\n
\u201cCrypto became the largest driver for humanitarian help as well as some of military help for Ukraine,\u201d said Illia Polosukhin, the co-founder of Near Protocol.\u00a0<\/p>\n
Polosukhin, who was born and raised in Kharkiv, Ukraine, has been at the forefront of the crypto fundraising efforts aimed at supporting Ukraine against Russia\u2019s offensive.\u00a0<\/p>\n
Right after Russia’s attack on Ukraine started on February 24, Polosukhin and other Ukrainian crypto entrepreneurs created the Unchain Fund, which to date has gathered nearly $7 million in crypto donations. That is only one of the several crypto funds that are currently supporting the Ukrainian government, raising a total of over $100 million in just a few weeks.\u00a0<\/p>\n
As pointed out by Polosukhin, the borderless nature and speed of cryptocurrencies turned out to be extremely valuable in this emergency situation.\u00a0<\/p>\n
\u201cYou can create a full system, an NGO system in days. Instead of [the] months it would take to create a new nonprofit, set up banks accounts, get all the legal structure, make sure that people can wire money to it without problems,\u201d explained Polosukhin. <\/p>\n
After reaching the Unchain Fund, crypto donations are converted into local fiat through local cryptocurrency exchanges still active within the country.\u00a0<\/p>\n
Once crypto is converted into fiat, Unchain Fund’s volunteers on the ground in Ukraine are purchasing the necessary goods and distributing them among civilians who are stuck in the conflict zone or were forced to flee their homes. <\/p>\n
Earlier this month, Ukraine\u2019s President Volodimir Zelesnksy signed a law that established a regulatory frame for cryptocurrency in the country. Polosukhin believes the crisis showcased the utility of crypto in an emergency situation and will result in a boost of crypto adoption in Ukraine.\u00a0<\/p>\n
\u201cI think crypto will become a huge engine for future development of Ukraine,\u201d he said. <\/p>\n
Check out the full interview on our YouTube channel and don\u2019t forget to subscribe!<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"
\u201cCrypto became the largest driver for humanitarian help as well as some of military help for Ukraine,\u201d said Illia Polosukhin, the co-founder of Near Protocol.\u00a0 Polosukhin, who was born and raised in Kharkiv, Ukraine, has been at the forefront of the crypto fundraising efforts aimed at supporting Ukraine against Russia\u2019s offensive.\u00a0 Right after Russia’s attack […]<\/p>\n","protected":false},"author":1,"featured_media":9567,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"nf_dc_page":"","om_disable_all_campaigns":false,"footnotes":""},"categories":[42],"tags":[],"class_list":["post-9566","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto"],"yoast_head":"\n
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