundry legislation is there. So there a balance probably needs to be strike by definition a Digital euro would be normally risk-free. It's central bank money and central bank money is a risk-free asset So that's very important and It's understood that this feature needs to be there And last but not least in this context light cash a Digital euro would be free of charge for its basic use for the payers on the next slide You see that in order to come up with a viable solution. We also need to reflect upon potential risks Reflections concerns that are definitely out there. We cannot deny that there are concerns they I Have listed here three among which are central banking So what are the consequences for central banking monetary policy? what would be the consequences for Economic and the financial system the financial stability and finally the citizens there are concerns We have to reflect very carefully increase the resilience and avoid shortcomings and of course disturbances We have to reflect very carefully on the design features In order to cater for the before mentioned issues of privacy There's an issue of whether or not a digital euro would be remunerated in various interest rate environments for example, it makes a difference if you are in an Interest rate environment of four percent or zero percent or below zero percent That are aspects that needs to be investigated carefully And then of course there is technology We have to be very carefully in checking whether a decentralized solution Would be superior to a centralized solution how this could look like and of course we somehow need to find a solution for offline payments if we want to have the same level of service as Cash provides on the next slide You see we are currently where we are currently in our process as mentioned We've started the public consultation in exchange with the citizens with stakeholders the industries Associations you name it it will end In January 12th at midnight and I invite everybody to also fill our questionnaire That is on our website. You will still have another yeah, two and a half weeks or three weeks or so to fill that Questionnaire in order to submit your views For us it's very important to get the input from the citizens because we want to to know and find out on how The European citizens would like to use a digital euro. It's very important to us and At the same time we want to engage with public authorities Industry associations banks service payment providers and market participants in order to also to reflect on their concerns and See what they are expecting from a fit for purpose solution So yes Now my screen is dark There we go. Yeah, we go again. Okay, so I While my screen is dark I sweep a shift to my offline solution Assuming that you can see and hear me So during that during that period of the public consultation Which is in our Understanding a process of active listening. We are also Continue to do the conceptual work. So all the reflections that I Showed you in a way On a high level has to be thought through in more detail more granularly And also we have started already so in parallel to the public consultation with testing and experimenting on potential technical solution so this is going in parallel and It's the preparation For any decision that has to be taking taken in the future So notice a decision has been taken so far What we aim at is once we have the results from the public consultation We're going to assess this Present this to our highest decision-making body the governing council The governing council will take a decision by the mid of next year Whether or not to start a project to investigate on the feasibility and also the Desirability of a digital euro so that will also then take some time before a final decision on A viable digital euro will be taken and for the time being it's not clear When that decision will be taken But the objective is to be prepared once The need arises and once the scenarios that I have described at the very beginning Tend to materialize. It's very clear. There's a lot of lead time required. It's a major Logistical endeavor, it's a huge project that needs time and we don't want to be taken by surprise So there the key message is we need to be prepared and we are working hard to do so and With that I would like to stop my monologue now and hand over to Kiarra again, and I'm very curious To hear your Comments and questions. Thank you very much So thank you very much, Jürgen for that really interesting presentation and for your grace and continuing on Under pressure of some technical issues at our side So I'm sure that by now our participants have some questions in mind And of course if your organization has already done some research into this issue Please feel free to share that with us as well We won't be taking any questions in the chat, but if you do have a question, please just raise your electronic hand The button should be located in the bottom right corner of your screen. It can be very small so so just have a look there and Then once you've asked your question raise your hand I will call your name and my colleagues will connect you and then we should be able to hear you and Hopefully see you as well We would encourage you to turn on your camera if you ask a question And I would just kindly ask you if you could state the name of your organization Before you asked your question And of course to lower your electronic hand afterwards So I will just give you a few minutes to go about raising your electronic hand And yeah, I'm looking forward to your questions as well If you do have issues finding your electronic hand Please talk to my colleagues in the chat and they will be able to help you I'm sure you must have a question or two after that very detailed Presentation so yeah, we very much look forward to hearing from you And we're definitely ready to answer any questions you might have. Oh, and I see that we do have one question coming in Martin Schmalzried The floor is yours. Please just give us a couple of seconds to connect you and we should be able to hear you very shortly Yes, can you hear me? Yes, we can hear you Okay, so I'm Martin Schmalzried from Kovacic Families Europe family association Representing the interests of families and financial services and many other topics We obviously don't have an official position on this yet because it's a very fresh topic But let me just ask a few questions and maybe a comment also thus far so Basically, what would be the added value of the digital euro besides the fact that it's risk-free and free of charge to use Because for any of you that have used an ERC20 issued stablecoin You can do much more besides payments with it. You can invest you can trade You can do plenty of things you can send it to the other side of the world very easily You can even create an account without KYC and so it's just as easy to use It's maybe just a little bit more expensive, but the technology might actually get rid of the costs and Then the comment is that for the moment What I suspect is that making sure that all you citizens have a unique verified account with the ECB would make it much easier To send a stimulus like the Fed did To boost consumption and I'm wondering if that's why you're working so hard on advancing on a CBDC solution And if you start to openly envisage such a solution We very much like to be part of the conversation Because adding yet another tool to micromanage the economy to tick up, you know Consumption and all this is not necessarily the way out of the crisis at least from my understanding and the MMT schoolbook might not have all the answers For you know using those kind of tools. Thank you very much Thank you very much Martin for your questions, which I'm happy to try to answer So the first question of where's the value added? You mentioned yourself that the Solution that you had in mind and that which you are apparently promoting here Would be slightly more expensive So definitely as a means of payment it would be a value added to have a Central bank digital euro that is first risk-free and in its basic usage free of charge That's a definite and important value added. We are convinced of that second the idea and the concept of the digital euro as we are presenting it now in the conceptual phase It's not an investment asset. It's a means of payment. So we are not trying to attract investors we try to support we try to Offer a means of payment of the highest standard. It's not supposed to be an investment In the same vein You mentioned monetary policy There are potential reflections on how Monetary policy could be applied upon a digital euro, but This is not a monetary policy instrument now. This is a means of payment We are currently not in an advanced phase discussing reflecting on inventing new means of monetary policy instruments the current conceptual Investigation the experimentation experimentation is not about monetary policy at one point. We have to reflect how this fits into the whole universe of portfolio of instruments and the like but this is not about monetary policy Likewise the question of stimulating is not part of the current Reflections, I hope that answered your questions and I'm happy to take more Thank you very much Jürgen And we have another few questions coming in here. I can see so I think we will Turn now to Jean Alex from the BEUC Jean if you could turn on your camera, that would be great as well so we could see you But we should be able to hear you very shortly Jean Alex you hear me Yes, we can hear you. Okay Thank you. I am from Bergs European Consumer Organization We have already some discussion with the ACP on the subject. So I have a lot of questions One important point for consumers in the use of cash is anonymity Do we have some guarantees that the use of cash will be anonymous? Second point is about fees when you say that cash is free of charge I am sorry today cash is not at all free of charge. It's more more expensive for consumer to get access to cash With the new fees on ATM and that kind of thing. So how can you guarantee that? third in our opinion from BEUC is that the Digital euro should be a bearer instrument. That means like cash Electronic monetary unit or token that you can use even when you have an electricity outage If there is no internet connection, if there is no electricity If it's a bearer instrument, you can use for cash. That's my three