Ibn Maghreb on Nostr: Muslim crypto building needs to be anti-compliant with GAE financial regulation - ...
Muslim crypto building needs to be anti-compliant with GAE financial regulation - otherwise its basically a L2 for USD which has short term gain but long term pain.
Stablecoins are planned GAE cryptocolonialism for expansion of UST markets via central providers like Tether that offer short term gain for dilapidated postcolonial Muslim currencies but do not generate a new network effect at the monetary layer because it still relies on USD.
Still subject to unilateral seizure, censorship, shutdown etc - not to mention it offers the illusion of sovereignty when the political economy of the chain is still dependent on GAE primacy.
Stablecoins are planned GAE cryptocolonialism for expansion of UST markets via central providers like Tether that offer short term gain for dilapidated postcolonial Muslim currencies but do not generate a new network effect at the monetary layer because it still relies on USD.
Still subject to unilateral seizure, censorship, shutdown etc - not to mention it offers the illusion of sovereignty when the political economy of the chain is still dependent on GAE primacy.