Ja, det är klart. Ja, det är klart. Ja, det är klart. Okej, han pratar efter mig så jag ska be henne också. Så han får sig innan sin. Så ska jag be den tredje och komma in. Ja, please give it to Mark. Ja. Okej, I need somebody to help me organize the mic thing. Johan agenda. Once Mark is finished, will he have the hands? They are going to have it, but right now we are going to give it to Mark. Where are they also? Johan can give it to you. So I lost Johan to give it to you. No, no, no, that's not true. Johan needs to give it to Hans. Johan needs to give it to Mark. Ja. Okej, we're going to get going. Thank you all for coming. My name is Karina Arquette. I'm a researcher at Stockholm Environment Institute. And I'm also the project coordinator for the bonus return project. So what I'm going to do is I'm going to keep my words very, very short. Because today is about our finalists. Less so about us in the project. So bonus return is a three year project financed by bonus. It started 2017 and it's going to be running until 2020. So I'm not going to give you the whole story of the very boring description of work and the 25 deliverables and tasks and deadlines. What I'm going to tell you is my attempt of an elevator pitch. And this is a real challenge as a researcher. Because our pitches are about two day conferences. So now I'm going to give you my pitch in two sentences. What is bonus return doing? In contrast to traditional research that very often explores a question for the sake of research. Because you're interested or curious about research. Our research departs from a demand or a needs based approach. Where several years of previous research and previous projects for bonus and non bonus have led to how we formulated our questions and to understand what we think should be done at this point. So our approach is demand based and our aim is to produce evidence that identifies policy, policy enablerers or policy barriers. Our aim is also to bring together stakeholders, to together produce whatever is going to be produced in the project and to find sustainable, acceptable and feasible solutions. But also explore the technical and the financial means of implementation. So our project goes the whole sort of way from research to policy recommendations to we will attempt to implement or bring things as close to implementation as possible. But also explore what's not really traditionally within the research boundaries which is financial issues, policy issues. So we're getting outside of our comfort zone. And for this we need to work together with very many stakeholders that we usually don't work together with. So part of this, this part of the project that we will be talking about today is addressing specifically that. How can we do this? How can we work together to get some action going? We've got lots of research. We know what the problem is. We actually also know some solutions. But why is it happening at so slow pace? We see some improvement but we're way beyond what needs to be done. And despite our very apocalyptic name of return we are aware we're not going to save the Baltic Sea with a three year project but we would like to contribute as much and beyond traditional research does. So this part of the project has called for innovations. To engage with the private sector, to apply for research, to be part of our research and come up with fresh new ideas that might be very good but somehow are not being financed and somehow they are not being implemented. So this is the pitch that we used in our innovation competition. Do you have an innovation with the potential to reuse nutrients and carbon in the Baltic Sea? Are you eager to improve your innovation adapted to local markets in the Baltic Sea and meet with potential investors and clients? We got very, very interesting applications. Today we're going to present the four finalists from this innovation competition. These innovations fulfill the criteria that we outline in the competition. They address the issue of nutrient and or carbon reuse. So we are looking into recycling not just capturing. It can be applied in the Baltic Sea. There are interventions, either chemical, physical or biological interventions that are designed to minimize harm and to provide services of value to society. And they are also prototype of the technology where it is level scale five or higher. What we're going to do with these fantastic innovations is they're going to work with us throughout the rest of the project. They're going to be tested in our three test sites in Poland, in Sweden and in Finland. And our fantastic partners in the consortium that you find on the left side from the Baltic Sea region will provide their different areas of expertise to bring these innovations as close to pre-commercialization as possible. We have the four finalists today. Carbon next from Sweden, Rabita from Finland, Teranova from Germany and Aquacare from the Netherlands that will be introduced in a little while. But before that, I would actually like to give the word to somebody who has meant a lot for Stockholm Environment Institute. As some of you might know, Johan Schillensjärna. Before he leaves us, I really had to grab him to give us some of the last words of wisdom on how we can do this. How can we save the Baltic Sea, Johan? Thank you. I will give you the answer. No, thank you very much Karina. Give her an applause, first of all. It's really great to be here. As Karina I say, I'm stepping down after six years as the executive director at SEI. You have some of the favorite projects, I shouldn't say that normally, but I should still mention that bonus return is probably one of my favorites because it's really at the center of combining innovation, science, technology with policy. It's just what SEI is all about and also for many of the partners we have there. It's really interesting for us to follow this program moving forward. We know that there are a lot of challenges in the Baltic Sea region. We have spent tremendous resources trying to address these challenges over the last decades. We have been successful in many places, but as we can hear on this conference and many other conferences, it's just not enough. We could also hear from this morning the urge or the need for combining different competences, getting different actors together, talking to each other and working much more closely together. This is what Baltic Return is very much about. What I really like is also the mindset that you have in Baltic Return. The fact that you are looking at challenges, but you try to turn them into opportunities. How can we actually move forward by focusing on the opportunities? I think this links very well to the shift we have also at the global level. My argument is that this is exactly what happened between the Copenhagen climate negotiations and the Paris negotiations. The fact that we managed to shift from in Copenhagen talking about the burden sharing of the transition because this was really the focus in Copenhagen. You don't engage people if you talk about burden sharing. Let's come together and talk about how we should share the burdens. Instead, what happened in Paris is that we talked about how do we reap the benefits of the transition. How does it generate new businesses? How does it generate development in many different ways? That is what happened, I think, at the global level why we managed to get the Paris Agreement with the push also from communities, from local municipalities, from the business sector. It's not just about governments. This is, again, a very good example of how bonus return is thinking. This region is extraordinary. It's a very innovative region. Carina gave me some information before here, pointing out, for instance, that the Bloomberg Innovation Index, four out of the ten top countries are actually from this region, Sweden, Finland, Denmark and Germany. There is an explosion of environmental technologies. There is a strong research base. There is so much more now about getting these together. With the science, with the markets, with innovation to solve the challenges that we see in the Baltic Sea. There are many barriers, as you say, Carina. There are financial, legal, but also behavioral barriers, mindset barriers. We have conflict in policies within countries, between countries in the region. There are sector boundaries to overcome when you look at innovations. Energy should be combined with agriculture, with water, with whatever. I mean, there are so many different sector boundaries to also deal with. So the bonus return, what I really like, is the fact that it is about bridging sustainability challenges, the sort of system challenges and innovation and entrepreneurship, and build this on the science that we have. The science is really a facilitator for this process, and I think it is in itself a very interesting role for science in the broader sense. We can see this more and more, science as a facilitator in pushing societal changes. I think that what is also critical, and you helped me again there, Carina, you sent me some notes about the thinking you have, and I think that it is important to make a point from my perspective why I also believe this is so interesting. This is about bringing together environmental goals, we have them and we have set them, and innovation, this is what we talked about, innovation policies, but it is also about demonstrating that this can generate economic development and job creation. That is actually really linking very well into the social dimensions of sustainability that we have had a tendency to underestimate when we are looking at transition. That is a much stronger driver to really get into those dimensions and I think that many of the examples we have here and that we will discuss today and hear more about, they are at that interface between the different dimensions of sustainability. Bringing together researchers, innovators, decision making, municipalities and businesses, it is clearly the way forward also when we address challenges in the Baltic Sea region. As I said, I am really pleased to see bonus return really now starting up this project and I am actually very optimistic about the future for the Baltic Sea region as well. Thank you very much for allowing me to be here. Thank you Johan. We do know that Johan is an optimist, so we hope you are right. There is no alternative. I would like to invite the finalists up here to the panel to join us here. These are the four fantastic finalists from Germany, Netherlands, Finland and Sweden. Again, I am not going to take time with introductions. I think the best introduction is the one that you yourself will do. I would like to invite you, Jordi Saldén. I was about to say Saldén, but you are Dutch. I am Dutch, yes, you are right. Please come over here and tell us about aquacare. I will. Thank you Karina for inviting me here on stage. I see it is already ready. I thank you all for giving me the opportunity to share with you what aquacare can do to end