first question I can have some other but if you cannot already answer to these three one Thank you. Yeah. Thank you very much. The questions are already very meaningful and Happy to take them Anonymity is definitely one of the most important features of cash and This plays an important role in our investigations. We are fully aware that The demand of citizens is that they ask for a certain level of anonymity At the same time we are aware that the trend goes in the direction that the regulation in terms of Anti-money laundering Counterterrorist financing and the like is on its way. You have regulations on Cash payments to banks and the like so the environment is as it is we this is a conceptual challenge We are happy to take your opinion on board We have the exchanges with your organization already so This is a challenge. It's one of the most Important issues to find a solution on how to guarantee a certain level of anonymity for the solution of a digital Euro now the cost of Getting cash That you might get from your banks is the cost that Intermediary imposes it's not the issuer of cash who charges the citizens for that So the basic usage that we have in mind is providing issue issuing a central bank digital currency digital euro It's not completed completely excluded that some intermediary services in between might Also add fees for their services, but this we are not there yet Our understanding is that for the basic usage of our digital Euro issued by the ECB No charge, but no fee should be charged I Presented two options of how Conceptually a digital euro could look like one was the account based one was the bearer or the token and we are in the investigation of what would be best and The combination of both would be possible. So Even a bearer solution would not necessarily require To cancel the idea of also or combined having an account-based one. So you mentioned the Scenario of an Placout and of electricity. So if you have a combined solution, so you have an account-based Solution plus a bearer based solution if you have an Outage of electricity supply you could still then use the bearer and as I mentioned A couple of times today and our policy makers do so too It's not foreseen to abandon cash. So the There are reflections in the technical solutions on how to make sure that even in the absence of Electric supply a bearer solution could work, but as a fallback solution cash should also still be there Great. Thank you very much. You're going for that I think we have another question here from Claudio Zeetz So and we should be able to connect to you now And I would encourage you to turn on your camera if you would like to do so So please bear with us for a moment while we connect you Yeah, thank you very much and Claudio Zeitz from the Federation of German Consumer Organizations in Berlin And I think there are many interesting Potentials for the for the digital euro that could for example lie in more privacy resilience Financial inclusion and you alluded to all of them. Thank you for its very Good illustration and explanation But you also pointed out this and that it's very important So far for the ECB to Include existing solutions, you know, you mentioned not crowding out and private solutions and all that and From our perspective there there's a strong conflict between the two potentially on the one hand Meeting these non-commercial objectives like financial inclusion privacy Very low fees. Maybe no fees resilience, you know adding layers to an existing system making them less efficient from a commercial perspective and so my question would be Could you perceive adding a new infrastructure? Beyond existing bonds because we think Digital euro is not just it's not just an item, you know, but it From our understanding it has to be a whole new infrastructure. Thank you Thank you very much for that visionary question The the challenge and the endeavor that we are currently in is is a huge one. So I showed you a couple of Concepts that potentially provide solutions options to be combined to choose. There are many trade-offs. So I Mentioned and the the previous question showed that too There is a trade-off between the level of an anonymity that you want to give to the citizens at the same time you have Requirements in terms of regulation. So a balance has to be found there It's huge the endeavor and the challenge is huge Now wherever it is possible we would like to Use the infrastructure that is there so infrastructure when I say infrastructure maybe to make that clear Amid your question. I'm talking about let's say the the settlement infrastructure. So where the money is Settled in between banks. That's already there and it's all digital anyway, but it's it's for wholesale banking if you will now We are able to use this we have been developing these infrastructures in the last years make them faster We have now tips that makes payments They can be settled within Parts of seconds very cheap very fast all around the clock every day of the year So the infrastructures the electronic infrastructures that are there they have been developed and of course We want to take advantage of this when you now think of infrastructures in a broader sense or also the The idea of disintermediation of doing payments without banks without Firms and the like if we would if a central bank would start from scratch now that's in a vision you could reflect upon but you have to be aware of the Enormous challenge that you would have if you if you change an existing Ecosystem of how a financial sector a banking system is working. So now to replace the whole System as it is would come at very very high cost. So in terms of efficiency and also in terms of effectiveness, it's probably a better approach to rely on the existing system as it is and To develop it further where the need is be but then also Try to strive for the highest and best solution that you can find Perfect. Thank you very much. You're going for that. I think we will now go over to Mark Beckman from positive money and Mark just gives a couple of moments of why we try to connect you And I think after that we will have a question from Benedicta Ruprecht So mark, please go ahead when you're connected Can you hear me? Yes, we can hear you now Perfect. And thanks for the event. I'm working for positive money Which is an NGO based in Brussels that is working towards a more fair, sustainable and democratic your zone We think that it is really important for a digital year to be accessible and safe for all citizens and More broadly, we think that a digital year allows opportunities to rethink the financial system from the ground up as well as to rein in the power of private banks For example, if you would imagine that sent or that citizens prefer Digital digital year over putting their money into private banks Then we feel like this would not necessarily be a bad or disruptive thing Because these funds could be landed back by the central bank to commercial banks based on the interest rate And I'm curious now if you consider it in your research these more broad stem equations And what would be your intuitive response to them? Thank you Thank you very much for that question, which is also quite visionary if I may so Of course, there's a discussion Out there in the general public with the NGOs of which you are part of Which sometimes comes up with critical questions on the financial system as it is the critical discussions have accelerated after financial crisis 2008 and 9 and that discussion is Justified and legitimized now our question within the central bank community being defined as it is being obeying regulations and laws on the highest level within Europe We don't have that discussion. We have our mandate and we have to provide the solutions and Where we see a need to change things within that mandate within that system within that environment we try to improve and Where there's a need we change Your question so so we are not challenging the idea of a bank-based Financial system. We are encouraging the Political movements that go in the direction of more Market instruments in order to finance the European economy, but we are not in the position to come up with a Proposal to replace the whole financial system as it is as we know it and our Rationel for providing a potentially new improved solution a digital euro would for the time being Within the environment as it is so we are not Coming up with proposals to exchange the whole system If that will be the case one day Because of the political discussions who knows but that's beyond our mandate Thank you Mark for your question and what we now have another question from benedicta rupert But she's having I think a few technical difficulties. So she sent the question over to me here So her question is I mean she is From it's a cave in I think so at the Chamber of Labor in in Austria And her question is whether it will be possible to use a digital euro without using electronic banking Generally so as a normal course of action. So would you have to use electronic banking? I Love that question to it depends So as I try to show in one of the slides at the beginning or in the in the middle There are two basic conceptual solutions One would be an account based so citizens would have a an account with a central bank There you somehow have to be connected in order to make a settlement to make that payment So if I want to make a payment to Kiera It has to be from my account to hers and normally there should be some Intermediation in between and the settlement would take place at the central bank So we need we would need to be connected. That's the account based conceptual solution The alternative to that is the bearer or token solution. So Kiera and I would have Devices maybe the mobile phone you could think of other tokens as well and we could exchange Value of that digital euro without being connected. So technically You could think of solutions with Bluetooth or the like but this that just make that out now up now out of the blue But such a bearer solution could and should be indeed be possible without being connected without Intermediation and without the need of access to electricity and potentially those two Conceptual solutions that are distinct they could also be combined. So you could have both but in any event the Reflections have to take account of a solution that would be possible offline and that would be possible