Trump's 'Board of Peace' Explores Stablecoin For Gaza (ft.com)
- Reference: 0180848246
- News link: https://news.slashdot.org/story/26/02/23/2226231/trumps-board-of-peace-explores-stablecoin-for-gaza
- Source link: https://www.ft.com/content/cf4f3076-ed54-4093-99db-a81a47df322f
> Officials working with Donald Trump's "Board of Peace" are [1]exploring setting up a stablecoin for Gaza as part of efforts to reshape the devastated Palestinian enclave's economy, according to five people familiar with the discussions. The talks around introducing a stablecoin -- a type of cryptocurrency whose value is pegged to a mainstream currency, such as the US dollar -- are at a preliminary stage, and many details of how one could be introduced in Gaza remain to be determined.
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> But officials have discussed the idea as part of their plan for the future of the enclave, where economic activity collapsed during Israel's two-year war with Hamas and the traditional banking and payments system has been severely impaired. A person familiar with the project said the stablecoin was expected to be tied to the US dollar, with the hope that Gulf Arab and Palestinian companies with expertise in the field of digital currencies will help spearhead the effort. "This will not be a 'Gaza Coin' or a new Palestinian currency, but a means to allow Gazans to transact digitally," the person said.
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> Work on the idea is being led by Liran Tancman, an Israeli tech entrepreneur and former reservist who is now working as an unpaid adviser to Trump's "Board of Peace," the US-led body tasked with rebuilding Gaza, according to two people familiar with the matter. [...] According to the person familiar with the project, the "Board of Peace" and NCAG will decide on the stablecoin's regulatory framework and access, although "nothing definitive" has yet been finalized. Speaking at a meeting of the "Board of Peace" in Washington last week, Tancman said the NCAG was working on building "a secure digital backbone, an open platform enabling e-payments, financial services, e-learning, and healthcare with user control over data", but did not elaborate.
[1] https://www.ft.com/content/cf4f3076-ed54-4093-99db-a81a47df322f
If Only This Were Parody (Score:5, Insightful)
If only this were parody, it would be funny.
Re:If Only This Were Parody (Score:5, Insightful)
It already is a parody - the charter of the board of peace basically says Trump is chairman for life and he's the big decision maker. And nothing says how the billions of dollars are to be spent (every member nation has 1 year to ante up $1B).
I guess we know where some of it will be going.
Re: (Score:2)
> It already is a parody - the charter of the board of peace basically says Trump is chairman for life and he's the big decision maker. And nothing says how the billions of dollars are to be spent (every member nation has 1 year to ante up $1B).
> I guess we know where some of it will be going.
It should probably be called the "Board of Piece of the Action."
Re: (Score:2)
That things gonna be dissolved about 1 day into the term of whoever wins the next presidential election. Mark my words.
Re: (Score:2)
A parody would be funny, this is Orwellian.
and roaming fees will cost X4 the times an candy b (Score:2)
and roaming fees will cost X4 the times an candy bar
It wasn’t enough to beat Gaza to death (Score:4, Insightful)
Now they want to hump the corpse, before building a resort on it. Fucking Ghouls.
Theys (Score:1)
Who is "they?"
Re: (Score:1)
One of the things that actual non LLM humans can do with pieces of random text is infer a broader meaning or see a cultural parallel.
Maybe if you consider the article AND the response at the same time you can identify the subject. Go on. give it a shot. It's not that hard.
Re:Theys (Score:4, Insightful)
> Who is "they?"
We're not scared of you any more, people are seeing through the lines. And "they" means what you think it means. Get over it.
Good news... (Score:3, Informative)
He's totally not going to fuck over everyone involved so that he can make another ill-gotten buck.
Re:Good news... (Score:4)
If you think that's bad, wait until you hear how badly Kushner and co. fucked over 2 million people who aren't even involved with this plan.
I have a name proposal (Score:3)
The GenoCoin.
Backdoor (Score:3)
What a great idea from trump and friends... awesome for US and Israel, a high danger for everyone else.
So if it proof-of-work stable coin, it is vulnerable to the 51% attack and unless it is a huge already stablecoin (i bet it will not be), it will be easy for US+Israel take over the coin and drain whatever wallet they want. Only if they choose a big enough coin, where the 51% may be harder... but for the resources of the USA/Israel, for sure they could workaround it with some strategic temporary network cuts
If it s central controlled coin, they are already in the 51%, so they can ban, drain or filter any transaction. Even if they don't do it, they will be able to shutdown the coin and everyone in Gaza will lose all their money...
So with it, they can effectively control Gaza, it is a nuclear monetary attack!! if ever someone in Gaza discords in anything US and Israel say, they can drain their wallet
Even if i'm being paranoid... for sure someone will buy a lot of then before announcing the select coin... and sell it when the value increases... those in power will gain either way from it
so no, something that i would never trust, even the guy planing this is from Israel, everything points to a TRAP!
ps: and don't even think in the app in the phone... will have heavy tracking (not marketing, i'm talking about GPS/position track), listening to everything is said and on select phones may even explode or be a missiles beacon !!
