pull down to refresh
As you and others have noted, grassroots/informal economy would gain more traction. I agree with that. Thank you for your response.
reply
pull down to refresh
As you and others have noted, grassroots/informal economy would gain more traction. I agree with that. Thank you for your response.
Since sats cannot be printed, you need to acquire sats into your economy. You can do this in 2 ways:
What I've personally felt Caribbean locals (not tourists) sensitive to: savings. So if you have sats and they have cash, and you need some cash for groc or to go to the rum shop in lieu of them accepting sats, trade p2p. This creates some backpressure, but not a lot, because your friends will hodl.
I think that the #1 thing to do is to surround yourself with entrepreneurs. Discuss their friction with them. Many, especially the young, will tell you they experience banking friction (due to the correspondence banking squeeze business and poor local services) and I've found they're open, but worried on the liabilities side. Services may have less friction than goods, to start, but do remember that regulation - especially within Caricom - leans towards copying MiCA, so exchanging is an ever-growing issue too, especially because it reintroduces the same banking friction, KYC traps, and so on.
The informal economy is the best economy to start with, and there is plenty of that.