without then a bank Thanks benedicta for that question And I think we can go back to Jean Alex. I believe that you have another question So please bear with us a moment while we connect you Thank you. Just a question to to complement the question and the answer you have done to benedict Physically where will be Located the account because you say that it's a central bank account But It's going through an intermediary. So I guess that intermediary will be a bank or Or do you imagine any other institution? What what would be the infrastructure? How it will work in practice this account in digital euro so the Because you have also the aspect of how as a consumer I transform my My phone that I have in a commercial bank in Digital euro and I think there is also a need of strong strong customer authentication We'll do the strong customer authentication Just to to to elaborate a little more on the practical functioning of the account Again, we are we are currently in the phase of Public consultation and in parallel conceptual conceptual deepening and reflection on Potential solutions that need to be tested that needs to be further further analyzed. So All your questions are valid, but there is not yet an answer in principle. What is clear? The account physically if we have an account based solution is at a server With a central bank you would need probably to have backup systems and the like But you can also think of decentralized solutions where you wouldn't have to have servers But that is all under investigation. So the Superiority or how to combine Decentralized solutions potentially based on distributed ledgers Centralized solutions with servers where you put them are they maintained solely by central bank communities? Are they maintained by intermediaries from the private sectors? These are open questions still to be answered. So we are not There yet user authentication will be very important by all means But that's then only later to be investigated when we are approaching the testing of potential prototypes, but The Physical placement In the first round of reflections very much depends on whether you we aim at a decentralized solution or a centralized solution and We are not There yet to answer that definitely Thank you, John. I don't believe we have any more questions at the moment But we are coming up to about five to the hour But if you do have any more questions, we can maybe could take one more and but please raise your hand now I think we may have one further question And I think it's from a Vinnie Pran Ivan. Sorry if I pronounced that wrong But we should try to connect you now. I think this would be our last question of the day Hello. Oh, hello. Hi. Hi, it's Vinnie Pran Ivan from the Portuguese Consumer Association deco I just want to follow up on Jean's question regarding the role for intermediaries But it's crucial for consumers to understand what is the design just Due to the very significant fact of fees that may be charged in that role of intermediaries So just to make sure that whenever the design is thought of and the further steps that are taken It is necessary to take into account that the role of fees and charges that may be put in place by these intermediaries if it's a decentralized solution may result in a none so Relevant or interesting solution for consumers per se just to give an example the instant payments Solution that has been put in place and has been somewhat pushed forward in the digital agenda Has in some member states in the Portuguese case is one of them Resulted in almost a failure for consumers as the prices Practiced a put in practice by commercial banks has pushed consumers away from this solution So that was my idea and my comment. Thank you very important question and The that you pose it basically again shows how important it is indeed. So again This is a question that needs to be answered properly We don't have a definite answer now one basic idea is that These intermediaries from the private sector are supposed to be in competition So we previously heard that the excess to cash is not necessarily free So there are banks who offer the excess to ATMs cost free for their customers others charge money others in remote areas where you have a lot of consumption in Shopping centers are the like you have independent providers of cash machines demanding higher fees so in a competitive environment the hope is that the best solution to the customer at the lowest potential cost is offered and within a competition the best or if the Customer prefers it the cheapest solution will be offered our aim is to Make sure that the basic usage will be free of charge in any event it's to be expected that Additional services which is basically out of the the remit of a central bank if someone provides a better service More features and the like which are not classically the features that you would provide As a central bank that their services might be charged hopefully in a competing environment and the best Can ask for some fees others can't so but we would not interfere with Competition but we want to make sure that the basic user usage would definitely be charged for free of charge That that's the goal. That's the goal Thank you very much Renee for that question and with that, I think we're one minute of the hour So I think it's probably time to end this webinar And I'd like to thank you very much Jorgen for joining us today for this discussion on such a fascinating and complex topic as well as all of you if you're very valuable contributions and questions We would really be interested in hearing your feedback from today's event and there should be Short survey which will be posted in the chat. It will only take about two minutes to fill in But we'll be very interested to know about how you feel about this webinar But also other topics you might like to hear about in future such events So if you have any other questions in the meantime, or you would like to talk to us You can always do so through our email address at civilsociety at ECB dot Europa dot EU So we very much look forward to seeing you again at the next event and thank you all and good afternoon


My name is Andrea with Food and Mentory Adventures in Food and today I'm sharing a quick and easy recipe for caramel pecan banana muffins. So let me show you what you're going to need and I'll make sure to leave exact measurements in the description box. For the muffin portion you are going to need flour, sugar, pecans, caramel baking bits or you can use just the regular caramels and just cut them up. You're going to need a ripe banana. Now my husband and I are not huge banana people so I prefer a milder banana bread but if you like banana flavor you're gonna want to use at least three. You're going to need some baking powder and salt, a couple of eggs, butter and butter milk. For the crumble portion or streusel portion you're going to need some brown sugar, vanilla, cinnamon, melted butter and flour. So let's get started. Okay so the first thing we're going to do is start off by hand mixing our butter and sugar and by the way my butter is at room temperature and it's really soft. Now I'm going to add in my eggs and these are also at room temperature and my buttermilk which again is at room temperature. You want to make sure when you're baking that your eggs, milk, butter, anything like that you want to make sure it's at room temperature it just cooks better and I'm going to add a little bit of vanilla and I'm just going to use my hand mixer now. Now I'm going to add in my banana and I did mash it up first. I'm going to give that another mix. Now I'm just going to add in my flour and my salt and baking soda. I believe when I was going over the ingredients I may have said baking powder but this is baking soda. I'm just going to give this another stir. Okay so I mixed my batter until it was just moistened. You don't want to over mix that batter. Kind of like the same with pancake mix. It's like you don't over mix it same thing with the muffin mix. So I'm just going to gently fold in the caramel bits and those pecans. Now we're going to set this aside while we work on that streusel topping. Okay so I've got my bowl of flour now I'm just adding in that brown sugar. I'm just going to break it up a little bit and I'm going to add in a generous amount of cinnamon and my butter and I'm just going to stir it all up. Okay so I've got my streusel mixture all combined and I know this is kind of a weird angle but I wanted to show you all what I did to make tulip like muffin holders. So I used parchment paper and then I sized it for the muffin tin and then I just put a cup right on top just like that and just kind of smashed it down to get it to hold in place. So now I'm just going to fill the muffin cups. I'll just do one on camera for you all. Put the muffin mixture right down in there and make sure that you leave enough space for that streusel topping. So I've got my muffin mixture in there and then now I'm just going to add on my streusel topping just like that and I will go ahead and do the rest of those. Alright I've got my muffin tins all filled. In case you're not able to tell I am using a jumbo muffin tin so this recipe makes six jumbo muffins or 12 standard sized muffins. I've also cut down some of that parchment paper a little bit so it doesn't burn in the oven but I've got my oven preheated to 350 degrees and I am going to bake these for about 40 minutes or until they're done. Alright so I just took the muffins out of the oven. I let them bake for exactly 40 minutes. I'm going to let these cool completely and then I am going to cut one open so you all can see the inside. Okay so the muffins cooled completely and I took one out, cut it open so you all could see what it looks like on the inside. The reason you don't see the other side is because Howard and I ate it. We have no self-control. It was so good. You can taste those pecans and you see that melted caramel. I will say I probably could have baked it five minutes less. I baked it for 40 minutes. Probably could have done 35 minutes. It's a little dry but it's still moist. It's very good. I hope you all enjoyed this quick and easy recipe. I have an entire playlist of easy breakfast recipes. If you enjoyed this video please give us a thumbs up and if you haven't subscribed to our channel we'd love to have you. Thanks so much for watching and we'll see you all next time.


