How Taxir Empowers the Arab World with Blockchain Technology and Web3
How Taxir Empowers the Arab World with Blockchain Technology and Web3
An Interview with the cofounders of Taxir, the company aiming to break down Web3 barriers in the Middle East and North Africa (MENA).
A Pioneering Vision: Latest Developments Around Taxir
Taxir's cofounders Ali Karake & Ammar M. Hassan share their insights on the latest developments and projects aimed at empowering the MENA region. Taxir's hybrid business structure, consisting of Tafkir, Taxir, and Tajsir, addresses the complexities of blockchain adoption and focuses on research, communication, and localized service provision to ensure the success of its mission.
Bridging the Language Gap: The Power of Arabic-Native Translations
Ali addresses the challenges faced by institutions due to a significant lack of standardization and the propagation of trusted translations. He emphasizes the importance of working on this issue as the cost and effort required to translate blockchain texts into Arabic are considerably high.
By providing support to translators and content creators across various media formats, including written, podcast, and YouTube content, Taxir aims to convey essential blockchain concepts to the Arab world effectively.
Overcoming Challenges: Obstacles to Arabic Web3 Adoption
“We have a lot of obstacles that we like to call the Bermuda Triangle, which has three arms: the legal framework, poverty and data for users, and the language barrier that we've already started tackling through our efforts,” says Ali.
The lack of technical and social infrastructure is a significant challenge, as is the mistrust in the banking sector, which leads to 85% of transactions being conducted in cash.
The stigma attached to the blockchain hype, fueled by get-rich-quick schemes and uninformed trading, has made many people hesitant to enter the blockchain sphere. However, Taxir is determined to tackle these issues and help the Arab world overcome these obstacles, enabling the region to thrive in the era of blockchain technology.
Empowering the Region: Economic and Web3 Infrastructure
As Ali points out, using crypto to transfer funds can significantly reduce fees, which can be especially beneficial for the billions of dollars sent in yearly remittances. Furthermore, blockchain can enhance peer-to-peer transactions and reduce the cost of trust, which is a considerable expense in the region.
Ammar shares his personal experience, highlighting how the lack of a bank account can lead to mobility and career issues. With decentralized identity solutions and crypto wallets as proof of income, blockchain can address these problems and bring about financial inclusion, allowing users to overcome obstacles and take control of their finances and identities.
Identity and Regulation in Web3
Identity in Web3 has significant potential to address financial exclusion and lack of access to essential services. Ammar envisions a UN-sponsored, certified wallet representing one's identity, allowing it to be used for visas, passports, and mobility facilitation.
While concerns about privacy and data ownership exist, Ammar suggests leveraging zero-knowledge (zk) technology and initiating a broader debate to improve the current systems. Ali emphasizes that even a tiny amount of freedom in financial matters could have a domino effect, promoting change and empowerment for those affected by regulatory issues and lack of access to financial services.
This episode of The Feedback Loop is available for video streaming on YouTube and across all the major audio streaming platforms including Spotify and Apple Podcasts.