eutrophication and I will show you what our system is like and how we do that. My name is Joris Saldén. I am responsible for a company called Aquacare based in the Netherlands. Originally and still doing is a water treatment company for already 30 years with main business or operations in the Netherlands, Belgium and the United Arabian Emirates. We have a team of 26 very hard working people. In that team we are currently investing in research especially in phosphorus removal and recovery. Our journey on this innovation began approximately three years ago with searching for materials that are able to absorb phosphorus from water streams. We did a lot of lab testing and ways to find out how we can get the phosphorus out of water and then again recover the absorbent. Last year we were awarded by a foundation called the George Barley Foundation with the first prize and the prize is for the best idea to bring eutrophication to an end in a very big lake in Florida which is called Lake Okejobi. At this moment we are rewarded by two Dutch water boards with a letter of intense to start pilot testing to make an end to eutrophication by absorbing phosphorus and then recover the phosphorus again from water as a fertilizer. As I'm speaking now we are testing a pilot in Ontario cold water conditions just like let's say it also can be here in Stockholm or Scandinavia where we are challenged to bring our system to life and to clean up water totally from phosphorus and to make a fertilizer from the recovered phosphorus. So what's our system like? Imagine a river and a lake here in the front. We put a small building there and I gave you an insight of an installation we already built with an adsorption installation that is regenerable and the regenerative fluid can be recovered. So in a scheme it looks like this, very simple. We have in fact three main processes. The first process, the big one is to absorb phosphorus in water. That's not so special. But then the adsorbent gets completely full and we are able to regenerate that adsorbent easily. And then you have a fluid, a regeneration fluid that contains phosphorus which could be waste and that's not the ID. And we separate then the phosphorus from the regeneration fluid and that's what really is the main part.  And if that's not enough of too low, you can always mix it up a little bit so you have still some life in water. The nice thing is that it's very easy to scale up. You only need to add more large, influent adsorbent facilities. And I got here a picture of quite a similar installation that exists in the Netherlands with approximately 3500 to 600 cubic meters per hour. It takes out a different kind of nutrient but it is possible. And if we do it well, then we clean up rivers and lakes and you get some great sea life again. So far we have proven that the technology works and we can get as low as less than 3 ppb in water. We have a patent pending on separating phosphorus from the regeneration liquid. And we are currently at the technical readiness level 7 which means that we are already working in a real market situation, small scale. And we are able to successfully reuse the regeneration fluid that regenerates the adsorbent. So the great advantage of the system is in fact three things. One is very simple. So three main processes, it's scalable from very small to very large. And easy to design. Second thing that is eco-friendly. It consumes very low energy. It has a very small footprint and it is environmental friendly. So besides the concentrated phosphorus there is no chemical leakage to the environment or other waste streams. And when possible we have recovered products of phosphorus that maybe could fertiliser in the future. We don't know yet. Opportunities, the challenges for us is that we are trying to enter a new market. So I am looking forward for people or businesses or companies who wants to put a real life pilot test, small scale, where you have a need. And we are trying to commercially find out if it's commercially feasible to recover phosphorus. As you know you see here that phosphorus ore costs only a dollar a kilo and as a product recovered it costs around 64 recalculated. So that's quite a lot. But what we have now is a unification problem and what you all want is to end that. And I'm sure that we can bridge that and fill the gap with our system. So for the future please get to me in contact if you want to try a pilot system in Scandinavia, Sweden or Latvia and Iceland. We will be happy to discuss how we can do that. What we still need to do is prove the benefits of the concentrated phosphorus liquid. So how it can be used and what we don't know or maybe a good side effect is that it can also take micro pollutants out of the water. But we don't know yet because we don't know what's in it. But it stops everything. So that's what I want to share with you. And this is what aqued care can do. So make an end to eutrophication by taking out phosphorus from large water streams. That's my story. Thank you. Thank you. Stay here for two minutes. In case there's any questions from the audience we have a few minutes over there. Let me get to you the... Four. Good question. No, not that we know of, no. Well, I explained already. So absorbing phosphorus has not been done on this scale yet. There are many materials that have characteristics to be able to do that. But then the separation at the end of the regeneration fluid. There is the trick and that's a breakthrough. You're right. Good question. So let's say we cannot calculate the profitability of making an end to eutrophication. Yesterday saw in a presentation that it cost around 2 billion a year economically. So somewhere let's say the cost of this must come out of the cost of that economic problems for eutrophication. And about the reuse of the liquid phosphorus. That's only an extra but it's not currently not feasible from an economical perspective. I think they do need the mic. I just have a question. Can you only work on water streams? Or can you work on lakes? Do you need to work on the rivers with your technology? The challenge we are running now in the US. So the goal is to treat the river to that ends in the lake. And that it will clean up Lake Okeechobe in years. But of course you can try to minimise or to draw up the phosphorus from the lake itself. You can do that. My question was similar actually. It looks like you are addressing point source phosphorus emissions rather than diffuse source phosphorus. Which is probably the diffuse sources also a sort of leading reason for eutrophication. I did not understand. The diffuse sources from agriculture for example where it's very difficult to sort of... True. Have you thought about using the technology or ways of using the technology within the diffuse context? We are thinking about that one but currently it's very... Let's say we also need to focus on something and let's say... In the Netherlands where we have a field on the ground is a wastewater treatment plant for a community. And we are trying to polish the effluent. So it is quite a good way to treat it. But for lakes currently so where all streams come water streams flow into the lake. That would be more difficult. We have one more question over here. Is there only dissolved phosphorus in the water? Soluble. Dissolved. You can't catch the organic bound phosphorus. I talked about this this morning with rice. So the particulate phosphorus you need to filter that out. But that process that is quite known not that very difficult I think to take out particulate phosphorus. But how do you catch the dissolved phosphorus if you are not filtering the water? I could show you some extra pictures of filters but that would not impress you. So you are right. First take out the particle and then the dissolved one. Thank you for your questions. The installation in Canada has first filtration and then absorption. Juris will be available like the rest of the finalists at the end of the session for a quick mingling. So that you can just go around and ask more questions. They can explain a little bit more in detail how things work. Thank you. Thank you so much. Our next finalist is Mark Butler from Teranova in Germany. Thank you Mark. Thank you Karina. Would you change? Thank you very much Karina for the introduction and I'm glad to be here to present our technology. I would like to talk about two exciting products. One product is coal but this is not just regular coal. It is a climate friendly coal because the coal is made from renewable biomass. So it contributes to the storage of renewable energy which is an increasing importantly a topic in the renewable energy sector. The second product I would like to talk about is phosphorus. We heard phosphorus around two days now. Phosphorus is a scarce resource and it's vital to humankind. And it will run out in about 100 years. And the special thing about that phosphorus here is that it is recycled phosphorus. So by recycling phosphorus we save the natural resources. The common thing about both of these products is that we use one same waste input to produce it. And the waste input is sewage sludge. So what is sewage sludge? Sewage sludge is a site product from wastewater treatment. And it bears basically three big problems. The first problem is that it is polluted. It is polluted with contaminants from the wastewater stream. And this is basically heavy metals, organic pollutants like pharmaceutical residues but also bacteria and so on. The second problem with sewage sludge is that it contains around 80% of water. Which means there is a big mass that has to be disposed. And incinerating sewage sludge as a disposal path requires a lot of energy. And the third probably most important problem right now is that it is expensive to dispose. In Germany alone, Germany spends around 4 billion Swedish grounds every year for the disposal of sewage sludge. But we offer a solution to that. We use that sewage sludge to produce these two products here. So we take the sewage sludge, we run it through our system which we call Terra Nova Ultra and we gain two products. Renewable coal to protect the climate change to generate renewable energy and phosphorus. Now this is not just an academic idea. We already have a first reference project in Asia. And the next movie shows you some impression about that installation. Installation is on a wastewater treatment plant in a city called Gening which is 600 km south of Beijing. This shows just the silo, the sludge silo where we get the input sewage sludge tree. We take the sewage sludge and push it into our system. Which is at elevated temperatures of around 180 degrees and 25 bars of pressure. So we completely break out the sewage sludge into its components. We follow now the way of the sludge into the so-called carbonization reactor. This is where the conversion from the sewage sludge into the coal takes place. We have implemented a quite sophisticated heat recovery system to reach very low specific energy consumption. Some of