This week I spoke to one of my wonderful Ukrainian friends, Pavel Kravchenko, PhD, about his country and why he has an exclusive positioning in the world of cryptocurrencies and blockchain.
Kravchenko has a training forged in cryptography and has been actively working in the world of cryptography for six years.Take a brilliant advantage of its solid educational training and business pleasure to explore this conversion space.When it comes to studies, he is a fan of theories, however, when he introduces Ukraine on the world stage, he believes the facts speak for themselves.
Ukraine has a very high penetration of cellular banking.There is a long history of national availability of instant card-to-card invoices (no chargebacks, no taxes).A growing number of local banks have personal computer generation and transformation programs.country emanating from generation, with more than two hundred thousand developers dominating English.In schools, the emphasis is strongly on math, which are increasingly popular with high school and higher students.
When asked why so many other people were following a career in programming, Kravchenko smiled and said, “This race has a relatively high salary, with an old availability of 5% gross taxes for personal entrepreneurs.”It turns out that 95% of IT staff use this system.
“Our society is oriented towards freedom, and our central government has had a less intelligent reputation than in most countries.Ukrainians also adhere to the concept of immediate exchange of wisdom – many foreigners paint here in Ukraine.And we, too, have a visa.free regime with many countries.”
When it comes to preparing the cryptography market, preparation is the key to success.And a widely identified progressive movement, Ukraine is creating legislation on virtual assets.The laws attempt to outline a framework for managing virtual assets, adding cryptocurrencies, and deserve to be followed through updates in a tax codex and civil codex.However, it is still difficult to differentiate what a virtual asset is, as all assets are now being digitized.returned with the “improve” stamp.
Elsewhere, forex markets and businesses are developing at a stable pace, basically for BTC/Tether to deposit money.Kravchenko notes that “the main source is the gray market for external payments.Some parties constitute Ponzi schemes, illicit drug markets and bribes.Local money for currency exchange offices is beginning to adopt cryptocurrencies.Many of them have giant foreign networks”.
Mining remains as popular as ever and this can be credited by Bitfury’s good fortune in asic progression in 2013.Despite its popularity, this company has never reached the point of the company due to the complexity of the legal scenario and the appeal of the However, Kravchenko questions this conclusion and points out that this market may be hidden due to people’s ability to borrow electricity.
Across the country, there are dozens of Fintech projects aimed at Ukraine, however, most of the progression brings together the European and US banking sector.There are about 4,000 generation corporations and many of them run in foreign virtual transformation projects.
Digital banking in Ukraine is improving. From two decades of dominance of PrivatBank, which followed the trend with massive investments in virtual infrastructure, with the good luck of Monobank (launched through almost the same team) and other non-bank programs that have other objectives (e.g. NovaPochta – very fashionable and a technical postal service with built-in payment experience). The company used to deposit a smartphone and benefit from cheap “tax-free” p2p transfers.These virtual banking trends have led to the steady expansion of the Ukrainian SME market.
Digital signature has been legal since 2002 and is widely used in tax declaration and authorization on government portals, however, it is not widely used in a banking sector due to inefficient procedures and the generation used is not standardized globally.
Recently, the Ministry of Digital Transformation launched an app that will provide many virtual facilities to citizens, started with a passport and driver’s license in an app and uses BankID to authorize a person, then used the same ecosystem to track people’s self-management.Covid-19 blockade.
Kravchenko recognizes that Ukraine is a “smart destination for hackers” due to useless legislation and forged mathematical education.”But all of this has largely contributed to the progression of the crypto/blockchain sphere, which can be a smart thing to do,” he said.Argues.
Over the past decade, the government has explored the opportunities and benefits of blockchain technology.More than a dozen blockchain projects in companies and governments have started, basically driven by a preference for innovation.Despite this, there are only a few such projects left.Currently, most of the remaining projects are in the ICO space.”Most corporate groups are lately running on overseas projects or have moved (such as corporations or individuals) to Switzerland, Germany, the United States or Singapore,” Kravchenko says.
Central banks around the world are researching central bank virtual currencies (CBDCs). The National Bank of Ukraine (NBU) has attempted to expand the evidence of the concept of a virtual currency in 2017.In 2020, the NBU organized an occasion dedicated to this topic and showed a prototype adapted for the occasion.The search continues.
In 2016, there was an attempt to expand an ecosystem consisting of several trading platforms, the blockchain, even there was a pilot with property registration, a decentralized auction, however, only a few operations have taken position to date, Kravchenko noted that there were many bureaucratic pitfalls that prevented the project.It has been reactivated in the advertising sector for the commercial of cross-country used cars.
Other notable blockchain allocations come with the CETAM auction, where a giant government auction made an allocation to seal all bitcoin blockchain transactions.NBU has introduced a public tender to expand a decentralized register:
From the beginning of this verbal exchange with Pavel Kravchenko, PhD, it seemed an endless list of activities nationwide in everything similar to cryptography, blockchain, virtual and even fintech, was to provide it differently.One thing is certain, Ukraine has a deep wisdom and experience in the cryptographic generation.Those who play in this area enjoy the freedoms that that generation originally promised, however, it seems to me that for the country to attract more foreign direct investment or expand into a global technological power, it will have to be organized centrally.
But does this contradict the very nature of cryptography?
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Note: Pavel Kravchenko, PhD is the co-founder of Distributed Lab, which works around the world and has participated in many of the projects discussed above. It is an active member of the Blockchain community of Ukraine, which now has more than a thousand members.After publishing five books (3 of which are textbooks), Distributed Lab books are officially approved in Ukraine and several universities have created blockchain courses based on those publications.
I write about innovation and blockchain.