Month: August 2025

At first glance, both value-added tax (VAT) systems and blockchain-based stablecoins are models of transparency. But a closer look reveals a foundational conflict: one empowers the (extractive capacity of the) state, the other could empower (the extractive capacity of) private actors. This tension is, in my opinion, coming out across many ongoing tensions between the…

This is an attempt of an explainer article that captures what is going on globally around recent deal making activity to the best of my understanding. The digital era has upended traditional notions of taxation in global trade. In the analog world, pre-trade world, corporate profits are typically taxed in the country where goods are…