Cut beef into 1.5-inch thick cubes and mix with 1/2 teaspoon salt, 1 teaspoon soy sauce, 1 teaspoon olive oil and black pepper. Set aside. If you have time, you can marinate for 1-2 hours for tastier results.
Cut onion into wedges, slice shallots and mince garlic. Also use a pestle and mortar to slighly crack 1 teaspoon of green peppercorns (or roughly chop with a knife).
In a heavy-bottomed pot over medium to medium-high heat, add olive oil. Once the oil is hot, add beef cubes and sear until brown. Transfer to a bowl.
Lower heat to medium. Add onion wedges to the pot and sauté until onion is fragrant. Add shallots, garlic and cracked green peppercorns and sauté briefly until fragrant.
Add beef cubes back together with 2 teaspoons of flour, stir well. Then add tomato paste and also stir well.
Add coconut juice and water and once it starts to boil, reduce heat to a gentle simmer. Add 1/2 teaspoon of salt and bay leaves. With the lid slightly askew (to leave a small space between the lid and the rim of the pot), gently simmer until beef is almost tender to your liking. I simmer mine for about 70-80 minutes.
Add carrots and potatoes to the pot and cook until beef, potatoes and carrots are tender to your liking (which is about 20 minutes for me).
Taste and adjust seasoning to your taste. You may also adjust the consistency of the sauce with additional water (to thin it out) or flour (to thicken it).
Transfer to serving bowls and garnish with some fresh uncooked green peppercorns (optional). Serve hot with banh mi or your favorite crusty bread.