Alrighty! Okay so as you can tell by the footage we got Leviathan running and boy just use your own eyes in this video it is running faster than I personally I don't know if it's because I haven't been on it a year and a half but it's running so good like it's running so good I'm so excited congratulations to everyone you should have gotten a reservation I don't see any reason why you wouldn't have um for anyone going July 5th or 6th we are Craig and I will be at the park and we are filming vlogs etc and construction updates so feel free to come say hey or hang out with us um totally welcome but nonetheless Leviathan was testing we got all that on our zoom drone and then we also got them prepping Yukon Stryker for its first test run unfortunately the drone died right about four week could film it so we didn't get Yukon Stryker's first test run um and I was at work otherwise we would have had the camera and everything but nonetheless we will get Yukon Stryker's test run don't worry um and uh yeah super excited I hope you guys are excited um you can watch the whole video to watch Yukon Stryker getting prepped or the trains are all out and all that um or you could just keep watching Leviathan's test run I just had to update you guys and um again if you still have any questions about booking or reservations ask them down below any questions about Wonderland ask them down below try and answer them to the best of my ability um or go check out Grace and I's interview on 2021 at Canon's Wonderland because there's a lot of juicy information about new things coming in 2021 whoo it is literally 1.46 in the morning I am recording this video you guys are going to watch it at 9 in the morning or whenever you end up watching it today or tomorrow um but thanks so much for watching and supporting the channel um now just enjoy some awesome footage of Leviathan testing have a good one guys bye


I think social media I decided must be subject to the same judgment that I give to crowds, that whether it's a standing ovation or looking bored, either are no real defining of the quality of either what I have to say or how I said it. And I think therefore using social media well means I'm not playing to the audience for the sake of getting more followers or more likes or I'm projecting an image that is not the reality of who I am or who you are or who the world is in their day-to-day lives. I think all of that is not using social media responsibly. Being faithful to hear what I want to put out and say whether it's controversial, if it costs you followers, if it costs you being trolled, then as long as it is your authentic voice that you want to say something, then great, that's I think the best use of social media.


With us today is John Hernandez. He is the Executive Director of Nonprofit Exchange. So the first thing I want to talk about is simplicity. And you're going to see that even in my slides, we try to keep it simple. Technology can be really overwhelming. We do a lot with fundraising for nonprofits and making sure that the way people can donate through technology is accessible to everybody, to anyone who doesn't have a smartphone even. The number one foundation we have found for that is text messaging. Everybody knows how to text message. You know, my grandmother sends me text messages about things she sees on the cooking channel. Well, at the start of COVID in early 2020, we, I was just amazed at how many people were really coming out of the woodworks to try to help their local neighbors.  Everybody had a Facebook. Everybody has a Facebook almost. And so we were seeing Facebook groups pop up in every city and every county to create like a neighborhood of giving. Did you lose your job? Can you no longer afford food? Can you not make it out because you're a single parent and you don't want to take your child out to the grocery store? There were so many reasons that people were homebound and were having trouble getting to accessing food even from their local pantries. The big problem with the groups was you would see a post and it would say, hey, I need someone to pick up, you know, milk and bread. And it was dated from three days ago. So within a few weeks of seeing these groups pop up and seeing so many people subscribe to them, we want to come up with something that immediately tied in people who are in need directly with those who could help them. And so the two groups that we're trying to support were pantries. Pantries of course were overwhelmed, at least the ones we were working with. You know, they were ready short staffed. You had a lot of corporate partnerships who weren't allowing their employees to volunteer on site. And then of course we had the people that we were talking about, the people who were homebound who had no way to get out. Maybe they were new in town. Maybe they didn't have anyone who could go out and pick up groceries either from a grocery store or from a pantry. So we created two different routes for people to access our platform. Our platform is 100% text-based. And it was a way for an individual to put in a request for up to five grocery items that could be donated or reimbursed by a volunteer or a way for a pantry to put in a request for someone to come by, pick up a box of food and just drop it off at someone in needs door. And so again, creating a solution where we weren't bugging our volunteers all the time. In Austin, during the freeze, we had 600 people sign up overnight to volunteer and do deliveries. How do you not annoy everybody when they're all claiming the same volunteer opportunity at the same time? And so the solution we came to was creating value around each text. In all our marketing messaging, we told everybody, hey, these messages go out one at a time. When you get that message that says somebody is in need or a pantry needs your help, you are the only one looking at it at that very moment. This is your chance to really be a hero. And so that's why we've structured it around not doing a mass text to everybody and then people getting frustrated by everybody replying yes at the same time and then you find out the volunteer opportunities no longer there. It's about saying, yes, I can do it. And knowing that if you're getting that message, it means someone else passed on it. And so you are the direct line for support for that person, for that pantry. It also really keeps down not annoying your volunteers. It really brings it down to you're getting maybe a message once a week because the other 600 volunteers are really picking up the slack. You're not getting constant messages throughout the day, through push notifications, through text messages. You're getting it at the exact moment when you're needed. And so it was about creating that culture of value where our volunteers know when they get that text message, it's their chance to be a hero for someone. And so we keep it very simple. The details are in the text and then it's a simple yes or no. Each volunteer has about eight minutes to reply before it moves on to the next volunteer. And again, with text messaging, it allowed us to open up to a whole new realm of people we didn't know were even need. We created a new way for people to actually submit their requests for assistance through text message. And we found out that a lot of apps and a lot of websites aren't accessible to those who are visually impaired. And so by doing it through text, they're able to use their same apps that they use for visual impairment to put it in order. And I'm gonna talk about a unique story about what happened in Austin. Right now we operate this out of three states and about five different cities. So in Austin, I actually happened to lead town right before the freeze. If everyone's familiar with what happened, everyone lost power. It was below zero temperatures, no water in some cases. And we pushed this platform. We were building our volunteer base up in Austin. We kind of just pushed it out the door. We woke up the next day to 600 people ready to do home deliveries. They said, I'm ready to go out, pick up someone's needs. And in just a matter of 24 hours, we completed over 200 emergency deliveries. Again, all of it's through text and it was about creating a fast and simple way to organize a community to be able to help those in need. Our platform is completely free to anyone in the US. You can visit our site, helpaction.org, sign up. You can get your pantry started and we can guide you through the rest of the process.


