Friday, July 1, 2022
About us | Contact
Blockzeit
  • bitcoinBitcoin(BTC)$19,350.191.87%
  • ethereumEthereum(ETH)$1,063.254.01%
  • binancecoinBNB(BNB)$217.342.24%
  • SolanaSolana(SOL)$33.153.57%
  • dogecoinDogecoin(DOGE)$0.0662712.98%
  • Home
    • Business
    • Politics
  • Markets
  • Investing
  • Technology
  • Trends
  • NFTs
    • Metaverse
  • Education
    • Glossary
    • Buy Crypto
      • Buy Cardano
  • Events
    • Metaverse Events
No Result
View All Result
  • EnglishEnglish
    • EnglishEnglish
    • DeutschDeutsch
    • PortuguêsPortuguês
  • Home
    • Business
    • Politics
  • Markets
  • Investing
  • Technology
  • Trends
  • NFTs
    • Metaverse
  • Education
    • Glossary
    • Buy Crypto
      • Buy Cardano
  • Events
    • Metaverse Events
No Result
View All Result
Blockzeit
No Result
View All Result
Home Bitcoin News
GettyImages 1237956184.0

GettyImages 1237956184.0

Crypto Donations Flooding Ukraine

Jay Speakman by Jay Speakman
March 2, 2022
in Bitcoin News
Reading Time: 4 mins read
0
Share on FacebookShare on TwitterShare on LinkedinShare via WhatsappShare via Email

Uniswap, a leading DEX, has created an interface that allows users to exchange any ERC-20 token for Ethereum and donate it to the Ukrainian government in a single transaction.

“We built an interface that swaps any token for ETH and then sends it directly to the Ukrainian government in a single transaction to ensure that everyone who wants to donate ERC-20 tokens to the Ukrainian government can do so,” Uniswap tweeted.

The protocol interface was designed so that “anyone who wants to donate but holds other ERC-20 tokens can do so with one click.”

Crypto Goes Mainstream

Cryptocurrency is now a more mainstream part of the global financial system, which means that it is inevitably a part of international conflict, for better or worse. This is evident as Russian forces invade Ukraine. Millions of dollars in cryptocurrency have been sent to Ukraine’s army and hacktivist groups. Even the Ukrainian government is now accepting cryptocurrency donations and has already raised more than $15 million. 

Some Ukrainians are also turning to cryptocurrency as a substitute for Ukrainian financial institutions, which are restricting access to bank accounts and foreign currency. 

In a situation where governments are in disarray, it is difficult to rely on traditional banks, and there is apprehension about surveillance. As a result, a relatively anonymous system with no government involvement is appealing.

Bitcoin and Ethereum

Following Russia’s invasion of Ukraine, tens of millions of dollars in cryptocurrency were donated to the Ukrainian government and non-governmental organizations.

Earlier this week, the Ukrainian government released a Bitcoin and Ethereum donation address; blockchain records show that these addresses have received more than $8 million and $7 million in Bitcoin and Ethereum, respectively.

The Ukrainian government announced earlier on Twitter that it was now accepting Polkadot donations as well, with “more cryptocurrencies” to follow.

Elliptic, a blockchain analytics firm, indicated the total amount of cryptocurrency donations sent to the Ukrainian government and non-governmental organizations (NGOs) surpassed $20 million yesterday.

A fundraiser called Support Ukrainian Sovereignty claims to have raised $511,000 to date, in addition to donations sent directly to Ukrainian government addresses.

Polkadot Now Accepted

The Ukrainian government also announced that it is now accepting Polkadot cryptocurrency donations in addition to Bitcoin, Ethereum, and USDT donations.

“The people of Ukraine are grateful for the global crypto community’s support and donations as we fight for our freedom.” “We are now accepting Polkadot donations as well,” said the government’s official Twitter account earlier today.

Polkadot founder Gavin Wood responded to the Ukrainian government’s initial appeal for donations on February 27 by saying he would donate $5 million if the Ukrainian government began accepting Polkadot.

