Trump’s So-Called ‘Board of Peace’ Wants to Put Gaza on the Blockchain
Summary
Gazans face limitations with only 2G network access, prompting discussions among planners about the potential implementation of a stablecoin. This development could significantly impact the region's economic landscape and digital connectivity.
Key Insights
What is a stablecoin, and how would it function in Gaza?
A stablecoin is a cryptocurrency pegged 1:1 to the US dollar, backed by reserves, designed for stable digital payments without volatility. In Gaza, it would serve as a digital payments rail for aid, salaries, remittances, and commerce, bypassing the destroyed banking system and scarce physical cash, potentially integrated with platforms like USDT/USDC.
Why is Gaza's 2G network a challenge for this stablecoin proposal?
Gaza relies on slow 2G networks, which severely limit smartphone functionality and data usage needed for digital wallets and payments. A planned upgrade to high-speed internet by July is essential for stablecoin adoption, as current infrastructure hinders effective implementation.