Cointelegraph spoke with Ali Hamam, co-founder and chief marketing officer of Tahini’s, to understand the whys, hows and unintended consequences of operating under a Bitcoin standard. Hamam was the driving force of the Bitcoin adoption in the Middle Eastern chain.Hamam first learned of Bitcoin in 2016 or 2017 but discarded the innovation as a Ponzi scheme, or “rat poison,” as he was dissuaded by its negative press.
Inspired by the writings of Robert Breedlove — a Bitcoin influencer and entrepreneur — sound money in the form of BTC dawned on him. Hamam said that he and his company needed to find a better way to store value. “Money is going to be worthless,” he said. Hamam was hooked. He went all in, devouring Bitcoin-focused books, podcasts and, in some cases, not sleeping as he educated himself and fell deeper down the rabbit hole.
Armed with freshly acquired knowledge, Hamam met with his business partners at Tahini’s to pitch the idea of running the business on a Bitcoin standard. The argument behind having the “Bitcoin standard” — a term popularized by Saifedean Ammous, author of the eponymous book,— is that not Bitcoin is not just a better reserve currency than the U.S. dollar, it’s actually a superior currency.Consequently, the business should carve out a route with profits in Bitcoin in mind.
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