What is good, Marvel Squad? And welcome back to our channel. As you know, if you've seen our recent video, we are in LA with Jules and Saad. We are out here for Coachella. We did go to the Celsius event for Week 1, but we are going to Week 2, which is this weekend. We are super excited. If you guys see us at Coachella, make sure you guys come up and say hi. We want to take a lot of pictures with a bunch of you guys and meet so many people. So if you're going to Coachella Week 2, we will be there Friday, Saturday, and Sunday to see anyone that is also there. So if you see us, make sure to come up to us. But, you guys, you guys already know, when we get together, we've got to prank them, okay? We've got a whole prank. And by them, we mean Jules and Saad, all right? You know, we always said it in the Marvel household, even though we're not in our house, you are never safe, okay? So today, we came up with this great, or actually, she came up with this great idea of telling Jules and Saad that they are not invited to our freaking wedding. No, no, no, no, not invited. They're standing up in our wedding. You guys know, Julia's my bridesmaid and Saad is Bill's groom's man. We're going to be telling them we don't want them standing up in our wedding anymore.  That's even worse.  I don't even know how I'm going to say it. I don't even know how I'm going to say this, because if you guys don't know this, like, Julia is like my, like, best friend. She is, like, on my list, like, on the top. Like, she's my number one. And, like, I wouldn't want anyone standing up there with me.  I am scared. I'm scared. This is all prank. So, she doesn't know if you're watching. I'm sorry, but we have to. We have not pranked them in, like, a long time. I don't think we pranked them last time we were with them. Thanksgiving? No, and this is such a good idea. I was like, oh my God. She's saying that because it was her idea. Give me some high fives. It was good. Wait a minute. What? Want to show more magic? I'm going downstairs to prank them right now. Okay, hold on. I want to show one more forever bracelets with that. All right. So, me and Mariah got these forever bracelets. If you don't know what that is, they are literally permanent bracelets that don't come off.  Like, okay, Marvel Squad. For example, show me where you unclasp it. Nowhere. Do you want to lie? Because they sawed it. Because they sawed it. Yeah. So, basically, we wake up, sleep, eat, shower, do everything with the bracelet on. They're supposed to last up to five years. Yeah. Which is super dope. But, pretty much, how are we going to tell them? How are we going to tell them?  I got to, like, find a good spot to set up the camera because I want to be able to see both of their reactions. Because I want to say, hey, like, we kind of want to talk to you guys about something. Um, we could say, we realized that we have a way to make people in our wedding party. And they're getting cut. We're going to have to just kick you out. But they can keep our invitation. They're still invited to our wedding, but we're cutting them from standing up in the wedding. That breaks my heart. I don't want to tell them that. Dude, I'm scared. I'm scared. It took a lot just to, like, invite them. Like, it was like... She's so upset. She's going to be like, this is going to, like, I don't mean it all. Baby, I think we just have to do it. Marvel Squad, stay tuned. If you're new to our channel, make sure to hit that subscribe button. Also, everyone, turn on your post notifications so you never miss out on a video. We do notification shout-outs at the end of every video.  Gosh, I'm scared. All right, do you want to go down first? Oh, and by the way, anything that we don't get on camera, like, we should pull out our phones to film. Like, if she stepped on a frame or something. I'm so scared. Mm-mm, mm-mm, mm-mm. Can I have this image? Rip it in. What is it? I'm going to drink. Okay, looks good. But it, like, got, like, watered down the face a lot. With, like, eyes? It's just... No, because you know how, like, ever something in the new one, you have to put water in it. Yeah, like, in the red stuff, you have to put water in it. So... What are you, bud? I'm never nervous, but this particular thing is I'm nervous about why. Because it's not a good one. Well, no, it's not that it's bad, but... But it really is not a good one. And it's not, like, it's, like, a bad...  You mean a mistake on it? No, okay, so we need to talk, because we need to talk together, because it's regarding our wedding and stuff. You're canceling it? No, we're not canceling our wedding now. No. But... We were looking through our, like... Wait, you want to say it? Speak out! Speak out! It's hard for me, because it's not easy, it's not easy for me to do. What? So say it! Okay, okay, fine. So, we realized we had way too many, like, bridesmaids and groomsmen.  Yeah, because there's just, like, a lot. Like, she has, like, seven, right? Yeah. Post all your sisters, and I have six.  Okay, I guess. Like... Like, but you'll be sitting with us. No, but you'll be sitting with us. You might know all it is. You'll be sitting with us, like, in the audience. It's just, like, not standing up like that. Too many people, like, you're still, like... Just the pictures and stuff. Like, it's just too wide. So, like, we can't fit everyone in, so we wanted to make it smaller. So, we're just gonna cut you guys. I know, I did not want to do it. I mean, I'm okay. It's your wedding. I mean, I can't tell you what to do or not. But... I mean, that's sad, but... But you just, her dress, are you thinking? No, I... Came in and stuff. You probably will return it, right? Wait, you can return it? You can return it. Yeah. I don't know.   Yeah, I get it. It's your... Yeah. What are you feeling? Can I be honest? Yeah, you can be honest.  Like, you're gonna, like, be, like, my bride's me. I know. I just realized, like, it's, like, it's okay. Like, it's obviously, like, it's your wedding. So, I want... We don't want to make this kind of thing happen. It's not our wedding. Yeah, it's not. It's not our thing. Sorry I understand. Can you know how much, like, you know, we love you guys? It's just, like, we didn't want to make you... Yeah.  I love you guys. I'm just sad that everyone could be meant to you. I mean, I'll still be there. I know. Yeah, I'll still be there, though. I don't know.  I just... It's just too many people. I'm sad. Are you gonna be my bride? I'm really still gonna be there. I know. I know. It just... I just know that, like, Anna's in it. Is Maralda's in it. Megan's in it. I know. I just am. No, no, no. Like, I get it. At the end of the day, like, I'm just happy that I'm gonna be there to see you guys get married. Seriously. Like, I just don't know what's wrong. My heart hurts. No, it's okay. No, I... What are we supposed to... Yeah, I know. I love you guys. It's not, like... I mean, it'd be different if you guys were, like, thought that we did something wrong. And then you're like, no, no. I don't watch it at all. But, like, the... I understand, like, if there's two of us. There's two of you people, or, like, for... Yeah. That's different. If it was, like, intentionally, like, we don't want you guys in it, because, like... Well, it's kind of that too. What? What? No, no, we were going back and forth. What are you saying? We were going back and forth into a wedding. But we still want you guys in the wedding. What do you mean? What do you mean? Why don't we want to see you? Wait, what? I don't know. We still want to see you. No, do you not want us in the wedding? Dude, no.  No, no, no, no. But, Mariah said you didn't even want us in it. It was, like, intentionally, like, we don't want you guys in it, because, like... Well, it's kind of that too. What? What? No, no. Let me know. We don't want to be in it. That's fine. No. She's lying. She's lying. That was no, no, no. We do want you in it. That would be real bad. You said, because the wedding... What are you going on about? No, no, no. That would be nothing. We're not eating either, I guess. We're not eating either. I can't sure if I want it. What? Say it.    How about us to eat, too? No, we're not eating at your wedding?  That's fine. That's totally fine. I know, but I just don't really care to have you guys stand out there. All right, stop! Stop! Hey, I'm going to stop. I can't do this. You're being me now. No, actually, I can't do this anymore. You're being me now. I'm just joking. Yeah. Don't make me do it. I want to stop, but, like, I'm just joking. Stop, because I was literally about to just go to the bathroom and follow my eyes and help. Oh, my gosh.  