#SLBNET: RUN, CRYPTO RUN?’- PART 2/3
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LAST WEEK ON ADMP: We published a post, that would help make Bitcoin ‘great again’; Especially after the multiple problems it went through during the ‘Pump and Dump’ episode of late 2017, the Zimbabwean ‘Black Friday, the ‘Chinese/Korean crypto clampdowns in January 2018 and kind of still going on today, etc, etc…
We also introduced you to a new guest blogger, Madiou BAH, from Guinea (Conakry), a 31 years old, ‘Iron Man of the Blockchain based in TUNIS!
He is the Co-founder and CTO of SLBNet (Sierra Leone Bitcoin Network) in Freetown
Electronic Punch by Madiou Bah, ADMP GUEST-Blogger
Edited by: Hermann Djoumessi, ICO Social Media Consultant
1. RUN FOREST RUN
The world is in a hurry. You close your eyes for a second and you stay behind. So do not lose time because you can lose money, a loved one, a child, or a precious thing
and find another one better than the one you lost.
However, trust me, time is fatal.
When it happens, it’s over. It’s worth more than anything in the world. That’s why we like saying, “Time is money .”
In my opinion:
The best way to monetize our time is to begin with bitcoin, which is easy, simple and secure.” (MB.)
This is the only currency that can serve you in any place of the world—to buy and sell without charges.-
That is why people need to be true to the original Satoshi PDF forewords:
A purely peer-to-peer version of electronic cash, would allow online payment to be sent directly between one party and another without going through a single financial institution (SN)
Mostly the ‘Satoshists’ or ‘Satoshi maximalist’ want to change the ‘Financial’ world as we know it.
→ All great entrepreneurs rather understand how bitcoins revolutionized their companies, therefore this money is becoming more and more useful.
More and more, impactful.
Unfortunately, some disagree with us…
And the attacks are insidious…
3. #SOFT POWER AND #INFOWAR?
Are you thinking ….
…We are thinking?
After much talking through done with #ADMP many online communities and chat rooms, on #Whatsapp, Instagram, Telegram, and messenger.
We quickly came to the conclusion that maybe, just maybe… Electronic ‘Dog whistles’ on crypto Social Media, on various ‘Millennial’ and ‘Androids’ mainstream platforms (Gootube/Facebook/Twitter),were using too many words like ‘prohibition’ and ‘Bans’, to not see a ‘ negative trend’…
It is a strange feeling, when you feel that…
… an entire industry is being singled out, globally:
A lot of negative press has attacked the crypto-space. And one cannot help but feel that ‘the culture’ is also being attacked via an #infowar, and from all angles:
- Global KYC procedures that are more and more complex on the regulatory level, as part of Soft power ‘push back’
- Scams and hacks that are more and more sophisticated, from the technological standpoint (#Softpower)
- Slow adoption from the crowd, ‘thanks’ to bad press and ‘infowars propaganda’ from 20th century ‘Dinosaur-medias’ (TV, Press, Radio)
- Competing cryptocurrencies, and ‘altcoins’ (But, that was true since Ethereum in 2011 – #HardPower)
Or, another set of measures and counter-measures:
- Competing Bitcoin and Ethereum core with ‘forked’ chains (#HardPower)
- Still no ‘Facebook’ or ‘GAFA Coin’ in the horizon, to help spread ‘Crypto-culture’ further (#HardPower)
- Shadow-banning and banning of ads on ‘Millenial and androids Mainstream Social Media platforms’ (#SoftPower ‘push back’)
- Multiplication of ‘scam-coins’, ‘shit-coins’, etc.. (#HardPower)
‘Banks are a Poor Solution for Monetary Transactions,’ (CSS)
4. ‘SOFT’ CRYPTO-PROHIBITION?
All in all, this #Crypto-prohibition is not conducive towards good business practice in the long run.
After all, that ‘system’ has been pretty ‘efficient’ at keeping billion of peoples unbanked in Africa, in the near past…
Previous historical events a like the US Prohibition, roughly 100 years ago, in the USA, for example, led to dead-ends
and a more conciliatory approach later, with licensing hours, licenses, and ‘mature’ regulations, moving forward.
LET’S MAKE IT CLEAR: #ADMP , or indeed #SLBNET, want to be part of the solution, not the problem.
–> But the ‘KYC nonsense has to STOP!’
-> ‘Over-the-top-regulation’ will not unbank local people, and risk slowing down the most impressive technological and Fintech push in Africa for a generation!!
In the name of WHAT ??
5. CREATING TOMORROW’S REGTECH INCUBATORS?
Here’s the SOLUTION provided by #ADMP and #SLBNET given to you, for FREE! –
Call it the #AFROTECH REGTECH (Regulatory Technology) CRYPTO-MANIFESTO:
- 1. Any solution to regulate the cryptospace using paper will be banned!
- 2. Any solution using solely machines, or algorithm will be banned too!
- 3. Crypto-Incubators are part of the solution, but the benefit will be lost if
regulators do not participate in agile management fashion inside it: iterate, iterate, iterate again!
- 4. The best system, to regulate another system, is a system itself:
The regulator should operate as a network of computer, preferably on a ‘regulatory blockchain, too’!
- 5. The best system will be operated as a blend of machine and human, with the goal of developing an androrithm, to be used especially when it comes to conflict management and the decision-making process.
When it comes to regulation of the crypto-space, paper-based or analog systems, are part of the problem, not the SOLUTION! (#ADMP)
Adopting such manifesto is key to regulators, who are still operating on 20th century timeline, in this digital environment.
Cue Guy Kawasaki, Social Media maximalist‘ defining the 21st century time-split on his twitter timeline:
–> Guy K. now tweets 3 times a day, 8 hours apart
–> Guy believes that, every 8 hours cycle, you have a new set of human beings, logging on to twitter. = Basically, a new set of people to talk to, who could not have seen your previous messages.
Guy tweets mostly in order to be retweeted. We can extend Guy’s rule to Social Media and crypto-economics, as 99% of crypto selling, is made via Social Media and the web.
A fact, that was tweeted by #ADMP DLT TeaM –>
1 CRYPTO-HOUR = 3 HOURS in ‘Real Life’
1 CRYPTO-MINUTE = 3 MINUTES in the ‘Life’
We basically, need more crypto-incubators and more ‘regtech’ startups to help regulate the space, with local authorities.
Let’s hope, the customer will not be the ‘victim’ in the process. → Entrepreneurs will certainly be tested!
#ADMP AWARDS : Many Thanks ! You are far too Kind !!.))
#END of PART 2/3 .
Electronic Punch by Madiou Bah,
Edited by: Hermann Djoumessi, ICO/CTO Social Media Consultant
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Twitter Profile: @madioutelecom
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