course is fully automated. It is remote control. Even what you will see now is how we extract the water from the sewage sludge. As I said 80% of sewage sludge is water and this is where we take it out. After the process we can easily take out the excess water from the sewage sludge. And the final product is the coal, the climate friendly coal which falls out of that filter plant. That coal is now used in a power plant in Gening to generate electricity and heat for district heating. So the overall advantages here is first of all that we reduce the amount of sewage sludge by 75%. We recover the energy from the sewage sludge that is embedded in the biomass. We can recover the phosphorus. And we save costs for wastewater treatment. Our technology was awarded with several quite renowned innovation awards. One of them in 2015 we were awarded innovation of the year of the German economy which is the first innovation award worldwide. So what we would like to do now with the help of you is to implement a next reference project in Northern Europe. After China we would like to have a reference here in Europe. So what we would like to have is find municipalities that are interested in solving their disposal problem. And I think the nice thing about it is that this is even profitable because the municipality will save disposal costs in the future and by that contribute to a large extent to an economically friendly solution. So that's the end of my presentation. Here are my contacts and I'm happy to have a discussion later on. Thank you very much for your attendance. Thank you Mark. Before you go I already see hands. So you are first Johan and I'll go after Johan with the rest. Thanks, really interesting. Can I ask you a quick question? You said you were looking now for a project in Northern Europe. You have tested it in China. Why did that happen? I mean it's a German innovation. It's tested in China. Is it because we are locked into all technologies in Europe and it's difficult to shift? Is that the main problem? I think China, let's say, especially in Germany, German municipalities are quite reluctant applying new technologies. And that's totally the opposite in Asia. Specifically in China they always want to have the newest technology available. And of course in China there are lots of investments being done right now into solving the sludge disposal problem. Whereas in Germany or let's say in Central Europe all municipalities have somehow their specific solution to get rid of the switch slide. It might not be very energy sufficient. It might not be resource orientated, but they have a solution somehow. So that makes it difficult really to develop projects in Europe or more difficult than in Asia. So that would be the answer. Of course we have a pilot plant in Germany where we develop the technology. We are now building a pilot plant for the phosphorus recovery as well. And in the future we hopefully with the help of the bonus return project we would also like to introduce recovery of nitrogen. Which also is easy to implement based on our technology. Question about the residual heavy metals. So where are they and what stream and what do you do with them? Thank you very much for that question because it's extremely important. As I said there are heavy metals in the switch slides we cannot fade them away. So they will remain in the coal and this is where they have to be because that coal goes into cement kilns or large power plants which have the technology to absorb the heavy metals and to collect them. Which means the phosphorus product that we recover is free of heavy metals. Ja, I just have a question about the climate friendly coal. A question about the climate friendly coal. If it goes into power plants would it emit carbon emissions or is it different to other coal? No, no, it's similar like wood if you burn wood. Of course burning wood causes CO2 emissions but this is the same amount as it extracted from the CO2 cycle a couple of years ago and that's exactly here the same thing. It is a renewable biomass that we use which such is a renewable source so the overall net effect is zero. Okay, so other questions please As with the rest of the participants I would invite you to go around at the end of the presentations and ask further questions. Our next participant is not coming so far away from here Sweden, carbon next Hans Selber. Yes, clicker. There we go. Hi, my name is Hans Selber. I'm a professor of business administration at the Stockholm School of Economics where I study market development and change but that's not why I'm here. I'm here as a partner of carbon next which is a startup which is based in Uppsala that is developing a negative emission technology for producing carbon and hydrogen. Of course my knowledge about market creation and market dynamics also comes in handy here because our innovation will require us to reshape some of the existing markets around biogas. So what's our innovation then? Essentially it's to harvest carbon that is currently in atmospheric circulation and use that to restore the terrestrial carbon cycle. Our starting point is biogas. The production of biogas currently is geared towards either combined heat and power plants or is being upgraded and used to fuel vehicles. What we're doing is trying to develop an alternative route for biogas which it can help improve soil quality it can reduce emissions from agriculture, forestry wastewater treatment and in doing so it will also simultaneously reduce the CO2 that is currently in atmospheric circulation. The net technology as such is we call it carbon X pace. It's a scalable technique for extracting nano carbon structures out of upgraded biogas and in extracting that carbon we also get hydrogen as a side product. So let's see, I should click. There we go. So specifically we're focusing now on developing carbon structures that can be used to improve agricultural soils or be used as filter materials in wastewater treatment. And these nano carbon structures even show potential to accelerate the digestion of solid waste in wastewater plants thus leading to increased biogas production in those plants. You may have heard of biochar which is typically produced from wood using pyrolysis. You can think about our carbons as customized biochars that have been harvested from biogas. So pace is short for plasma assisted carbon extraction and it's a reactor technology that is currently in use for other purposes but our route of using it for soil improvement is new. We've recently conducted a series of initial lab tests with a French research partner that shows that we can extract or harvest solid carbon structures from biomethane or upgraded biogas but we have yet to verify the exact characteristics and performance of those structures. A major drawback of ordinary biochar which is used to treat soils is that the quality of the biochar is dependent on the raw materials you use to produce it. Well the advantage of pace is that we can tailor the recipe for a specific carbon and then we can produce large batches of exactly that carbon quality or carbon structure. So we can develop particular signatures that can be used for specific purposes. In the slide you can also see some key figures about the production process. So under optimal conditions processing a ton of biomethane or upgraded biogas will produce 750 kilos of carbon, 250 kilos of hydrogen and at the same time reduce the CO2 in circulation by 2.8 tons. So this means that a modern medium-sized biogas plant like Eudbadia in Skåne would produce 7000 tons of carbon and 2300 tons of hydrogen each year and at the same time reduce CO2 in circulation by 26000 tons. So how could carbon next be of use in the Baltic context? Well first of all our technology will be able to harvest substantial amounts of carbon from circulation. Moreover since this is a net technology that draws on the stock of carbon in circulation we will produce or continue to reduce the level of CO2 even if we were to reach a zero emission scenario. The ability to control what carbon structures we produce also allows us to tailor them to specific purposes. So in the context of the Baltic which is the area of expertise of one of my partners in the company we believe that our carbon structures can produce the following ecosystem services. They can help lock nutrients and improve water retention in treated soils. They can absorb pesticide residues heavy metals by being applied to either in the landscape or at point sources. They can increase microbial life and carbon sequestration in the treated soils and they can increase water buffering capacity in wetlands so to reduce nutrient emission during intense precipitation episodes. And finally, I think this is important our innovation will contribute to increased climate positive energy security for the Baltic region by developing new areas or new uses, new applications for biogas increasing its versatility. With our technology biogas producers can choose to produce climate neutral biogas under periods of high energy demand and then switch to climate positive carbon and hydrogen when energy demand is lower. So where do we go from here? Well we see both opportunities and the need for cooperation with other actors in order to take our innovation further. So first of all this should be of interest to biogas producers municipal or privately owned we know from our analysis of the German biogas sector that they are of course struggling now finding new business opportunities in the face of radically decreasing subsidies. We also know that other biogas producers in the Baltic region find their competitive situation problematic due to differences between national subsidy schemes. And then if we look at the farmer's side where we intend to apply our carbon structures carbon, let me put it this way there's a lot of business opportunity here just a moderate 10% reduction in fertiliser cost for a crop farmer would translate into 100% increased profitability so the potential of applying these carbon structures into the soil are really really good. Finally let me see so I don't miss anything what we're doing right now we just received a grant from to do a technical pre-study for a pilot plant and we're of course looking for a partner to engage in that project with us. So over the course of the next year or so we will be looking into the technical specification of a first plant using this technology and would be very interested in finding a partner for that. Thank you very much and I'm happy to take some questions. Thank you so much Hans. Are there any questions for Hans if you have any additional presentation? You can always approach him after this round of presentations. Thank you so much and there you are. Mari Hejnonen from Ravita. Let me fix your presentation. Nice to see you all here and I'm proud to present our Ravita innovation. I'm Mari Hejnonen from Helsinki Region Environmental Services and actually I'm working as a director of Waste for the Treatment Plants in