Donald Trump’s ‘Board of Peace’ explores stablecoin for Gaza

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.

Another person familiar with the talks over introducing a stablecoin — in which transactions are anonymous but traceable — said the idea behind the initiative was to “dry Gaza from cash so Hamas can’t generate any”.

However, other people familiar with the discussions expressed concerns that a stablecoin could potentially also be used to further detach the economies of Gaza and the West Bank, both of which Palestinians seek as part of a future state, particularly if a Gaza-only stablecoin were not under the control of the PMA. “It will be much more difficult [to maintain economic links between Gaza and the West Bank] if they have no means of easy payment between the two, so that Gaza would be almost like a self-contained economy,” said one. “That would be a concern.”

Another potential complication of relying on a stablecoin would be the fact that Gaza suffers from frequent power cuts and Israel has long limited Gazans to using slow 2G network technology. In his comments at the “Board of Peace” last week, Tancman said that Gaza’s 2G network “will be upgraded with free high-speed access to essential services” by July.