Reportedly Russia vs Ukraine conflict forced Ukrainian government agencies to shift their attention toward the crypto sector as a heaven under critical situations.
In late Feb 2022, the Russian military started invasions against the Ukrainian army over their geopolitical conflicts. In that fight, the majority of the countries supported Ukraine. The crypto industry also helped Ukraine and donated more than $100 million worth of crypto assets & NFTs to rescue the Ukrainian military & residents.
Recently a report ranked Ukraine at number 4th in the whole world, in terms of crypto adoption & practical level used in the last 12 months of the period.
Alex Bornyakov, the Ukrainian deputy digital minister, also noted that cryptocurrencies played an important role to help the Ukrainian army because traditional financial systems were not better at that time but access to the internet & use of crypto in the payment system was very easy to use.
The Ukrainian minister confirmed that 60% of the army weapons & aid suppliers were accepting direct crypto payments and it was easy for the Ukrainian army to use the crypto donations. Reportedly Ukraine used cryptocurrencies to purchase helmets, bulletproof vests, optical sights, and other combat equipment.
“We were able to secure the purchase of vital items in no time at all via crypto, and what is amazing is that around 60% of suppliers were able to accept crypto, I didn’t expect this.”
The more interesting thing that the Ukrainian government noted was support from Russian citizens. Research on the all received crypto donation noted that many Russian citizens sent crypto assets to support the Ukrainian army.
These things are clearly showing that the geopolitical fight & drama between these two countries was indeed a fight among the political power, not between countries’ citizens , and the transparent nature of Cryptocurrencies helped a lot to figure out these things.
Read also: Ripple (XRP) discloses cross-chain bridge proposal