No, no, no, no. It's just a prank, Julia. I'm sorry. I'm sorry. Inside. Yes, you do. Talk about, no, we don't want you in the wedding at all. You guys know she's like my number one best friend, like, I don't know. You're totally joking. Like, no, because she started talking about, oh, yeah, we don't even want you in the wedding at all. So I was literally about to... That was on plan. No, we're gonna eat.  For free. No, I don't care about that. I don't know. I don't know. I don't know about the wedding anymore. Don't get kidding. So I've been like this. I know. Like, and you've been talking about it. I don't really know about weddings. Well, that's what I mean. This first time talking about a wedding years ago. I was happy to be like, yeah. I'm not like... Yeah, yeah, yeah. It's different, yeah. I can probably pull a text from 2020 and where I'd be like, I'm making her number one. Yeah, I remember. Literally like, yeah, for years. Why? Yeah. Oh my God, my heart. No. Honestly, it was not supposed to be part of the video about like her saying that you're not like... She just kept it going. She was making it as worse as she could. She was making it. She was cheering up for you before. So I'm like, okay, maybe she's fine. Maybe I can try. Yeah. Yeah. Let me really dig deep this time. It was a panic smile. Totally a joking. Y'all are still in our wedding and you don't have to pay for your plate and all that. It's so much and we've never called you guys out. That would be the last case scenario. I might as well cancel my wedding at that point. Mama's going, I actually feel bad. Like I didn't want to make you like tear up, right? No, it's okay.  To be honest though, you did get me and saw the other day. I guess there's a little payback for that, Julia. It worked out the way it worked out. That's all I can say. They're part of our wedding and we're not going to kick them out. Yeah, they're still, they're still gone. They're on their way. My dress is really cute. Yeah, it is cute. And she was like, no, you were the first one that... It does what I need. Yeah. I hopped off that before anyone. She ordered that before we even had the wedding plans made. No, she really did. She said send me the location and date. I'll be there. She was, she was. Mama's gone. I hope you guys enjoyed this video. Thank you, Jules and Salad, for being our subjects. Yeah. We appreciate you guys. Before we end the video, we have to give our post notifications shout out and that one goes to Cookies Understore Cream on our recent video. We are moving to LA. Thank you so much for commenting on that and having your post notifications on. Make sure to give this video a huge thumbs up and... We'll see you in the next one. But until then, peace. Love you guys.


Jesus is the and because of that hope is rising in your life and in the earth welcome to hope today we're so glad that you're with us I'm Anna and I'm here with Cindy and Cory and Cory you've got the guest today what are we in for I do we're in for a wonderful conversation today listen 2023 marks an important year for Israel as it celebrates its 75th anniversary of becoming a nation coming up in just a moment we're going to have a conversation with Dr. Jeffrey Johnson who is the founder and president of Israel today ministries and he's going to be sharing about the significance of this anniversary plus he's going to be offering some meaningful insight into the complexity of Old Testament and New Testament scriptures and how important the link between the two actually is listen this is a very powerful conversation for the fact that a lot of people are very confused between Old and New Testament and when you really don't understand the typology when I say typology that the Old Testament is a foreshadow of what Jesus is going to happen what's gonna what takes place I didn't know that for years and when I began to understand I began to say God was really present in all of this when I thought it was just isolated stories and scriptures so that's something in said you've been talking about covenant tell us a little bit about what God I think like what I love when we have this conversation about the Old Testament I'll be honest I spent a lot of time in the Old Testament more than a New Testament but it's all about the covenants of God and so we have to understand as believers as the ecclesia about the covenant that God has with us and that through Jesus that we are called the bride and you know speaking of like June is a month of we talk about weddings and covenants and all these things I think it is so important in the season that we have a deeper understanding of our faith deeper understanding of what the scriptures tell and foretell about Jesus because it just when it hits your spirit in such a new way and you have a deeper revelation of what God has been doing from the beginning in the end is that you so eloquently spoke at the beginning of the show I think it is now the time in the season for us to have a deeper understanding of who we are in Christ so that we know our identity and we can truly flourish in him yeah that's right I mean it's so cool to think about that God Jesus and the Holy Spirit have always been and so when we read in Genesis about the creation of the world Jesus was there and the the story of Jesus runs all throughout scripture and see God knew and all his omnipotence that humans would fall and that we would need a redeemer a savior and so from the beginning he knew that Jesus would come and die to save you and me like God seriously he's got every detail in the palm of his hands and because of that we have nothing to fear because we serve a victorious God you know that's that's so powerful what you're saying there because if you don't understand in scripture exactly what Jesus did like from the fall from the beginning when we were in you know in the garden right and then you go to the the fall and then you're in the Old Testament and there's all those stories and then Jesus comes with that new covenant if you don't understand that you get stuck in Old Testament law and what happens with a lot of people is they don't understand the forgiving power of God the grace of God and the need of the Holy Spirit and so people are going to be beaten up on themselves over and over so this is some things I want to get into today when we get into this theological conversation because we got to get deep we have to take the time to get away from the emotions of it and really get into the real and grafted word of God so our next guest is the founder and president of Israel Today Ministries which has provided over 218,000 meals to those in Israel who needed the most children Holocaust survivors and families Dr. Jeffrey Johnson is also an author and in his new book Hope Rising Messianic Promise he fuses together Old Testament and New Testament scriptures and shares the importance of how the two intersect with each other. Dr. Jeff welcome to Hope Today. Well it's a delight to be with you Corey. Listen it is an honor to have you today just going through the book and being able to talk to you about some of these deep deep focuses here. We'd love to get into this. Can you tell us what inspired you first of all to not only write the book but what inspired you to get into your studies in general? Just talk about you and who you are. Oh my well thank you for asking a great question. I came to faith was 18 years old under the ministry of a Jewish evangelist in fact by the name of Hyman Appleman and my mother was Jewish. My father was Swedish and I always tell people if you want to know what a Jewish Viking looks like that would be me. But the motivational impetus behind this book is principally because of there's still in this post pandemic world there is still an incredible amount of anxiety and fear and anger all you have to do is drive down the road you know and so that was the impetus behind this and we have received emails and snail mails phone calls saying how this book has encouraged believers who are dealing still with a great deal of anxiety. So that's the reason for the book and what greater hope than messianic promise the Messiah that's our hope lies in is in Jesus Yeshua on the Jeff Jesus the Messiah. You know what you just said a real powerful word right there when you said anxiety and that's something that so many are dealing with today right. So when it comes to scripture what is the anxiety. Can you identify that and then and then share with us how this understanding of clarity helps to destroy that anxiety. Oh my great question. Okay in the book chapter for example on Psalm 91 and the Psalmist writes that we do not have to hear the arrow that flies by day. And he's not talking about a literal arrow. What he's talking about