Since late February, the Ukrainian government has been relying on donations of cryptocurrency to address her defense and humanitarian challenges.
However, lawmakers and activists in Ukraine capital, Kyiv have been pushing for Ukraine’s acceptance for a member in the European Blockchain Partnership, they have been siting the just adopted law on “Virtual Assets” as an opportunity for Ukraine to become a blockchain leader in the continent.
The European blockchain membership Partnership is a union, aims to leverage blockchain in order to fast track the creation of cross-border services for public administration and their ecosystems, the body is looking to simplify the verification processes by changing the way citizens, businesses and public administrations share information and trust each other through the European Blockchain Service Infrastructure (EBSI).
However, members of the “Virtual Assets of Ukraine ” public union and Blockchain4Ukraine, a faction of Ukraine lawmakers are urging the European Blockchain Membership (EBP) for their country’s full participation in the initiative. They believe blockchain technology can help in the post-war construction of Ukraine.
Letters with the plea have been sent to the European Commission President, Ursula Von der Leyen, the head of her cabinet, Bjoern Seibert, and Anthony Whelan, who works as a digital policy adviser to the executive body in Brussels.
Last summer, Bjoern Seibert announced that the EBP is considering granting Ukraine an observer status, however, this faction of Ukraine officials insisted on full memberships which will link their country to the European Blockchain Services Infrastructures (EBSI) that will facilitate access to extensive cross-border electronic services.
Blockchain in Post-War Ukraine Reconstruction
Thus far, cryptocurrency has taken an unprecedented role in the Ukraine war against Russia, more than $100 million worth of crypto has been raised with the crypto fund for Ukraine, run by Michael Chobanian, this accounted for about 60% of their donations.
The post-war construction of Ukraine will require donations across the globe, and many benefits associated with the transfer of money using cryptocurrency will speed up the process of funding the re-construction.
According to the representatives of the activists and lawmakers, the blockchain technology will facilitate cross-border services after their clash with Ukraine, “EBP will accelerate this recovery, as well as support the further integration of Ukraine and the EU,” they explained further that, Ukraine was on the verge of regulating its crypto space prior to the Russia invasion in February. The Ukrainian parliament passed a bill on “Digital Assets” earlier that month which was signed by President Volodymyr Zelenskyy mid-March.
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