Helsinki Metropolitan Area so I have a total different background and I'm not presenting this as a company I'm presenting this innovation as a municipal utility so I have a bit different focus on this innovation and business models for the future. The fact is that the present technologies which are available for nutrient recovery and especially for phosphorus recovery they are not available for everybody. They are not available for example in that sense what we are thinking as a large Waste for the Treatment Plants in Nordic countries. We cannot do phosphorus recovery because we are not doing for a biological phosphorus removal in Nordic countries and on the other hand we are not burning the sludge which is the other path for phosphorus recovery from the ashes. And then of course one issue what we already discussed in a previous presentation is the price. At the moment, a phosphorus price is extremely high and you cannot really compete in an open market with a virgin type of fertilizers with a recovered one. We started to think that we should somehow shake this idea where the phosphorus is going to the sludge and then we have a mixture of organic materials and heavy metals and phosphorus. We should do something else and think out of the box and we had this ravita innovation and it actually spin off from our phosphorus removal project. And it's the idea where we recover phosphorus directly from the wastewater. And here you can see the idea of sorry the idea of ravita is to recover phosphorus after the normal waste for the treatment plant and normally we are doing a lot of things inside of the waste for the treatment plant and try to put everything to the sludge and in this innovation we let phosphorus go through the treatment plant and it's in the very end when the water is already clean there is no organic material we are doing phosphorus precipitation and we are creating chemical sludge which is very rich of phosphorus and very low amount of for example heavy metals practically none and then after that start to process that chemical sludge and we will end up to phosphoric acid and that's the key issue we want to create a product which has a wide market potential not only fertilizer industry but other industries also for example pulp and paper industry even food industry in your Coca-Cola you drink actually phosphoric acid on it and then the other thing we want to have this internal circle for precipitation chemical we do not want to use virgin materials anymore in the future so this is one of the innovation inside of the project of course we are producing still pyosludge but there is a minimum amount of phosphorus on it you can do biochar or something else you can think more freely when you are not having the phosphorus let's say traditional stream and this can be also combined with nitrogen removal and recovery recovery of nitrogen is mainly based on stripping and this phosphoric acid can be used as a washing chemical in a stripping process and in that case we are producing ammonium phosphate which is a fertilizer ready for the market and why I am here I am here because in the future we have to of course work still on this demo plant the TR level of our innovation is at the moment between five and six so we have to continue and I would like to of course discuss with other municipalities other colleagues is there something we should fix and rethink or is there some limitations we cannot see or then on the other hand with other business let's say units for example I have a good experience about the ecosystem thinking in Finland we have for example cooperation with pulp and paper industry, UPM battery recycled battery technologies which are using phosphoric acid so I want to think also out of the box in that scale so not only fertilizers which is of course important part of the phosphoric acid end users but also other technologies other businesses so these are the things I am interested in to meet here and Ravita is also part of the government key projects in Finland so there are three technologies nominated as a key projects based on our ministry of environment and Ravita is one of those so it's also followed by ministerial level thank you are there any questions for Mari you said that this was a kind of this project was generated from the waste water sector actually is there what about Ravita as a company is owned by our waste water treatment by so there is no specific organization at the moment no I have a similar question as before to our colleague from Germany this technology and this process that you describe is it easy to apply to existing systems or does it require a lot of separate investments what you need if you do not have a polishing system already that's possible that you already have it and actually you are already producing this you need this pox which means precipitation unit and also the separation where you take out this chemicals you can easily use this based on the need if you do not need to do that good quality of the effluent water you take what you need and this means that you can use this process also as a harvesting unit and this can be if you think globally the problem of phosphoric lack in the future we have to think harvesting not something size stream so this gives a possibility also for harvesting so you can adjust it but it needs investment if you do not have a polishing system thank you Marie so our next speaker is from race for the Baltic Marc is going to talk about his accelerator program this is a concrete way for you to potentially engage in the Baltic sea region but beyond the bonus return projects so Marc please come up here thank you technical help this is a collaborative project it looks great here but just a little bit since I know we are in a very tight time schedule I'll try and get started just by first of all congratulating the finalists I think it's quite unique to have this question brought up a competition around this and then to see the geographical spread it was a northern European competition that went out and then to see that RISE and SEI in this project actually we are able to attract both the interest from so many and then make selections that represent such a spread in terms of where the finalists have come from so there will be a prize after this as well but you and the others that have participated in this competition we are very interested at race for the Baltic which is the organization I represent here today feel that these kind of platforms and competitions raising awareness about the possibilities to address the issues of the Baltic sea in an innovative way like this is very exciting and I think collaborating with bonus return on this is a benefit for us and I'd like to at some point maybe see a few slides to help illustrate or talk about this with you apologies for that maybe just as a start I wonder if I can see it here but if it goes over to the other screen for some reason do we have internet connectivity or you know it can we try and connect my computer I just know the timing sure let's do that that's okay so Mons I'm gonna put you on the spot so he's a really funny guy so he'll do good I'm not gonna be funny here this is serious business so my name is Mons Lund I work for RISE and here in the bonus return project I work specifically with tests and the test bed and such so I'm supposed to present what you will win so what you will win is that we will help you and perform tests tailor made and tests can be in test beds external internal where we might find them suitable and try to match the product to the local needs that's the Baltic region so together with you of course and obtain tailor made procurement and business plans and sustainability plans so it ticks the boxes of a good sustainable practice and then it's of course a lot of networking and there's links with the private sector investors of course you want to reach out to those who potentially will buy your stuff and then yeah and in that introduce the product to the potential markets so that's basically what you'll get sure we'll have a good cooperation in doing that and I'm finished thank you does anybody have any questions about the price any performance any songs you want to sing so now we got it going there we go already the Baltic city accelerator is an initiative of Race for the Baltic we've been collaborating with bonus return on this project as you can see here one of our aims is to connect innovators with municipalities and investors I understand some of the projects were maybe not just for the municipality side but in the projects we've been working we've had a effort to bring the cities and the municipalities together with the investment community but also with innovators and solution providers such as yourselves as a foundation we're focusing on a number of programs to restore the health of the Baltic sea what we do is we convene key players from a range of sectors and catalyze and support initiatives collaborate across the entire Baltic sea region we're transboundary in our approach key to our vision is to change and frame the challenges of the Baltic sea as an opportunity for a clean environment and a more prosperous region for all and by this we look at cities, businesses, investors government, investors and citizens partially this comes of course from one of our main backers and initiative and founders of the organization Niklas Sönström who is an experienced entrepreneur and encourages us and also the way we encourage others is to see these challenges as an opportunity to look for solutions to them to act as agents if you will to bring and pool the proper resources and knowledge together to support the development of ideas and innovations around these key challenges and issues and to connect the region and accelerate the solutions as I mentioned to begin with our flagship program that we ran until the end of June 2017 over 18 months was with 12 cities around the Baltic sea who worked together worked with us, worked with investors worked with solution providers to look at the challenges they have in this case specifically with eutrophication and look at ways to approach these but with an investment lens to see what are the socio-economic benefits of addressing these questions so it's not an environmental cost to clean up but it's also an investment business case that they could develop around these we worked to accelerate the commitment of the leadership which is key but also to work with them on the local level to see if there were other initiatives that already were taking place that they could work with together to develop a Baltic sea action plan on the local level drawing on what the plan is that Helcom has set forth as well but to bring that to a local level to reduce the nutrient flows and create this business strategic approach getting a little bit to Johan's point too how can we see the opportunities here how can we change the framework for approaching these issues and then of course accelerating solutions to address them we have in this