is demonic force. And Paul echoes that you remember when Paul wrote this on the last day's perilous times will Well the word perilous means implied demonically fears. And in the old estimate the first covenant that cannot or the Hebrew Bible. You know David or Moses who wrote Psalm 91 there's a debate on who it doesn't matter but it's there. He says listen when the bad thing happens what people would do they would run to the temple if they were near the temple they would run to the temple to get behind the walls to get as close to the Shekinah glory that hovered over the Ark of the Covenant behind the Holy of the curtain the Holy of Holies and they try to get as close to the presence of God as they possibly could. And when the enemy came when the plague came when that bad thing came or began to happen. And Paul again dresses that he says listen believer your body is the temple of the Holy Spirit the Ruach HaKodesh the Holy Spirit. We no longer when the bad thing happens when that fear that bump in the night that frightens us we don't have to run to a place to get behind the wall. All we have to do is reach up and say Lord help and he does and it speaks to what Isaiah said that the Lord said he would take you by the right hand. Walk with you as it were. He says do not fear I will help you. Oh it's a powerful powerful reality. So so it's from it's written in the Tanakh and in the New Testament of the New Testament all throughout scripture here God is saying I will help you. You don't have to fear the night. Let me tell you something you are ministering right now. What you are saying you know my head goes back and forth I try not to shout too much but that's the Pentecostal in me but let me tell you that is so encouraging especially when dealing with the understanding of how we approach the Old Testament and then when Jesus came and we had the Holy Spirit the receiving of the Holy Spirit that we are that new temple. You actually said something and I want to quote this you said that you really don't like to refer to it as the Old and New Testament but more so the first and second covenant. Can you explain what you mean by that? Yes sir the the word old implies irrelevance you know it's it's no longer relevant and there was a man and a little bit of church history there in the second century there was this guy a shipbuilder a Turkish shipbuilder named Marcion and he became very popular he had a lot of money a lot of influence and he tried to eradicate the Jewish connection of the the ecclesia the church the assembly that the Lord established and unfortunately he was deemed a heretic unfortunately that teaching has trickled down 2000 years today it's called replacement theology where all the blessings and promises you find in the Old Testament applying to Abraham and all of that now simply applied to the church and in Israel is insignificant it's a teaching today that unfortunately is popular so we it's not old there's nothing old about it it's the first covenant the New Testament is the second covenant that was revealed to us and the old and the new go hand in hand for example you mentioned creation when God created man he blew into his nostrils the breath of life he became a living soul he and you read in in Genesis there where it says we are created in his image both male and female we are created in his image that breath of life the rabbi say was a kiss from God and if you read the song of songs which is a fascinating study and and so forth when you know when you read the bible you get that aha moment you know how you read it a hundred times all of a sudden it made sense to you God kissed you okay that's the idea so God kissed Adam as the word uh breathed into his nostrils of breath of life we are created in his image that means you and I have significant and Psalm 40 verse 17 says that I am poor needy and yet God thinks about me you know how on your iPhone you have pictures of your children your loved ones your grandkids whatever it is on your iPhone if God had an iPhone your picture would be on his phone he thinks about you he cares for you you are important to him and all you got to do is reach up and say Lord I need you and he shows up he's always there but all you got to do is say help and he will wow what you were saying is so healing to so many people specifically believers because I know for me one thing that I had struggled with was this I have to earn it this this transactional relationship with God where oh you know I know he's forgiven me but I don't think he likes me right you know I'm not always doing the right thing so you know those other ones who who fast and they pray all the time you know they have more favor and it's just really not true and Proverbs 4 and 7 says wisdom is the principle thing in all that getting get understanding because the enemy is always trying to confuse us so there is a scripture I want you to elaborate on we're gonna pull that scripture up now and I'm gonna read that that's from Isaiah chapter 41 verse 13 new king James version it says for I the Lord your God will hold your right hand saying to you fear not I will help you Dr. Jeff can you can you elaborate on this understanding oh man you know when I when you read that verse I my mind immediately goes to Peter walking out of the boat on the water to meet the Lord do you remember that story the Lord's walking on the water and and all the disciples in the boat they're like frightened it's a ghost do what you know what are we going to do Peter had the hutzpah the guts to go Lord if that's you let me come from you and so he goes out he walks on the water and in the waves are all around him but he's walking on the water and and he sank so would I I mean wouldn't that freak you out though all the waves he's walking on the water and what you hear in the sermons is oh ye of little faith you know okay now as a grandparent you know uh you tell your grandkids don't stick the thing in the socket you know uh you know on the wall you know the plug on the wall and of course they do and they get zapped and you go now I told you not to do that and I and you hug them and you love them you're okay that is what oh ye of little faith means but what we don't hear now this is the awesome parkour what we don't hear about now the Lord reached out his hand just like the prophet Isaiah said hold Peter up on the water what you don't hear in the sermons is this that Peter and Jesus walked on the water to get back into the boat and you know and I know there was a conversation there it's not recorded for us but I would have loved to have heard what the Lord said to Peter but he walked back on the water to get back in the boat the Lord says I got you Peter I got you and you mentioned earlier about not feeling worthy and you're trying to Lord you know listen there are days we do this better I don't know about you there are days I do this better and there are days I oh man you know you would not be proud but you know what's beautiful Lamentations 3 says that when the sun comes up in the morning his grace and mercies are renewed do you remember as a kid you're playing hide and seek or something and it didn't go your way and you say let's have a do over let's have a do over you know what's beautiful about the Lord when you have a day that you don't do it so well you get to have a do over tomorrow morning when the sun comes up and his mercies are renewed and you pray Lord help me to do it better today help me to follow you better today that is grace that is mercy oh my I get excited about that you're talking about being a Pentecostal man I'm going to shout here too you know what I'm saying you know it's you know God loves us so much and I don't know how much time we have but if I can share one more thing yeah sure and also please tell us about your organization and how it's been helping as well oh okay and yes and that's that's the the reason I do all these things right the books speaking churches and colleges universities and all of that is to bring an awareness to the hearers that Israel a country of nine million people has 1.1 million of their children living in poverty Chamon Perez spoke to that in 2015 but not many leaders come forward with that 1.1 million children living in poverty in poverty and about one in three Holocaust survivors living in Israel are also living in poverty that comes to around 50 000 or so so we provide meals and educational material for specifically for the children to have them to learn to read write and so forth Bible related material and so the Lord has enabled us to provide well over 200 000 meals and in Israel this earns you the right to speak because I always ask why do you do this and we're able to share