Wiza Jalakasi

@EMukumbo I started following you and became financially competent, but if you’re asking me about this specific scenario: I started appreciating the beauty of my hairstyle

@wizaj What's changed?

I used to get so upset when people called me Rasta

A reason to feel lekker on this fine Friday:

Well so much for that. Already lost. The system is utterly fucked and broken. @stripe 48-page evidence package. Easy to read, Table of contents, filled with visuals (a junior bank employee could easily understand everything). The customer used the product for 49 days, was logged in 13 hours before filing the chargeback, then canceled the subscription 5 hours after the dispute was already filed. *Technically they are still ACTIVE. Here's everything we submitted: PAYMENT INTEGRITY • AVS postal-code check: PASS • CVC check: PASS • Stripe Radar score: Normal (22 / low risk) • Auth success rate on customer email: 100% • Card brand, last-4, fingerprint, exp, billing ZIP all confirmed by issuer CUSTOMER USE POST-CHARGE • 35 distinct active days in 49 days • 393 authenticated session-refresh events • 17 long-form SEO articles generated • 18 AI images generated • 3 WordPress sites configured (admin credentials added) • 4 Google accounts authenticated via OAuth • Customer added their own paid OpenAI API key (BYOK) • 4 team members added TIMING • 49 days between charge and dispute • Logged into the dashboard 13 hours BEFORE filing the chargeback • Canceled the subscription 5 hours AFTER the dispute was filed INDEPENDENT IP CORROBORATION • Stripe captured IP at checkout: Manchester, UK • Microsoft Clarity captured 22 of 38 sessions over 60 days: also Manchester, UK • Two unrelated 3rd parties placing the same person in the same city across payment + 60 days of authenticated use THE KICKER - THE CUSTOMER'S OWN PUBLIC WEBSITE CURRENTLY DEPENDS ON OUR PRIVATE CDN • Articles generated on his account are LIVE on his own public WordPress sites • Page source contains img tags pointing INSIDE our private R2 bucket • Last-Modified headers on those CDN files match the EXACT minute his account generated them • Currently fetched by every visitor to his website CRYPTOGRAPHIC IDENTITY CHAIN (Automattic / Gravatar) • Every WordPress author avatar = SHA-256(author email) • 3 of his sites, 3 perfect SHA-256 matches against the gmail addresses in our DB • Automattic has no relationship with us, the customer, or the bank • Effectively unforgeable email-to-WP-admin binding DOMAIN OWNERSHIP (third-party attestation) • Google Search Console verified ownership on 4 separate domains • Public WHOIS: 2 of his domains registered 9 SECONDS APART through the same registrar account • Both registered 5 MONTHS BEFORE he bought our subscription • Pre-existing content business, not a stolen-card test VISA CE 3.0 ELIGIBLE • Same payment credential had a $0.00 trial-start invoice marked "paid" 7 days before the disputed charge • Same customer, email, payment method, subscription • Exactly the prior-undisputed-transaction proof Visa CE 3.0 requires The chargeback dispute system is broken.

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Rooting for @KenyaAirways. Was going through my @Flighty logs and realised I’ve flown on every B787 frame they own. KZA-> KZJ Was there ever a KZI?

@AK22_12 @NiahShelby @ChikafaJnr Makes sense. Thanks for the explanation. The only way to remove the arbitrage opportunity is to ensure FX is available for all sectors at the same price. But that may never happen because of the balance of trade deficit

@wizaj @NiahShelby @ChikafaJnr Because where else can the informal sector get most of its dollars from... Of course they give better rates which would force anyone with dollars to use them... But that's the cycle that's repeated. If government aligns the rate they increase their buying price - same thing

The strangest thing about people referencing a “parallel market” in Malawi is that it doesn’t actually exist. It’s the only market. It’s not parallel to any alternative. We as a country have just decided to pretend our currency is worth twice what it actually is.

But if everyday people can't access the "regular" market, is it even a market? Market being defined as arrangement where buyers and sellers meet to exchange goods, services, or assets on principles of supply and demand, where interactions between participants determine the price and quantity of the items traded?

@wizaj @NiahShelby @ChikafaJnr No - Here's the thing .... Malawi imports about $3b worth of products every year.... Of this... less than $500m comes from the black market. So the black has influence but with little supply. The majority is imported at bank rate...

BREAKING: The US stock market just hit an all time high, crossing $77 trillion in market cap for the first time in history.

@Khadomire @AK22_12 Who are the banks giving FX to? Like what business sectors? Individuals are struggling

@AK22_12 @wizaj Banks

@Khadomire Who are the participants?

@wizaj The formal market is actually very active. Trades +/- $20m a day

@FranklinNklin @Just_Han_C They won’t. People will just arbitrage and sell on the parallel market

@Just_Han_C @wizaj What if they deal at a rate set by RMB?

This will be a cash cow

@AK22_12 @NiahShelby @ChikafaJnr Not sure I understand very well here. My point is that market forces dictate price, regardless of where the money comes from. Only way to eliminate a “black” market is to make the “official” market actually functional. In malawi it’s not

@wizaj @NiahShelby @ChikafaJnr That wouldn't be enough to dictate pricing. However it goes if the supply remains subdued - we can not chase the rate. We can only eliminate the black market.

@NiahShelby @AK22_12 @ChikafaJnr Not really. It’s mostly from ordinary people who can’t get forex elsewhere

@AK22_12 @wizaj @ChikafaJnr You can’t chase black market prices in a corruption certified society. Most of money on black market is from shady deals.

@Just_Han_C Exactly. So the space is basically unregulated. It is neither legal nor illegal. Multiple companies operate already

@wizaj Are there any stablecoins or any crypto related company operating regally? I thought our regulations don't recognise crypto

But you need dollars for that 🤧

@Just_Han_C The regulations don’t recognise stablecoins or any crypto assets as any monetary instrument. In the same way I can choose to sell bananas at any price, they can sell stablecoins to fund cards

@wizaj The current regulations dont allow anyone trading the $ at a rate not set by RBM else banks would have been trading the $ at higher rates

@Just_Han_C what makes you think so?

@wizaj It won't be allowed to operate legally

@QUEEN_SheCoder like a P2P marketplace?

@wizaj Exactly. Which is why I think the answer is not an institution building the on-ramp but infrastructure that lets willing participants find each other directly so that the regulatory question becomes about the platform itself, not the price it quotes.

They can. But stablecoins trade at the parallel market rate which major financial institutions struggle to facilitate on/off ramps for on the fiat side because it might be perceived as an explicit endorsement of the parallel market itself, attracting regulatory scrutiny.

@machuche1 Then you’d likely need an e-money issuance license

@wizaj Other than regulatory scrutiny, what do you think of Malawi having its own digital currency that would be more programmable, interoperable with USD and ideally more liquid with next to zero slippage? Bc I think with Malawi situation it’s a very interesting usecase