Cardano MENA Community zoom Meeting # 1

The conversation discusses concerns about the situation in Lebanon and how cryptocurrency, particularly Cardano (ADA), could be used as a means of holding assets. The speakers talks about their own experience with getting into crypto during the COVID-19 pandemic and learning about the technology and network of different cryptocurrencies. They mention trying out different coins and eventually settling on Cardano due to its solid technology and ease of use.

The conversation discusses the open-source nature of the smart contract that drives Djed and how anyone can interact with it. The website interface to the smart contract will soon be published open-source, allowing anyone to create a similar front-end and interface with Djed’s smart contract. This will enable third-party interfaces to receive their operational fees instead of Coti. The conversation also highlights the community-driven ideology behind the Cardano ecosystem and how building during a bear market can be hard and challenging.

The conversation discusses the usage of cryptocurrency in the Middle East, specifically in non-GCC countries like Lebanon, Jordan, and Egypt. The speakers agree that stable coins like USDT will play a major role in the development of these countries. Currently, people in Lebanon use USDT for sending and receiving money outside the country, as well as for P2P payments within the country. The speakers mention that if the central bank regulated crypto in a good way and allowed shops and businesses to accept it as payments, the country would immediately onboard. In Lebanon, people can exchange their USDT for dollars at several physical shops, which provide a bank-friendly user experience.

The conversation was ended tackling the benefits and challenges of decentralization in the context of blockchain technology. The speakers agree that decentralization can provide a more trustworthy system by eliminating the need to trust a central authority. However, they also acknowledge that user experience and branding are important factors in adoption. The speakers mention that some projects, such as Cardano and Bitcoin, are truly decentralized, while others may still rely on a central figure or representative. They conclude that while decentralization is an important concept, it should not be used as a mere sales pitch and that each project should be evaluated on its individual merits.

Links shared in the chat :

Screenshots from the Zoom call :

Total Number of Participants : 8


Wow this is amazing i will watch it right now

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