why and in a loving very gentle way to share the story of Mashiach and it works for it works so this is what we do at the end of the day this is why I get up in the morning this is my passion to feed those children and to feed the Holocaust survivors wow that is so powerful I just I feel the presence of God really in this conversation with truth and sharing and I feel that kindness you said you're a grandfather as well so I can feel that grandfather kindness that you have as well can you elaborate about the 75th anniversary for Israel and talk about that a little bit oh my goodness Israel's nothing less than a miracle when you realize that for 2400 years Jewish people have been scattered throughout the whole world and the the first covenant the Tanakh the Hebrew Bible the prophets say one day that Israel will come back will be restored and it's a progressive restoration the land promise to them goes from Egypt to the Euphrates up to Lebanon down to the southern part of Israel they don't have all the land yet but in the 1890s a guy by the name of Theodor Herzl said we need a land and he began the first Jewish Congress as it were in Basel Switzerland but since that time World War I World War II the Holocaust 1947 the UN says we're going to draw boundaries 1948 Israel became a nation listen it's unprecedented in human history after 2400 years of people that were scattered all around the world have gone back to the place they started and that is a miracle and Yeshua said Jesus said you know when you see these things happen but the redemption is near wow that is so incredible the the understanding the history the scripture the relevance what you are doing is healing people and healing a nation by bringing truth because you know the enemy he's always trying to create so much confusion by really rearranging scripture and taking pieces out of it that people may not understand and I love even in your book how you expound on the breakdown of the Hebrew and the Greek to really understand the original context of scripture and what God was really saying we know the term lost in translation and that can easily happen Dr. Jeff thank you so much for joining us today it was just a wonderful time talking with you you're doing great ministry and I pray pray God's special blessings over you your family and everything that you're doing for the kingdom well thank you so much Corey Corey Anna Anna Sydney what a delight to be with you guys this morning Shalom blessings upon you as well my friend thank you blessings upon you as well thank you wow what an amazing time we have with Dr. Jeff hey stick around we're gonna have some ministry after this break your cornerstone television t-shirt where'd you get it I am so glad that you asked you know this is an exclusive offer for the month of June for you to receive this one-of-a-kind ctvn t-shirt you can support and support your favorite Christian television network this summer when you go to barbecues hanging out with family and having tons of fun oh man that is so much fun and speaking of cornerstone television I love their programming especially that hope today show yes we love hope today in all of the programs and you know with your best gift request your cornerstone television network t-shirt when you give this month we have sizes from extra small to six XL it is a hundred percent cotton it is quality and we want you to have this on you today that's right we have one for everyone and you get to represent the station you love with your own logo t-shirt you'll enjoy this wearable reminder that hope happens here as together we spread the love of Jesus every day you know we cannot do it without you when you give you help us to impact Pittsburgh and beyond reaching those of all nations and generations because we know people need to know the hope and the love of Jesus like never before so why don't you give us a call at<PHONE_NUMBER> and request your very own cornerstone tv t-shirt that's right you can also give online at ctvn.org slash donate we would love to see you out in public somewhere wearing this t-shirt maybe we'll have ours on too thanks for supporting us we truly do appreciate your support because it enables us to have powerful conversations like we just had with Dr. Jeff and you know one thing Cory and Anna that is just sitting in my spirit I know we were talking about the covenant you know he's saying that you know instead of calling the old test and the new test and it's like it's two it's covenant one and covenant two and I just think about how much he loves us and one thing that Dr. Jeff said that even hearing about in the beginning of Genesis and I don't know about you all but some I feel like there's time after time I just keep going back to the beginning and when you study and you read in Genesis I just feel like the more you study and you read the Hebrew words it just blows up in your spirit but what he talked about in the beginning when that that breath that he breathed into us and I believe the Hebrew what is Neshama that was a kiss who just think about that that in the beginning like God is kissing upon all of us that's how much he loves us like his stamp his mark it's all on us and sometimes he just sit in that revelation Anna and it is just it's like breathtaking I'm just at a loss for words of just thinking about how much he loves us what he's done for us it's amazing Yeah this year I just the prayer of my heart is that each one of us would get a deeper revelation of who our God is who our Jesus is who our Holy Spirit is and how we truly have nothing to fear because of how great God's love is for us and because of how great he is today if you're struggling with anxiety or fear think about that scripture where God speaks and he says fear not I've heard a said that he says fear not like over 350 times in the Bible because there's that many days in the year so every day we need to hear that that he is calling us to rise up to know that we are protected in him that we are rooted in him hidden in him and he has gone before us he is behind us he is all around us and he is clearing the way when there seems to be no way and he will bring his work and his purposes to completion Cory Wow and that is so healing especially to know you know that scripture is really romantic you know some people say oh the book of the songs of Solomon you know that's where the romance is but scripture is really romantic it's a love story about a love that God had for us an intimacy a closeness and then evil gets in between and then his wonderful love is lost in the world and he's searching for us and reaching for us and then he gets into man's likeness he gets into a suit like us he puts it on he gets born he raises up he lives an entire life and then he saves us he takes it all upon himself when many of us feel incredibly guilty and many of us are guilty for the things that we have done God says no I'm going to take all of that on to me and I'm going to let you go I'm going to let you be free that is such love and I know there may be many of you right now who are beating up on yourself about the things that you've done and you don't think that you're worthy of the love of God and that is the trap of the enemy but scripture what it does is it really says no you don't know how much he really does love you it's a ferocious fervent love for you and just receive that love today if you have to watch this again go ahead on the YouTube watch it again let it minister to you because God's love for you is so strong Sid I feel God bubbling inside of you I do I feel it I do so one thing I'm just going to ask because the Holy Spirit has prompted this in my heart and I just like know if Dr. Jeff is still with us and just can we pull him up on the screen to do just like pray us out in Hebrew if he can or just say a prayer so Dr. Jeff can you pray us out we have 30 seconds just pray us out for the show today Sure Father we thank you for this time bless the listeners that watch this speak to their hearts draw them close to you thank you for the gift of life thank you for the hope that rises in our heart because of Shioch bless each one thank you for the gift of life and as always for the gift of eternal life in your name in your shoe how much Shioch we pray Amen we love you have a great day On Tomorrow's Hope Today spreading hope and music as a testament to the glory power and love of God piano artist Kim Dierdorf shares his miraculous story of lifting music an inspirational message that God has a plan and purpose for everyone don't miss Tomorrow's Hope Today Cornerstone Television wishes to thank all our faithful viewers whose consistent prayers and financial support have made this program possible