program a Baltic sea solutions accelerator which matches cities with solution providers and brings in together with partners from both science which of course is very important in addressing environmental challenges bringing the science community in as well with the investors and the solution providers to look at what are the challenges the cities are facing to look for innovative ways and methods to address this and I'll get back to some of the hurdles that we had in the program but it also becomes a way for us forward to look at how we can accelerate solutions that are coming out particularly in this case for eutrophication so in the process there's a matching process as well it's also collectively collaboratively identifying the problems and the solutions together looking for ways to develop very firm and simple next steps that can be taken oftentimes the challenge being rather complex and large leads to the issues maybe being over ambitious and you have to take it step by step create the small wins that they can also attract the next stage of confidence for funding going forward as well a piece that we feel is not that is rather important is not just involving the private sector in it to do these projects with an eye towards can we scale can we share and learn from other projects that have been done before we know there are a lot of very interesting products that have been achieved but they're oftentimes very isolated maybe done in a more of a research environment as opposed to an investor or or business perspective we heard some of that on the stage before as well in the large room there are programs, projects out there but are they being done on a level that could be scaled or are they being done with a business perspective in mind timing wise I'm going to just pop through a couple of those slides there and give some of the observations we had in the city accelerator program when working with solution providers, the cities and also the investment community and I think these are, this is the part here which there are no easy solutions to but I think if we're aware of where the barriers lie or where the hurdles still are we can work together collaboratively to iron them out what we heard and what we saw from some of the solution providers in the accelerator program was that they come in with innovation, entrepreneurial drive, interest in making a change looking at possibility to create new profitable ways of dealing with environmental challenges but they meet a slow moving market at least in the Baltic Sea region and it could be because you have legacy systems that you've already invested in that you're still trying to optimize but get the last of the life cycle out of or there's no real need or pressure to change or bring in some of these more efficient technologies so there's sometimes that frustration and it's key to these kind of platforms is to find those municipalities that are ready to move both because they want to make a difference or to adopt new technologies but also because they have to and part of the work we've been doing is to give them these tools to see that there can be benefits in moving a little faster in this direction it's also hard we've seen for solution providers once you get to a certain technical readiness level to approach the market for a pilot to find that match to find a potential customer who's willing to take that step together in the first hand and then the presentation is fantastic today nowhere however did I see what it would cost to do one of these at that stage where perhaps those weren't included in the presentations for other reasons but those are the questions you're going to find and it's that commercializing the innovation and how to bring it in and finding the business models that are going to work in a public private situation that is key and it's identifying those and figuring those out at the stage where you don't have all the variables for your excel sheet that is a challenge and that's why you need these pilot projects very early on the cities and municipalities and I'm happy to see some of them here today as well the economic cost of environmental cleanup is still seen as a cost and so programs that can show and point to the other benefits that can be achieved through addressing these issues are key we worked with cities on that as well and then when you get those tradeoffs in place you of course see the opportunity to make investments or take these stages in a completely different light and then we have to recognize when you're dealing with these issues and elected officials is there's a tendency and it's somewhat of a paradox to want to play it safe you want to be seen as an innovative community you want to be a leader but you can't have a headline the next day or come election time that shows that that investment wasn't a safe one whether it's an IT systems or environmental systems or new technologies or a safe tendency to want to play it safe and I think that to find ways to allow innovation to come into municipal procurement whether it's through green or innovation or other pieces is key and that requires also the municipalities are willing to work on that but also sometimes on a national level to encourage and stimulate that they're getting the ideas of circular economy we're seeing it's there but of course there's still some hesitancy to step too fast and then the piece that Alexander was bringing into the picture as well the money is there and I think everyone would say well it's very hard to get at sometimes the application processes can be challenging for municipalities that either don't have the resources or the experience with it and the projects that the investors are trying to get involved involved in or invest in might not have that investor readiness or that perspective that they're used to doing so there's a new language that's being formed here between the environmental or the innovators and the investors for that that's needed and to bridge that is dialogue that takes time and I think platforms or projects such as bonus return if you bring in the idea these are business opportunities that we want to see scale and you understand that even at the very small level you're doing that with an eye towards scale and the fact that this is a situation just the municipality where I'm now working or the farmer I'm now working with but more then you're going to have an opportunity to attract different investment levels and also from the investment side they're looking at ways to package their financing structures in a way that makes it easier for smaller projects to come in as well we invite them and we invite you as well to participate in programs such as ours where we bring the investors, the projects the municipalities if you will as potential customers but also and I think this is mentioned here as well these are new technologies that sometimes will come in on the backs of other technologies and so it's working together with the wastewater treatment plant that's already established or biogas reactor that's already in place and then finding those ways to make their model more efficient and make the work for the municipality also better we see this as a sea of opportunity we welcome all that are interested to join us as we work with cities and solutions on accelerating them this came up also yesterday with reference to the Helcom meeting in Brussels there are benefits to be had you can see it from a negative side there are losses by what we're doing but of course there are huge economic benefits as well and we welcome the finalists to join us as we proceed with our next round of the accelerator program we will continue to work with platforms and projects such as bonus return where we can see possibilities to bring together the multi sectoral approach that's required from this and congratulations again on being finalists in this program and thank you again for a chance to work with you at bonus return thank you so much Mark so we've come to the end of our of the presentations and now it's time for you to stay and drink coffee we brought the coffee here and leave the room we hope you can go around and ask questions to the participants or to us to the project you have suggestions ideas you are very welcome to share them with us I'm just wondering how many of you have the money in the pockets because we went to a session where they said they had lots of it that they were just ready to invest and I was thinking that's great they're gonna come to my session but I think for us we hear this but we don't see them and so do you have any ideas on how to get them to come to this session or what format they want to the situation pain glass or a coffee style or a lunch please come to me and tell me your secret how to attract that money that is so broadly available and I close my presentation because I want to leave you my our contact details before we leave and I want also to ask you want to come and help me out the technology that's not the one technology is not working with us today hopefully this technology is so you can get my card and hopefully you don't lose it afterwards as I do but I would like to call each one of you to come up here Joris Saldén from AquaCare thank you so much for participating I got other instructions ok thank you Mark Batman from Terra Nova in Germany sorry I moved Hans Kjellberg from Carbon X I'm Marie Heinonen from Ravita in Finland great thank you so much this was very excruciating with the pictures I'm very happy to be relieved from the stage please approach our finalist they all have a table each corner of the room just attack them please thank you so much for being here


