December 4, 2022

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The Government of Ukraine has launched a cryptocurrency donation page

The government of Ukraine has launched a donation site with cryptocurrency platforms. “Cryptocurrencies play an important role in the defense of Ukraine,” Deputy Digital Minister Oleksandr Bornyakov said on Monday. These “facilitate the flow of funds for Ukrainian citizens and soldiers.” Aid for Ukraine allows users to make donations in ten different cryptocurrencies, which are then converted into dollars.

Almost $50 million has already been raised overnight, according to a tracker on the site. The statement said the money would be used to support the Ukrainian military as well as civilians who are “in dire need of humanitarian aid”. In addition to the Bahamas-based FTX platform, Ukrainian companies Everstake and Kuna are also participating in this initiative.

In the future, it should also be possible to introduce NFTs. NFT stands for Non-Fungible Token and is a unique, non-fungible virtual asset. NFTs are traded online in amounts in the millions.

Like cryptocurrencies, the NFT system is based on blockchain technology. Unlike cryptocurrencies, a non-fungible token is a unique and, to some extent, a digital collector’s item that can be sold or exchanged using a certificate.

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