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Grab, a ride-hailing super-app popular in Southeast Asia, has incorporated web3 services. Users can now set up a web3 wallet, win blockchain-based rewards, pay with NFTs and more. In addition, Grab partnered with the Monetary Authority of Singapore to bring NFT vouchers for popular eats and experiences in the city, according to Grab app screenshots viewed by The Block. Grab maintains over 34.9 million monthly transacted users as of the third quarter of 2023. The firm operates in over 500 cities and offers food delivery, package delivery, online payment services and more. Grab is a pretty huge app in SEA, so this could be great for adoption of web3
Crypto can't DIRECTLY help people who don't understand it. Most of the time, it's the opposite that happens. People without basic/correct knowledge of crypto who try to use it to improve their quality of life end up in worse situations. i.e hacks, scams, bad investments Also, most of the time, they'll just say no to it. Security is a big thing for these people. They'd rather invest their hard-earned cash into a brick-and-mortar store and see tangible profits instead of converting their cash into digital assets they don't "see" or "hold." This is because they don't understand the concept of crypto. Now, crypto can "INDIRECTLY" help these people through donations. There are non-profit organizations out there that accept crypto as donations. But that's all I can think of. And, to be honest, I don't really trust these types of charities/foundations. BTW, I'm from SEA and I live in a low-income community. Monthly income ranges from $200-$300 where I'm from. And I belong to this group. Crypto has helped me a lot. Now, especially Moons. In two weeks, I earned $200 which is what I typically earn every month. I'd love to tell friends and family about this sub/Reddit/Moons, but I know they'll call me crazy. And I'll probably be told that I'm wasting my time.
I'm also from a SEA region (different country) and sorry a bit blunt, but I think cryptocurrency in our region is very underdeveloped and I doubt there will be a lot of good prospect of looking a job in that area and even if there is, I still doubt its going to be worth it. If we're talking about remote job (company located outside in a more developed country), then I think its more worth it to just pursue career in software engineering or IT in general as its way easier than blockchain and the salary is far from bad.
Most millionaire that I know think bitcoin is just poor people online casino. Once they show me that just buying BTC in CEX and return it to fiat take around 15% in fees/cost , I understand why they are not interested. I live in SEA and the millionaire here think it's similar to that game that bored housewife game play where they pool their money together and bid on it. The rules is you can take the money if your bid is the lowest but you cannot bid the next round until everyone else pull their money
Indonesia as a whole has some convoluted laws, like mandatory death sentence for certain drug possession chargers. this sounds like it’s just Bali tho. each Indonesian island is governed like it is its own country. also, fuck Bali. it’s one of the worst places i’ve been in SEA. it’s overhyped and crawling with dumb tourists and the local food will give you the shits for days.
Post a picture of him in the SEA backpackers or travelers forums, maybe people will recognize him. I met a European girl in Indonesia who had her phone stolen in Cambodia. It took her a month to buy a new one and some people she had been traveling with in Vietnam had been trying to track her down because she went completely radio silent for so long. She had zero social media accounts, only used WhatsApp. They had been posting in all the social media forums for travelers if anyone had seen her.
Yup that platform preys on SEA countries primarily. Only can be found if you search on Google. My search involved "Stable coin yields" and saw this and a few other failures. Surprisingly majority of them are from Singapore, probably new safe haven for crypto scamsters 🙂
**FUD level 999** RUSSIA FIGHTER JET COLLIDED WITH THE PROPELLER OF A US MILITARY "REAPER" DRONE, FORCING THE US TO BRING IT DOWN OVER THE BLACK SEA - US MILITARY STATEMENT. Anyyyyyy waay, who's ready for 30k BTC?
About ATMs: they really aren't cheap! Canadian here, travelling in SEA as we speak. Withdrawing 5000 Thai bhat costs me 220 Bhat to withdraw (ATM fees) + conversion fees. I end up paying 220ish CAD for something worth barely 200. Again, this isn't cheap! It's 10%, FFS! When I ask to pay with my credit card, nearly everyone ask for 3% more (understandable). And don't even get me started on cash... It's a hassle everytime I try to pay in a small shop with "big bills", like 100 ringgits (30 CAD), 1000 Bhat (40 CAD), or 100k Indonesian rupiuah (9 CAD...!).
Retire in the next 5 years with zero debt...focused on living a life free from pursuit of capitalistic possessions. Will likely end up on an Island in SEA, exploring low cost of living environments and back in the states for a few months here and there.
The IMF and other international bodies like the World Bank etc helps keep poor countries poor by restricting their access to money, aka the US dollar. They can control who gets what and under what conditions they get it. The abandonment of government issued currency for crypto means that they can't suppress the population of certain countries and starve them out to enact the political changes **they** want. If we look at Venezuela there's no doubt that they are fucking pissed that the country is still alive, part of that reasoning is due to crypto. They want to destabilize and restrict growth of certain nations - South America, Africa and SEA through these policies and expect everyone to go along with it. Its funny though, why is it that when it's time for mega corporations to build factories in certain countries, suddenly there's no rules anymore.
SEA is safe, but some expats in Phuket and Bali are desperate to keep living the dream. Lived in Phuket and it has a dark side. Tho getting in trouble is unlikely unless one does something stupid (drugs or large amounts of money).