الحمد لله رب العالمين له الحمد الحسن والثناء الجميل وأشهد أن لا إله إلا الله وحده لا شريك له يقول الحق وهو يهدي السبيل وأشهد أن سيدنا ونبينا محمد صلى الله عليه وعلى آله وأصحابه والتابعين لهم بإحسان إلى يوم الدين أما بعد عقيدة means what the creed and the belief of a Muslim and today's class insha'Allah وإتعالى we're going to start with the evidence for Allah's existence does Allah exist many of you guys have asked me this question we spoke about it الأدلة على وجود الله the evidence the proofs that Allah سبحانه وإتعالى He exists to me generally I don't like this concept where you have to prove Allah's existence because Allah's existence is self-evident it doesn't need no evidence but it's out of formality insha'Allah وإتعالى that we will go through this insha'Allah وإتعالى الأدلة على وجود رب the way that we're going to go through it is we're going to be using classical text قرآن سنة the Quran and the سنة سنة is the what the hadiths of the Prophet ﷺ leave the questions to the end we leave the questions to what to the end insha'Allah وإتعالى وقد دل على وجود ربي Allah's existence the evidence for it is four things that I mentioned here one, two, three and four these four are what we're going to prove Allah exists number one is الفطرة what does the fitrah mean it means the natural the natural disposition فطرة is the natural disposition the second one is Allah's existence the evidence for it is the intellect any rational individual who uses his mind will see Allah's existence number three الشرع the Islamic legislation proves Allah's existence and the fourth one is empirical evidence الحس empirical evidence and we will bring each one to evidence insha'Allah وإتعالى we're going to bring proofs for it أما دلالة الفطرة as for the fitrah the natural disposition we're going to mention two verses and one hadith the first verse is الله سبحانه وتعالى he said فطرة الله التي فطرة الناس عليها لا تبدين لخلق الله ذلك الدين القيم ولكن أكثر الناس لا يعلمون فطرة الله he placed in every one of us a natural disposition التي فطرة الناس عليها which Allah placed in the people لا تبدين لن تبدين nothing can change لخلق الله's creation ذلك الدين القيم that is the upright religion ولكن أكثر الناس but the overwhelming majority of the people لا يعلمون they don't know also Allah said in another آية وإذا أخذ ربك when your Lord took from you من بني آدمة from the children of Adam من ظهورهم from their backs الله took us out of the back of Nabilah Adam من ظهورهم ذريتهم Nabilah Adam Allah took everyone out of Adam and he brought us out and then Allah said to us all من ظريتهم وأشهدهم على أنفسهم ألا ستب ربكم الله said am I not your Lord to everyone all of us ألا ستب ربكم قالوا بلا everyone said yes of course بلا means what of course شهيدنا أن تقول يوم القيامة إننا كنا عن هذا غافلين أو تقول إنما أشرك آباءنا من قبل وكننا به ذرية من بعدهم فتولكن بما فعل المرطلون وكذلك نفصل ولا عليهم يرجعون so what did we all say what did we all say when Allah asked us this question ألا ستب ربكم am I not your Lord what did we say we all said of course we all said بلا the prophet صلى الله عليه وسلم قال رسول الله صلى الله عليه وسلم the messenger said مام المولود there is no buried he is born there is no individual who is born إلا يولد على الفطرة except that he is born upon the natural disposition فأبواه his two parents you have with Danny they make him a Jew أو يُنصرانه or they make him a Christian أو يُمجسانه or they make him a fire worshiper but the hadith did not say أو يُسلمانه they make him a Muslim because every child is born upon Islam every child is a Muslim because that is the natural disposition that is the what? that is the natural disposition if an atheism is a parasite upon upon Islam upon theism we have the Haq okay بخاري and Muslim both narrated that so the default is that theism believing in Allah's existence is what was already there and atheism came after الله الله doesn't need to be proven he is self evident anyone who claims otherwise needs to bring proofs and evidence أما دلالة العقل على وجود الله تبارك وتعالى now we are going to use rational evidence that prove Allah's existence عقل الله said in the Quran so here I said والاستدلال بها على طرق كثير بحسب تنوع الآيات الله's existence rationally there are many ways we could prove that but the two most famous the two most well known approaches is دلالة العفوص and دلالة العفاق دلالة العفوص and دلالة العفاق what does دلالة العفوص mean? you are an evidence that Allah exists you are an evidence that Allah exists and that's what Allah said in the ayah وفي أنفسكم أفلاة تبصيرون وفي أنفسكم in yourselves أفلاة تبصيرون do you not see you are an evidence that Allah exists that's called دلالة العفوص every individual is an evidence that Allah exists the second way is دلالة العفوص the second way is دلالة العفاق the universal signs are what what are they they are evidence that Allah exists that's why Allah said سنرهم آياتنا في الأفاق وفي أنفسهم حتى يتبين لهم yeah أنفسكم جزاك الله خيرا الله says سنرهم آياتنا في الأفاق وفي أنفسكم حتى يتبين لهم أنه الحق حتى يتبين له حتى يتبين لهم أنه الحق الله said سنرهم we will show them آياتنا our universal signs في الأفاق yeah what did I say it's anphysium صح I was I wrote anphysicum so I was wrote originally yeah سنرهم we will show them آياتنا our signs في الأفاق in the universal signs وفي أنفسهم and in them we will show them the universal signs the universal signs حتى يتبين until it becomes clear to them أنه الحق that Allah is the truth that He does exist there was two men that sat down two men sat down and they started to talk to one another everyone listen to the story two men sat down and they started to talk to one another one said to the other if only it was written in the sky لا إله إلا الله محمد الرسول الله if it was written in the sky then everyone would believe and it would be easy to prove Allah exists because it's written on the sky that's what one of the men said the other man replied and he said to him that's a very good idea it's a very good idea لا إله إلا الله محمد الرسول الله and write it on the sky so everyone can see it that is a good idea he said but he said what language do you want it to be written in what language do you want it to be written in the man went quiet because even if we say in English English itself has standards what type of language within the English do you want the eloquent form of English what type of English do you want and then in the subcontinent there's so many languages that are spoke and then in Arabic there is many different dialects that are used so what language would you want when the man couldn't respond he said how about if I tell you that Allah has written already in every one of us لا إله إلا الله محمد الرسول الله that he's already carved in us and that's when he used the ayah سنريهم آياتنا في الأفاق وفي أنفسهم حتى يتبين لهم حتى يتبين لهم أنه الحق it's already written inside us it's already there and that is the concept of the fitrah I didn't read that part yet أنه الحق أو لم يكفي بربك أنه على كل شيء شهيد now we're gonna go we've done the fitrah and we've done the العقل now we're gonna do الشرع عن الحس أما دلالة الشرع على وجود على وجود الله تبارك وتعالم now we're gonna look at the evidences in the sharia to prove Allah's existence سبحانه سبحانه وتعالم الله says ألاله الخلق والأمر تبارك الله رب العالمين الله تبارك وتعالى says ألاله الخلق is it not for Allah الخلق creating والأمر and the commanding is it not for him تبارك اقزالت is your تبارك اقزالت is what الله is exalted رب العالمين the Lord of the universe here we wanna ponder ألاله الخلق is the creating نقف الله is it not the one who creates the answer is what بلا of course أو الله you are the only one who creates you're the only one who creates الله سبحانه وتعالى here اليمام أحمد رحمه الله he took from this ayah that the Quran is not created that the Quran is not is not created because the Quran is the speech of Allah and the speech of Allah is not created وإناحد من المشيكين استجارك فأجيره حتى يسمع حتى يسمع كلام الله ثم أبلغه ثم أبلغه مأمنة إمام أحمد said الله distinguish between الخلق والأمر الخلق is what us أن الأمر is the Quran two different things والواو في أصل اللغة تقطض المغايرة and the wow in the original in the original usage of the Arabic language it shows that these two are two separate entities two separate things الخلق is one thing and الأمر is another thing so the Quran is not created that's a side benefit but what we initially wanted from the verse is what الله is the one who created and then even in the Shari'a we see that وقال تعالى الله also said يا أيها الناس oh people عبدو واشب ربكم يولود الذي دوان خلقكم that created you والذين and the ones من قبلكم that came before you he created them لعلكم لكيت التقوى so you can come with تقوى لعلكم يدوى لكيت التقوى so you can come with تقوى and then the evidence that we want to take from the ayah is يا أيها الناس عبدو ربكم الذي خلقكم the one who created you واشب الله alone why are you going to worship him alone for because he created you he's the only one who created you and so you're going to go and you're going to worship one that didn't create you it doesn't make sense it's a logical absurdity the last of the evidence to prove Allah's existence is دلالة الحس دلالة الحس is what empirical evidence what does empirical evidence mean that which we can see that which we can touch على وجود الله تبارك وتعالى in the existence of Allah تبارك وتعالى فمن وجهيني it's from two the his is two ways the empirical evidence is from two ways the first one is نانا نسمع ونشاهد من إجابة الداعين وغوث المقروبين ما يدلوا دلالة تنقاطع على وجوده we hear and we what what do we hear about we hear about and we even see Allah accepting the dua of people do we not see people's dua be accepted yeah Allah accept say dua does people make dua or Allah bring back my eyesight and Allah brings it back for them there are people promise Allah oh Allah if you do this for me I promise you oh Allah I will do this and Allah does it for them this is a sign that there is a creator and these are empirical evidence we can see it how we are going to ignore it and that's what Allah said اذا تستغيثون ربكم فستجاب لكم when you called on to your Lord in need what did he do فستجاب لكم he accepted your supplication he accepted your dua and he gave you what you wanted this was in the battle of that's the battle of better the second way the second form of the empirical evidence is نعيات الانبياء التي تسمى المعجزات ويشاهدها الناس يسمعون بها براهين قاطع على وجودين the signs the miracles that the prophets came with نبي اللهي محمد didn't he come with a miracle he came with many miracles the miracles in which the prophets come with not just نبي اللهي محمد but all of the previous prophets the miracles that they came with is an indication that this is from what that there is a creator because prophets they came with معجزات they didn't come with magic what did they come with miracles معجزات the معجزات is from Allah the magic is from shaitan is from shaitan and that's what Allah said in the ayah فأوحينا إلى موسى أن يضرب عصاك البحرة فانفلق فكان كل فرق كالطوط العظيم الله said فأوحينا إلى موسى we sent down a revelation on نبي الله موسى what did we say to him أن يضرب عصاك hit your stick on the side of the on the sea أن يضرب عصاك البحرة فانفلق and then it split into two the ocean فانفلق فكان كل فرق كالطوط العظيم each one of those water this side and that side what did it become like a big huge mountain big this was a what معجزة it was a معجزة من اندلها عزوة جلأ it came from Allah all of those are evidences to prove Allah's existence that Allah does exist سبحانه وتعالى does everyone understand is what I said crystal clear was my class understood very well anything which I said that was wrong or incorrect it from me a shaitan and Allah and his messenger are free from it سبحانك اللهم بحمدك أشهد الله إلا الله أستغفرك وأتوب إلي


In March of 1945, Admiral Raymond Spruance wrote to his wife that he had mailed her the most important photograph the war has given us to date. It was the Marines raising our flag on Mount Surabachi.  That photo by Joe Rosenthal became one of the most enduring images of World War II. The sculpture by Felix DeWeldon now stands beside Arlington National Cemetery and is one of the most visited memorials in America. Spruance foresight helped create an important cultural touchstone that epitomizes the honor, courage and commitment of the naval services. Lead well this week.


