How does the block chain payment system empower Ukrainian defense development?

According to a report of Elliptic, the block chain tap company, Ukraine’s national defense work has been promoted by the Bitcoin donation in 2021.

In 2021, Bitcoin worth more than $ 500,000 is used in crowdfarate government organizations and volunteer groups. This amount represents more than 900% from Bitcoin contribution than 2020.

In 2014, the Ukrainian army actually watched in the Ukrainian army, many of the “Volunteer Organization” is actually civilian soldiers, and they are mainly supplied to the Ukrainian army. Among them, their funds are mainly from private donors.

Although the Elliptic report pointed out that encrypted currency still only accounts for a small part of the funds allocated in the fundraising activities, it is a increasingly common financing method. Elliptic also emphasized the advantages of digital currency in cross-border payment, “more easily accessible to overseas donors.”

Previously, most of private donors chose to use bank wire transfer and payment applications; today, they prefer to use Bitcoin to avoid their payment may be rejected. In addition, the accounts associated with various fundraising activities have been closed by financial institutions.

Elliptes list various examples of Ukrainian organizations that receive funds. One of the organizations is Come Back Alive, which received nearly 200,000 US dollars in the second half of last year. The organization is mainly supported by the Ukrainian army.

Another organization, the Ukrainian Network Alliance, provides funding through encrypted monetary. It received nearly $ 100 million in last year than Bitcoin, Leitcoin, Tanfront and stable coins. The Ukrainian Network Alliance mainly carries out network actions against Russia.