Re:Backdoor (Score:4, Informative)
How is it remotely awesome for Israel? This board includes their biggest enemies - Turkey and Qatar, which Trump has absolutely refused to sanction for any reason whatsoever. In fact, in Israel, Netanyahu has already come under attack for agreeing to join this board of peace, so this week, they declared that they won't be involved in any of the Gaza reconstruction. As it is, Israel is already at odds w/ the US over Turkey being one of the countries that may have troops in Gaza, which is a non-starter for Jerusalem
In fact, w/o destroying Hamas, any talk of a Gaza reconstruction is meaningless. Gaza has its network of tunnels, and military bases, all courtesy them. Their education system is just about jihad and little else. So all talks about restoring the Gaza economy is a wasted exercise. If he wants to do good, help overthrow the islamic regime in Iran, and then help them restore their economy: that's a much more worthwhile effort. Others on this page are just being Israel haters, but Israel has the least interest in pouring money back into Gaza, unless the other part of Trump's original plan - relocate the Palis to other Arab/muslim countries materializes, and then the strip can be occupied (after reconstruction) by people who're not into jihad and aren't trying to slaughter Israelis all the time
As far as these cryptos go, the only successful crypto ever is Bitcoin. None of the others ever amounted to much. Unless one has FU money to piss away, nobody should put their real money into this.
Re: (Score:2)
In fact, w/o destroying Hamas, any talk of a Gaza reconstruction is meaningless. Gaza has its network of tunnels, and military bases ... relocate the Palis to other Arab/muslim countries materializes, and then the strip can be occupied (after reconstruction) by people who're not into jihad and aren't trying to slaughter Israelis all the time
I'm pretty sure more negativity about any Palestinians or Israelis isn't going to help.
I'd consider what Yair Lapid recently suggested, that the military phase had
The board (Score:3)
Consists of countries he would never step foot in.
Aka (Score:3)
Trump's Board of Peace, aka the Ministry of Peace or Minipax. It has a great slogan.
Re: Aka (Score:2)
Because we're bored of peace.
What portion of the money raised goes to the BoP? (Score:2)
You know, for peace reasons...
I think I've lost count of impeachable offenses (Score:2, Troll)
You would think him just going around openly selling pardons would be enough to get him removed from office let alone the fact that he's up to something like 1.5 billion at least and it may be more. That's just what the Wall Street journal was able to confirm.
Hilariously one of the reasons why crypto keeps crashing is crypto is a scam and Trump is scamming so much that he is muscling out the smaller players...
I don't think there is anyone left in the country who is it all politically aware that does
Pointless (Score:2)
Nobody wants to deal in state-backed stablecoins. They also don't gain value as a speculative instrument. USDT and USDC gained adoption by being first/early movers and solving a problem that traders had in resolving transactions without dollars or euros (and in the case of USDT, shady activity helped).
Gazans won't benefit from having their own stablecoin when they could do just as well with one of the existing ones, and nobody is going to deposit USD or EUR (or anything else) to adopt these stablecoins whe
Re: (Score:3)
Well I think the idea is that we can track where the money ends up, so if we hand out a bunch of USD backed tokens to build infrastructure hopefully not too much will get set aside for Hamas kidnapping expeditions.
As long as they can spend it, they will benefit from it obviously, because it's free money.
Oh great. (Score:2)
Let’s take a disaster and start experimenting with a new payment scheme, that we know somehow is profiting someone. (Yeah, I know what stablecoin means).
Only in Trump world is this lunacy given credence.
Don’t you like how he took 10 billion taxpayer dollars and transferred it to himself, I mean the board of peace, without legislative approval , and there was nary a whimper.
Nuts.
Re: (Score:2)
The thing is they've already demonstrated that giving them money directly results in them building a network of torture tunnels rather than actually using it to improve their lives. This is the result, an economy with training wheels. I think it might be crazy enough to work.
Because it's a scam, obviously. (Score:2)
I realize that this is either some fancy-looking exercise that goes nowhere as cover for what actually happens; or a shoddy crypto con; but what possible justification would there be for coming up with a new gaza-specific stablecoin, if you thought that stablecoins were the correct answer, rather than one of the other ones that is already in wider circulation?
Explores stablecoin? (Score:2)
More like "explores (another) stablegrift" amirite?
What can go wrong? (Score:2)
Demand a digital currency so a foreign bank (TrumpBank??) can steal from everyone, simultaneously.
Or, a foreign government disappearing a person's account makes that person, penniless and an un-person.
A foreign resource is controlled directly by the USA and also by Trump: Bad things will happen. We've already seen Trump use crypto-coin to enable 2 pump-n-dump grifts.
So let me take a wild guess... (Score:2)
It's another grift to be able to launder bribes into his crime syndicate.
Let me guess (Score:5, Funny)
It will have TRUMP's face on it and you will have to exchange it for shekels to pray at the temple.
Re: (Score:2)
Tricky Dick $300 bills accepted by participating retailers.