Great welcome everybody back to digital asset news. My name is Robin today We've got a lot of things to go over a lot of exciting things We're gonna the big story that I think is the finance and Voyager I'm gonna walk you through what's going on and what potentially could be and how I believe this makes the most sense We'll also talk about the Cordano Vazel upgrade Which it looks like it's gonna go through and things are going along swimmingly as according to Charles Hoskinson And then we'll talk about what's going on next week because I will not be here unfortunately Let's just jump right into it the first things first I want to say is yesterday now two days ago on the last year I asked this and does anybody really want me to go over the market Because everybody checks their portfolio 20 times a day So what is the point of me going over the market and I'd say 95% of people like don't go to the market We already know exactly what it is only go over it unless it's absolutely relevant. I'm like sure that's it So market recap unless something's relevant. We're not gonna go over it However, today is one of those days. I would like to quickly go over it and this is what we got The thing is is that everybody says the same talking points Which is this is the last opportunity to buy Bitcoin below 40k. This is the last opportunity bill I buy Bitcoin below 30k. This is the last opportunity. You know, I'm gonna say right. Well, guess what? Well, here it is again Bitcoin below 20k. I don't know how many times people said this is the last time It's never the last time. Well at some point Maybe it will be the never but I don't see that coming anytime soon. So again right now We're at 19.9 and for some reason we're still at the one trillion market cap I think we'll probably slide below that. I know there's a there's some rumblings about Mountain Gox But I've been hearing about that for two or three years and no one really knows exactly what's gonna go on Exactly when it's gonna actually be dispersed and exactly when that's actually hit these people's accounts because remember it's actually Bitcoin Bitcoin cash and I want to say cash equivalent So it all really just depends. I'm not even gonna factor that in but if it does happen That's one more thing for it to drop as well. The theorem is down. I mean over seven days. You can see it So what you know exactly happened? Well, it was Jerome Powell and his speech everybody's gonna talk about that day We talked about it Jerome Powell speech yesterday on the DCA show. It was really good show I really love these guys coming on Ben and James and giving some things and the whole thing was What's the prospect of Bitcoin going to 15k James is not a believer. That's okay me and Ben We're like hey could happen. So definitely check it out a link that in the in the description But it really just came out of this stocks took a big dump yesterday because Powell came out and said look I'm not gonna say anything dovish. It's gonna be hawkish and I'm gonna go on the the the Volcker route So just remember this when you think that That we're late along in the game the US stocks lost 1.25 trillion dollars in a day in a day What's the market cap for us? We're barely holding on to a trillion. So when you think like our far along this isn't a big deal Trust me. We are super early and that of course leads me to next points If you're looking for you know, just a little bit of balance one once in my portfolio when something goes down I want another part to go up that could be housing or crypto or our precious metals or whatever else But of course, you know on the show we talk about masher works fractionalized shares of art I got to a Banksy and a basket. I kind of know what they are not really and Since October they've gone up 40% I haven't done anything just buy and hold. Can you say that about your crypto? I know on some of my on most of my crypto actually now. I'm just kidding all of my crypto I can't say that and then of course the performance has been pretty good year-over-year Here's the annualized rate of returns and just so you know masterworks is beating It's traditional stock market and I'm beating crypto beating the pants off crypto hands down over the last year now Of course, we're gonna talk about why invest in crypto in 2012. Okay, you got me, but ever just looking year over year to date Yes, that's what's going on. Why rich people are crazy. This is a Banksy It's all for 1.4 million dollars in the original one now when they shredded it now it's 25.4 million It's an uncorrelated market asset and oh, yeah It is registered with the SEC because it is a security because these are fractionalized shares of fine art You can find all those different information on the masterworks website want to find out more There's a link in the description looks just like this I did a deep dive and then it's up to you. You don't have to use the affiliate link You can go right to masterworks. Whatever you use that affiliate link Helps to support the channel as they're a sponsor of the show and I appreciate them and also you can skip the waiting line So that's that and there's just one last thing before we get to the Binance Voyager story The mvrvz score I know like when people are asking me like Rob, are you still DCing? I am but yet remember like I think we're gonna go lower And that's just me but I want to take a look at like the MV the mvrvz score You can find this on lick into Bitcoin and again, it's it's very simple. You just take a look at this Let me refresh this You just take a look at the mvrvz score when it's in the reddish area Maybe a chance for you to think about selling off selling some not everything. I don't know what you want to do It's up to you. I'm not a financial advisor and when it goes down the green Maybe it's a good idea to accumulate and there's been some pretty rare instances when that happens, you know like 2018 2015 You know 2011 and then of course now over here. So One thing I will note is that if you're into the dynamic DCing What I like about this is that you can just look at this and go well When it goes below negative Maybe that's a chance for me to increase my dollar cost averaging because right now I'm doing about 10 to 25 percent of what I usually dollar cost average because I think that it's gonna go down And if I'm wrong, it's okay I mean it'll go up at some point But if I'm if I'm right and this goes down to zero point two Maybe I increased it to 35 percent and then when it goes on a zero point four Maybe I increased that to 60 more percent or 60 percent of what I what I've done or maybe even 200 percent It's all depends on what you want to do But this is a pretty good marker and just so you know, there's been like dang it three times When it's been below that's a negative part or not negative below negative point four it's been in 2018 and Also 2015 and we still haven't seen that yet. So I did a video about that will be released on Monday But that's what we got for this course. So that's all we have a little TA and everything else in the markets Let's talk about this story finance and Voyager So I Have to preface it with this a lot of things can go wrong with this deal They can back out any moment There's been nothing on the table and they haven't announced anything But there's some key words in here to pay attention to to where I think this is Probably the sanest option for a Voyager. I'm gonna tell you exactly why so Voyager or Binance and FTX are among crypto players and hunt to buy Voyager digital and then Coinbase backs out But that's okay. Coinbase is having its own problems. They're not very they don't have a lot of cash on the side heck they even they even did away with the affiliate prospects for For people so I think they're having a little bit of issues and of course their stock has been circling the drain But they've got good things going on. I'm not hating on Coinbase. I'm just saying there are some companies that are super strong Some that are kind of strong and some that are just kind of making it anyhow Here's what we got Voyager digital tracking people like Binance and FTX Coinbase Value to deal but then withdrew according to presentation the company's lawyers earlier this month at least 22 investors had gone through due diligence and Indicated their interest in bidding for all of Voyager's assets and just so you know They've actually had so many bidders that they've actually increased the time frame It was supposed to be at the end of this month They're supposed to put all the bids in and then decide they pushed it all the way into September 6 And then we will know who actually is the winner at the end of September. So things are heating up I like how things of this are going and I think there's some pretty good people and here's where Binance comes in We have a policy Now pay attention to what this says. This is a Binance spokesperson We have a policy to only disclose deals after they are complete and cannot confirm or deny any potential deals It's very simple, right? If you weren't in the deal you to say we're on the deal Where'd you get the information that makes no sense? But they're like we can't discuss it right now because we're in the process Probably in the process just saying now could they wholeheartedly Win this deal and go down. No, there's a lot of things that have to happen There's a lot of difference in Congruencies that have to be rectified and they have to say does this really make sense to us? I think hopefully it will but we'll see last week Binance CEO Ching Ping Zhao said Voyager as well as Celsius Network Had approached his company to discuss selling assets our teams engaging in all those conversations So that's just that first part just a little snippet of what could potentially be but the thing is this is why I think it's It's a pretty good fit. First of all, there's this There's a metric called CPA cost for acquisition and of course for you to acquire certain customers It's gonna cost money. It doesn't just happen free overnight. There's a reason why at the local strip mall Wherever you're live at certain restaurants do pretty well and certain other ones don't there's another effect There's many a factor, right?  