Wood was chastised at the time for not simply donating funds in the cryptocurrencies that the government accepted at the time.

Final thoughts

Bitcoin is helping both Ukraine fight Russian aggression and Russia fight sanctions.

Since Russia invaded Ukraine on February 24, 2022, millions of dollars in cryptocurrencies have been donated to the Ukrainian government and non-governmental organizations (NGOs) assisting in the country’s defense.

According to Elliptic, Ukraine’s crypto crowdfunding effort surpassed $20 million on February 27th.

This could be a seminal moment as the Western world unites against the naked aggression of Russia by embracing and using cryptocurrency to defend Ukraine. What better use case could there be than helping a population under attack by a brutal and repressive regime?

For the time being, we can’t fathom how crypto will influence international conflict, or whether it will ultimately help or harm. People fleeing war zones may find a unique use for cryptocurrency, but they must first learn how to use it. There are already numerous other methods of raising and moving money that do not involve digital currencies. And, while cryptocurrency may make it easier to avoid sanctions, countries were evading sanctions long before bitcoin.

What we do know is that bitcoin and other cryptocurrencies are now a real factor in global economies and conflicts around the world. Whether it’s good or bad in wartime, crypto is doing what its supporters claim it does — providing a way for people to work outside of traditional financial institutions — and there’s no sign that this will change anytime soon.

Jay Speakman
Jay Speakman

I write about blockchain, crypto, NFTs and other disruptive technologies and innovations.

Previous Post

FC Barcelona Unveils Metaverse NFT Plans as Roberto Carlos Launches Cryptocurrency 

Next Post

Citadel Boss Ken Griffin Confesses Being Wrong about Crypto and Bitcoin  

Related Posts

BTC price

Bitcoin Price: BTC Rejects 21-Day EMA Spiking Fears of Further Selling

by Vincent Munene
June 30, 2022
0

Bitcoin (BTC) price is still trending at the 20k level further sinking the market into extreme fear. Traders and investors...

Bitcoin price

Bitcoin Price Consolidates As The Market Waits for the Next Move

by Vincent Munene
June 23, 2022
0

Bitcoin has had one rollercoaster of a year, playing with the psychology of most traders and liquidating them to a...

Bitcoin is down over 70 percent from an all time high of $69,000 reached in November 2021. Image: iStock / Getty Images

What Happens If Bitcoin Crashes Below $15,000?

by Jay Speakman
June 20, 2022
0

An early morning (Saturday, June 18th) slide saw Ethereum fall below its key support level of $1,000 and Bitcoin fall...

Load More

Get updates to your inbox!

Subscribe to our mailing list to receive daily updates!

FOLLoW US:

Blockzeit Logo 10 1

Blockzeit was founded in 2021 in Switzerland with the mission of bridging the gap between the complex blockchain technology and the general public. Blockzeit is a news and education platform that aims to make blockchain more accessible and bring more transparency to the scene.

Popular Categories

Categories
  • Bitcoin News
  • Business
  • Buy Crypto
  • Education
  • Investing
  • Markets
  • Metaverse
  • NFTs
  • Politics
  • Press Release
  • Switzerland
  • Technology
  • Trends
  • Uncategorized

Important Links

  • Privacy Policy
  • Disclaimer
  • About us
  • Contact us
  • Blockchain Jobs
  • Events

Contact & Social

For guest posts, contact us via info@blockzeit.com

 

Contact: info@blockzeit.com
Press: press@blockzeit.com

Facebook Twitter Linkedin Instagram
  • Home
  • Markets
  • Investing
  • Technology
  • Trends
  • NFTs
  • Education
  • Events
© Copyright by Blockzeit.com. All rights reserved.

Disclaimer

No Result
View All Result
  • Home
    • Business
    • Politics
  • Markets
  • Investing
  • Technology
  • Trends
  • NFTs
    • Metaverse
  • Education
    • Glossary
    • Buy Crypto
      • Buy Cardano
  • Events
    • Metaverse Events
  • DeutschDeutsch
  • PortuguêsPortuguês

© 2021 Blockzeit by Blockzeit.