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Ukrainian deputy minister praises role of crypto in his country’s plight

2022/03/09 13:07

According to Finbold, Ukraine’s Deputy Minister of Digital Transformation Alex Bornyakov has praised the role that cryptocurrencies played in helping his country. Bornyakov discussed cryptocurrency donations and other crypto-related topics during a conversation at Yahoo Finance Live on March 7. Emphasizing the importance of quick response times in moments such as these, he argued that the traditional banking systems were too slow to provide the required financing for the military and humanitarian aid. Bornyakov said, Crypto provided the necessary flexibility to quickly deliver the required supplies. To make this happen on the ground, the ministry partnered with a private exchange and created infrastructure that connects the Defense Ministry, banking systems, and companies that deliver the goods. He also commented on the failed airdrop that the Ukrainian government had promised as a form of reward for its crypto donors. Mr. Bornyakov explained that: “There were a lot of people that donated a very small amount and they just wanted to get rewarded. But I don’t think this is the time to make profits and use the airdrop as a means of profit, so we decided to decline it.”
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