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Trump Withdraws U.S. From Iran Nuclear Deal; A Look at How Blockchain Could Work in Everyday Business
Aired May 9, 2018 - 04:00 ET
THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.
CARL AZUZ, CNN 10 ANCHOR: A major change in international policy is the first story we`re explaining right now on CNN 10.
Yesterday, U.S. President Donald Trump announced that America was pulling out of the Iran nuclear deal. The controversial agreement was made in 2015
between the Middle Eastern country of Iran and six other nations led by the U.S. under the Obama administration.
Under the deal, which was officially called the Joint Comprehensive Plan of Action, Iran agreed to limit its nuclear program for 15 years and allow
international inspectors to verify that it wasn`t building nuclear weapons. In exchange, the U.S.-led countries ended their economic sanctions on Iran,
allowing tens of billions of dollars to flow into Iran`s economy. The Obama administration said the deal was the best way to make sure Iran
wouldn`t build a nuclear weapon. Critics said it wouldn`t work, that Iran would eventually build one anyway.
Since he was campaigning for the presidency, Donald Trump has called the Iran agreement a bad deal. Here`s part of what he said yesterday.
(BEGIN VIDEO CLIP)
DONALD TRUMP, PRESIDENT OF THE UNITED STATES: Not only does the deal fail to halt Iran`s nuclear ambitions, but it also fails to address the regime`s
development of ballistic missiles that could deliver nuclear warheads.
Finally, the deal does nothing to constrain Iran`s destabilizing activities, including its support for terrorism.
(END VIDEO CLIP)
AZUZ: Just as the Iran nuclear deal was controversial, so was yesterday`s announcement. Senator Dick Durbin, the second most powerful Democrat in
the Senate said America`s withdrawal from the Iran deal was a historic mistake that destabilizes the Middle East and increases the danger that
Iran will restart its nuclear weapons program.
Senator Lindsey Graham, a Republican, said the original deal made the mistake of assuming Iran would cooperate with the international community
and that Iran has used the money it got to strengthen its military and cause trouble in the Middle East.
International reactions: Israel and Saudi Arabia, who are U.S. allies in the Middle East, said they supported America`s decision to pull out of the
deal. Germany, Britain and France, who are U.S. allies in Europe, said they opposed America`s decision and that they would stay in the deal.
Iranian President Hassan Rouhani said his country would take a few weeks to decide how to respond. He said Iran would stick with its commitments to
the other five countries in the deal, but he also warned that if needed, Iran could resume its nuclear process, quote, without limitations.
After President Trump`s announcement, he signed a memo to put America`s economic sanctions on Iran back in place.
(BEGIN VIDEO CLIP)
AZUZ (voice-over): Ten-second trivia:
From what language do we get the terms pahoehoe and aa, which are types of lava?
Hawaiian, Latin, Indonesian or Portuguese?
Pahoehoe and aa are Hawaiian terms. The volcanic islands see a lot of lava.
(END VIDEO CLIP)
AZUZ: Officials in Hawaii say 35 buildings, including at least 26 homes, have been destroyed in the latest eruption of the Kilauea volcano. New
fissures have formed in the ground, and though volcanic activity in these cracks slow down yesterday, scientists thought it was just a pause and that
the eruption would continue.
Hundreds of people have been evacuated miles to the east of the volcano. Some have been able to go back home to get things like pets, medicine and
important belongings. Others have been warned to stay away as dangerous air and lava flow spread.
Scientists say there`s no way to stop lava. The only they`ve been able to do in the past is to divert it by spraying it with sea water. And because
that just sends it in another direction, it`s not always a good option.
There`s another danger to consider that people can`t always see.
ALLISON CHINCHAR, CNN METEOROLOGIST: Volcanoes often conjure up images of lava and fire. But there`s a lasting impact that`s often ignored called
vog or volcanic smog.
So, what is vog?
Vog is a form of air pollution. It`s made of carbon dioxide, water vapor and sulfur dioxide. That last one being most important. That sulfur
dioxide is released from the volcano and/or fissure vents and it reacts with the atmosphere. And within hours to days, it converts to very fine
particles, which scatters sunlight, causing that visible haze.
Is vog dangerous?
Vog can be dangerous and can damage the environment, humans and animals. It affects humans by damaging the lungs, triggering headaches, watery eyes,
sore throat and even breathing difficulties, even in people who have zero history of respiratory problems.
