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Critics say the cryptocurrency will help Russia avoid sanctions, or at best it does not help the Ukrainian people. In fact, it seems to be a powerful tool to help them.

Crypto donations to Ukraine since its attack totaled about $ 100 million. Blockchain networks are global and resolve transactions in minutes, and the legacy banking system takes three days to process cross-border transactions. Many crypto donations went directly to wallets held by the Ukrainian government through the Ministry of Digital Transformation. Deputy Minister Alex Bornyakov said last week that 40% of Kyiv merchants working with them have accepted payments in cryptocurrency, and that crypto donations are "significant." He noted that since "the national bank does not really work, crypto helps to transfer money faster, make it faster and get results almost faster."

Crypto donations make a difference to the people of Ukraine, inside and outside the country. The Ukrainian banking system does not work at all, but large crypto exchanges are available 24/7 from the phone or computer.

Crypto-based partnerships such as the Unchain Fund and the UkraineDAO (abbreviation for the private sector) formed in the first few days of the crisis. Unchain has raised more than 6.9 million of the 10 cryptocurrencies since Feb. 25 to get transportation support, transportation, food and medicine. Three million Ukrainian immigrants need housing, living expenses, and psychological and professional support. Crypto has proved useful for disenfranchised people, who need access to stable finances and the ability to convert crypto into fiat currency in a flexible manner. We are also distributing the Unchain Help Card, a crypto-to-consumer debit card, to help mothers with young children purchase resources.

Now we turn to long-term solutions. Groups like Away from Ukraine connect deported Ukrainian people to share support, news, job opportunities, international travel resources, health care, and other immigration challenges in the new country.

Empowering individuals and lowering access restrictions is a big part of why I jointly developed the NEAR Protocol and why I believe in crypto and Web3, a blockchain-based internet hosting platform. Our vision is to make it possible for all people to have their own data, assets and power. This war explains why that idea is so important: Current global power systems do not provide this opportunity for everyone, and they can quickly collapse under pressure. We have the tools to build efficient, robust systems that work for everyone.

source: yahoo

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