Author Topic: Ukraine's Baby Step to Blockchain, Cashless Society  (Read 1405 times)

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Offline David Rochlin

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Ukraine is preparing to auction state assets using Blockchain as bitcoin gradually becomes part of the country's economy:
https://www.forbes.com/sites/realspin/2017/03/20/ukraine-is-silently-leading-a-digital-currency-revolution/#26600b3465cc



To me, it seems perhaps better for Ukraine to create and control its own blockchain currency.   Potentially, owning a currency is a source of revenue for Ukraine, and basically it is being given over to bitcoin entrepreneurs, mostly outside the country.   I mean, why not use dollars then?
   I guess these auctions don't mean Ukraine's currency will be bitcoin.  Maybe bitcoin for the auctions is a sort of dry run for Ukraine's own brand of digital currency?   
« Last Edit: 11:17 21-Mar-2017 by David Rochlin »


Offline Ted

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Re: Ukraine's Baby Step to Blockchain, Cashless Society
« Reply #1 on: 04:31 12-Jun-2017 »
Ukraine is preparing to auction state assets using Blockchain as bitcoin gradually becomes part of the country's economy:
https://www.forbes.com/sites/realspin/2017/03/20/ukraine-is-silently-leading-a-digital-currency-revolution/#26600b3465cc



To me, it seems perhaps better for Ukraine to create and control its own blockchain currency.   Potentially, owning a currency is a source of revenue for Ukraine, and basically it is being given over to bitcoin entrepreneurs, mostly outside the country.   I mean, why not use dollars then?
   I guess these auctions don't mean Ukraine's currency will be bitcoin.  Maybe bitcoin for the auctions is a sort of dry run for Ukraine's own brand of digital currency?

Yes by all means let's invest in digital currency in one of the most corrupt governments in the world, let's spend actual currency for VR money....splendid another way to lose money have your money stolen.

Offline David Rochlin

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Re: Ukraine's Baby Step to Blockchain, Cashless Society
« Reply #2 on: 05:26 12-Jun-2017 »
Today, Ukraine's more thrifty corrupt goverment is coining worthless coins that are mainly suitable for exercise, and small bills that even Russians wouldn't use for toilet paper.  Ending currency printing saves money. Advocates of blockchain in Ukraine claim that cryptocurrency, in control of the Government, actually reduces corruption, and other crime,  because of paperless trails.  Since I started this thread, you can see blockchain signs at various locations in Kyiv.  I am not sure if it goes much further than just bitcoin, though.

Offline steveo

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Re: Ukraine's Baby Step to Blockchain, Cashless Society
« Reply #3 on: 06:06 13-Jun-2017 »
Advocates of blockchain in Ukraine claim that cryptocurrency, in control of the Government, actually reduces corruption, and other crime,  because of paperless trails. 

And there you have it David, a bit like requiring Euro Standard 5 car imports, while at the same time not having any roadworthiness standards or checks for your own car fleet, so completely rusted out Lada from the 80s, belching out fumes, along with its home-made gas CNG system is fine, whereas a six-year-old imported Renault Euro Standard 4 is environmentally dangerous! Or the coal deals...the banking sector thefts...the health sector reforms...the court reforms...the list goes on, if it reduces corruption, it is going to be a hard-sell getting it through the RADA.

Even more so, as a large sector of the population doesn't trust modernity, digitisation, and don't understand it, and prefer to carry out huge wads of paper, keeping stacks of it at home in safes...It's the way of the future, but Ukraine's systems haven't really changed since the dissolution of the USSR, despite the window-dressing reforms.