What should you do if you encounter vog?
It is advised to avoid vog by limiting your time outdoors. Additionally, if it rains and there is vog in the atmosphere, you need to very careful.
Vog can cause something called acid rain. If that does happen, please stay indoors and once again avoid your exposure. In the event you do come in
contact with acid rain, wash it off as soon as possible.
What are the long-term effects of vog?
Depending on the volcano and the location of the vog, it can be present for several weeks, meaning it could spread to more populated cities even
hundreds of miles away.
AZUZ: Blockchain technology is basically a ledger, a list of records created and verified by computers. Once a transaction is made, everyone
can see it. No one can delete or change it, at least in theory.
Critics say it`s possible, though difficult, to hack the blockchain. It`s completed to use. It might not be used widely enough to make an impact and
it could slow down business. But if Blockchain catches on, here are some examples of how it could work.
CLARE SEBASTIAN, CNNMONEY CORRESPONDENT: This is a 45-kilogram yellowfin tuna just caught off the coast of Fiji. It`s given an electronic tag and
then scanned. That data is the first link in the blockchain.
UNIDENTIFIED MALE: The first program model the solution. We`re going to define the process first.
TYLER MULVIHILL, CO-FOUNDER, VIANT: Consider this the actual application.
SEBASTIAN: The project is designed by Tyler Mulvihill, head of a blockchain startup called Viant, a platform that builds custom blockchains
MULVIHILL: The first step is where a fisherman catches the fish, then the regulator approves the fact that this was actually caught in Fiji, for
example. Then, the fisherman can officially land the fish. Then, that`s sent to a processer.
SEBASTIAN: At each stage, the tag is entered into the decent (INAUDIBLE) database, along with information on what is being done to the fish and who
And because data on the blockchain can`t be deleted, you end up with a complete record.
MULVIHILL: Finally, we have a step here where the consumer can look up the bait to plate history.
SEBASTIAN: And why is it better than what we already have with the blockchain?
MULVIHILL: In traditional supply chains, there are many actors with their own versions of the truth. So, they all have their own databases that
contain certain information. So, traceability from what we call bait to plate is basically non-existent now.
SEBASTIAN: Viant is in its testing stages, backed by Consensys, a Brooklyn-based incubator and developer, housing 47 different blockchain
Fitting perhaps that another project here is focused on sharing real estate.
What kind of building is it?
MO SHAIKH, CO-FOUNDER, PANGEA: It`s a multifamily building. There are five units in the building.
SEBASTIAN: Mo Shaikh`s venture known as Pangea is taking this building, currently owned by a private equity firm, and converting its value into
digital tokens that can be traded on the blockchain. He says 304 Troutman Street maybe the first individual building to be digitally owned and traded
SHAIKH: What exists today in terms of getting exposure to real estate assets are private REITs, or real estate investment trusts, or public
REITs. Both of those give you access to a portfolio of assets in the scenario you`re getting access to, you know, one specific asset.
SEBASTIAN: His plan is to help make real estate a more accessible investment.
SHAIKH: If you were to think about how Apple maybe just an IPO, they have to have investment bankers involved, attorneys involved. Here, you can go
direct to the market, kind of peer to peer in a way, and raise capital very quickly.
SEBASTIAN: On his platform, token holders can buy and sell from each other at the click of a button, and they get a cut of the building`s earnings.
In this case, rent.
SHAIKH: Down the road in the future, we can eventually even have people that live or rent in the building, own a piece of the property as well.
And that`s what we get really excited about the possibilities of fractional ownership.
SEBASTIAN: On land and at sea, the beginnings of businesses in blockchain.
Clare Sebastian, CNNMoney, New York.
AZUZ: We saw something like this not too long ago in Africa. This crack in the earth recently opened up on a farm in New Zealand. What was once
smooth pasture land is now scarred by a huge sinkhole. It appeared after a record amount of rainfall and that around 650 feet long, 65 feet wide and
65 feet deep, its volume is the equivalent of four Olympic swimming pools.
Geologists say it shows the volcanic history of the region. But in the present, it`s eroded the integrity of the property. It`s landed a rift in
the farmer`s schedule. It`s cracked up to be grounds for a whole lot more crusty work that can`t be fenced in without a sinking feeling, at least
until things get terra firmed up.
I`m Carl Azuz, cracking puns on CNN 10.