Overview The global rise of digital and cryptocurrencies has the potential to dramatically reshape Palestinian political and economic resistance inside and outside colonized Palestine. How would this be possible, and how viable would it be? Which technological aspects of digital and cryptocurrencies can Palestinians deploy in their struggle for liberation? What are some of the complications they and their allies might face in utilizing these technologies, and how can they overcome them? Al-Shabaka sat down with policy analysts Tariq Dana and Ibrahim Shikaki to debate the utility and viability of using digital and cryptocurrencies in the Palestinian context. Are digital and cryptocurrencies viable as alternatives to a Palestinian national currency? Tariq Dana: Cryptocurrencies were created as an alternative to highly centralized, state-controlled fnancial systems across the world. Decentralization is a keyword in understanding the utility of cryptocurrencies, because they are not controlled by any authority, including governments or central banks. Transactions are typically secured through algorithms and consensus among complex networks of computers across the globe. Cryptocurrencies also include other signifcant features, such as anonymity, security, privacy, and fast and unstoppable cross-border transactions. This means that cryptocurrencies are immune to fraud and political control. I see many benefts to utilizing certain cryptocurrencies, particularly Bitcoin, if adopted institutionally as part of a Palestinian strategy. I use the term “strategy” to refer to the long-awaited revival of the Palestinian national movement, which necessarily requires developing new economic and fnancial means of resistance. This implies two things: frst, we should not adopt an incompatible statist perspective to solve our problems. For example, it is not useful to think about national currency in a conventional sense, but rather, as an innovative fnancial approach to enhance anti-colonial struggle. Second, we need to rethink our traditional fnancial institutions and activities that are fully subjected to Israeli control. Through using decentralized cryptocurrencies, Palestinians can get around these barriers. Financial and technological literacy are important for strategizing cryptocurrencies. Although cryptocurrency markets have some faws, such as volatility, speculation, and scam, there are always ways to evade them. The idea here is not to involve the Palestinians in such market conditions. Rather, it is about how to use cryptocurrencies to challenge Israeli fnancial domination. For example, Palestinians can build stablecoins designed specifcally for Palestinian use and cross-border payment, involving worldwide solidarity networks and pro-Palestine businesses. Stablecoins have fxed value, are built on blockchain technology, and are central to Decentralized Finance (DeFi), a revolutionary fnancial instrument that does not require the involvement of a central authority. Data about cryptocurrencies use suggest similarities with the use of the internet in the 1990s, which was only at 1% of the world’s population. Just as the internet today is integral to people’s lives, it is expected that mass adoption of cryptocurrencies will occur in only a matter of time. The world’s ongoing economic and fnancial crises may accelerate this process, and Palestinians must be ready to join the global trend. May 2022 CRYPTOCURRENCIES AND PALESTINIAN RESISTANCE: AN AL-SHABAKA DEBATE By Tariq Dana and Ibrahim Shikaki Al-Shabaka Roundtable Contact@Al-Shabaka.org www.Al-Shabaka.org 1