Maybe the service is off or whatever else But it's also marketing getting people in the door and if you can do that it's gonna cost money So if you can sidestep that a little bit and go, you know what our cost of that our cost per acquisition is very high We see what's gonna happen the future. That's why we created Binance We're just gonna take over this company and then just absorb those customers But we have to do it in a certain way I think this is why it's gonna make sense again I could be I could be wrong in this whole deal could fall through but just so you know Binance is far and away The biggest exchange in the world. Okay, just in 24 hours. The volume was 55 billion Volume of everything that went on was 21 percent. Here's the number of trade percent of trade So just so you know, you can find this on nomics. No mix nomics I don't I say it.com I linked in the description so you can verify it You know, just like Rob does made that up, but yeah, and then also If you take a look at just some public data The revenue for 2021 was 20 billion not too bad Binance profit out of that was 900 million in 2020 I don't know what 2021 is. I'm sure it was higher 21 was a monster year Binance users went from 21.5 million to 28.6 not I mean, it's a pretty good number We're looking at 7 million plus, but I mean wouldn't it be nice to absorb just a million at a discount? Why not? Binance peak trading volume 2020 was 35 billion 2021 doubled 76 billion Binance annual crypto exchange volume 2021 1.07 trillion and 2021 they 7 axed it to 7.7 trillion Binance versus competitive crypto volume is far away the biggest one out there And there is a reason why they are one of the few exchanges right now actively hiring employees Because they didn't put their name all over like, you know stadiums and didn't do a bunch of commercials It is like we'll just put to steal a quote From jack and a crack one foot in front of the other and that's exactly what they did So then to keep going on this vein How much does voyage row? Well, there was a snapshot This is from the Voyager committee, which is representing us the retail investor who got Who got rug pulled? Let's be honest as we stuck all our or a good portion Some more than others of their crypto and Voyager and they got shut down for a bit Not bitter Not better It's just how it is. I can there's only some there's only so many things I can control in my life And this is just one of those things that's out of my control. This is what happened and we deal with it. Just show up so Here was the balance sheet snapshot on June 30th and people corrected me So I want to say thank you to everybody who corrected me on this one And this is the assets that they have this is the assets that they have which is the positive part So the total cash and this is in millions 104 million total crypto loan I thought this was an example example 3a see that adding that excludes 3a see excludes 3a see sorry Which means I know what I did this because they're not gonna see anything from 3a see that I think they might see like here's a hundred bucks Sorry about that 500 million dollars are bad But anyhow the total crypto loaned excluding 3a see is 470 million total crypto held 685 million. That's probably gone down because that's in June 30th I mean the crypto held for the value Total crypto held alone 1.2. That's a that's then 1 billion 260 million 3a see loan recovery TBD TBD TBD So the total recoverable assets is that's pretty good 1 billion 260 million. All right Here's the unsecured claims as many customer claims 1.8 For us other unsecured claims. We don't know yet. So 1.8. So we're looking at What 5 5? 500 million in between there's a gap right as a gap And 500 million I'm thinking that Binance could do okay with covering that and going hey, but like all these customers Let's see what we can do 500 million and then there's probably some other ancillary cost of course But I think it's what it's within doable if the revenue was 20 billion So that is that part and the last part I want to talk about is it's not what you know it's who you know And that's a big aspect because see this guy right here. That's brian brooks I don't know if you remember that guy, but he was the us the former us com troll of the currency and He worked for finance us And it's pretty amicable with split when he resigned But he said there was some strategic differences where they wanted to go what they wanted to do And you know where brian went he went to voyager Voyager digital announces brian brooks former acting control of the consulate currency joins the board directors This was on december 20 2021. Man, what a bumpy ride for brian went from finance Was there for I don't know six months and then came over here six months five months and it's on So that is essentially what is going on With that part and the last thing I will say is this Everybody was up in arms when I said this And I said I didn't care But I have to explain why again But maybe I'm wrong. I'm wrong all the time. That's my wife So crypto lender voyager Can pay employees a retention bonus. This was an article five days ago somewhere around there And what they want to do is they want to pay I want to say like 28 29 employees, correct me the comment section Like 1.2 million not a piece, but amongst themselves amongst those individuals and I said these were strategic employees Now if one of those strategic strategic employees is brian brooks Because he knows the people at binance and they have to do that. I said it very clearly If in some way this pushes the sale of voyager through and these people want to be crucially processed and let it happen I do not care about 1.2 million. Yes. I know it's my money and your money and everybody else's Well, let's just get this done and move forward. So that's the case for binance and voyager Let me know what you think about that in the comment section And that's it. So let's move on To some more good news Ah, see this channel is not all about bearishness The nozzle upgrade This is a video that was put out to by charles and just so everybody knows we've already upgraded the dnews stake pool To the latest version. So we have to have 75 percent to get to the nozzle upgrade And we're crossing our fingers hoping that it goes through and they won't find some bugs They found some bugs already as charles talks about in this video But uh, not to be a big deal So I'm just gonna have you listen to charles here. It's about a minute and a half or so Exactly what's going on and uh, you can explain a little bit better than I can because I'm not that guy I'll be honest with you Here you go. That's about a minute and a half is to get the exchanges on board Binance is reporting that they're currently upgrading by volume I think they're about 30 40 percent of the cardano trade volume And uh, others like kraken coin base and so forth tend to fall along Generally, what happens is that after a hard fork date is announced You see a big rush and people push through So what is probably going to occur is that once we hit that golden 30 75 percent of the spos Um in three to five of the major exchanges by volume The top three top five are upgraded or are in the process of upgrading a hard fork date will be set Uh, and uh, then the rest of the exchanges feel the urgency and they start upgrading And it's really hard to get them otherwise. They tend to need a little bit of a push for that So I just wanted to close out the week letting you guys know that things are moving along very quickly Uh extensive testing is still being done by both the community and still by us And a lot of integration work is happening behind the scenes. Uh, so all of that infrastructure is looking good And hopefully we should be able to work with the community to get a hard fork date set soon We're going to have a meeting with the spos here in a little bit And ask them how everything's going on their end And the cf is working very aggressively at starting to push the exchanges to to get to 135 3 so that By liquidity those things look really good. Um, so sometime in september is what it looks like Unless something is discovered or we run into a substantial slowdown somewhere We're not quite over the finish line, but everything looks pretty good That's it.  It takes so much time I don't really care I'm going to be here for the next three five ten years as long as uh, you know health will allow me to be there and um I'm okay with taking a little bit of time because uh, I'm getting tired of all the rug pulls and the hacks and things like that Maybe sometimes we need some adults to do these things Just saying All right. So that is it. Let me just think about that in the comment section and lastly next week is new york everybody and we are taken off tomorrow Tomorrow tomorrow afternoon To go to new york for a bit. We'll be there for the u.s. Open And uh, what happened here? Where'd I go? Ah, there we go for the u.s. Open. So we'll be uh, that we know live streams for Sunday monday tuesday monday thursday and friday, however, I have prerecorded some videos about some different thoughts Especially we're gonna we're gonna delve into where I think the where I think the market is going and uh Of course, I I have a little bit of optimism but a little bearish aspect. I want to talk about some A new portfolio strategy because I agree that bitcoin's the safest one out there But sometimes you got to gamble a little bit and that's just me when I'm doing not to say what you should do And then just some basic stuff. I think everybody should know so look for those Sunday all the way through friday and that is it for today. So look if you like today's video Give it a thumbs up and consider subscribing Sometimes youtube actually does notify people, but that's it for today.  I've been here 20 minutes But if you want to stick around we'll do the q&a and I'll answer all your questions the best my abilities And we will start that right now