They have a place to exist alongside in my opinion. I feel like crypto can provide an equalised spread of value among lesser privileged countries. Of course this is a threat to our leaders who want to maintain their control over money. I’m worried about our situation in the west but I’m more worried that if crypto is completely stomped on, the benefits it could give South America, SEA, Africa and those under authoritarian regimes will be lost.
Funny enough a part of what drove this question is I'm currently in Malaysia. I rarely take my physical cards with me anymore. It's beyond impressive how many places here take Apple Pay and other digital wallets/payment types. Some I've never heard of. Went to an equavelient of Home Depot yesterday found throughout SEA and paid with Apple Pay.
Why does it specifically have to come from a single SEA country? Like there’s untapped potential all over the bloody world. It doesn’t begin and end with one country, and there’s no use arguing about that Am I getting wooshed here?
Yeah what like east = not the west? It’s true though, think about the levels of population in places like Africa and SEA where crypto can have extremely important use cases for those under controlling authoritarian regimes or hopeless inflation of their native currencies
Which country exactly??? Europe is USA's bitch. Russia, China, India, etc are in various stages of crypto ban. LATAM and Africa are really only interested in stable coins (also comes under US jurisdiction) in crypto market. That left SEA and island nations. And I don't think they have economic power to even make a dent.
You're barking on the wrong tree. His comment wasn't about demonizing all CEX, which is everyone's way in (whether you keep assets on the exchange or go self-custody thereafter is another topic), it's the fact that the compliance and audit of Binance has raised concerns. I'm sure the commenter wouldn't be saying the same about Coinbase or Kraken. Now as someone, who lives in SEA, I mainly use Binance and their platform is great. But even before all the FUD, I made sure to withdraw routinely and go self-custody, because of the adage: not your keys not your coins.
“The SEC has the power and responsibility to lead investigations into potential violations of the SEA, such as insider trading, selling unregistered stocks, stealing customers' funds, manipulating market prices, disclosing false financial information, and breaching broker-customer integrity.”
None of my friends in Thailand are using it but it's my understanding that it is a very peer-to-peer country so I'm sure it's being adopted there; I can't confirm either way though. As far as SEA goes, check out Boracay in the Philippines. I'm planning to make a trip there early next year. It is a touristy island but at last check, I think there was something like 150 merchants that accept btc. I'm honestly surprised that more people don't talk about it. They have a twitter account for that Island and there's also a user in this sub that posts from time to time about onboarding new merchants but I haven't seen anything from them in a while.
We should have a fixed thread in every crypto sub with a huge list of scams for everybody to consult, especially newcomers. This guy has been spamming this SEA token shit for days, as annoying as the guy spamming the Elon Musk giveaway
I don't think the premises of CBDC is correct. I will talk about India and it's CBDC, named as E-rupee. CBDCs are introduced for more financial inclusion. There are so many people in India having no access to bank accounts or traditional banking systems. CBDCs will integrate them into the financial conduct too. CBDCs are also introduced to reduce the cost of currency printing. Online transactions have increased by lot in the recent years, and this is a further step by Government to adopt online methods. I can understand why CBDCs may not be that useful in developed nations like UD, UK etc. and it's only use is for more financial control by government. But, in developing nations like India and SEA, it is an essential step for going digital in payments. People may argue regrading the use of crypto in such cases. We have to also consider the fact that fiat money is not going anywhere atleast in next 10 years. Crypto will always be a parallel form of economy along with fiat. So, people need fiat money for day-to-day operations. TL;DR CBDC's use cases depends on the nation, and it may not be inherently bad in developing nations like India. They're definitely bad for developed nations like US and UK
I feel bad for any billionaire grifter that doesn't have a series of fake passports and a plastic surgeon lined up for a quick exit. I met a guy who had gotten away with massive fraud and they couldn't prove that he was who he was. He had gotten himself registered as a citizen in a SEA country. He even travels back to Europe now
You do realize there exists another side of the world right? The majority of SEA and Central Asia use Binance, as well as some East Asian countries. Why do you think they're the number one in the world? So funny to me how any east Asian juggernaut always has some Chinese narrative behind them.
Happy to explain. 1. Why incur interest? You pay what you owe you have 0 interest. Outside of the annual fee I’ve yet to pay a cent in interest. Don’t spend money you don’t have simple as that. Unless of course there’s 0% APR. but those don’t have high rewards. 2. Annual fees exist but rewards CAN outweigh the annual fees. I have **9** hotel credit cards between myself my spouse and my business. Each credit card gives me a free night at a mid-high tier hotel. $250-$400 a night retail. Annual fees? Total is $730 a year. I’m not math genius, but $730 for **9** nights a year in 4 star hotels? Absol fucking lutely. 3. My daily driver pays 2.05% back towards travel. What does that mean? I use my card and spend 50k a year, I earn $1000 towards travel. What does that mean? I buy a plane ticket and I take $1000 off the statement. My family generally excercise this credit once every 4 years or so. So we have roughly 4-5k towards a big vacation. These are just some items off the top of my head. There’s never a case to use a debit vs credit especially in the US. European and SEA idk. But in the states if you’re using cash or debit card you’re leaving money on the table.