April 13, Ukraine’s state agency for e-governance and BitFury have signed a historic memorandum of cooperation. A few days later, the country’s Ministry of Justice announced it was ready to deploy blockchain technology within SETAM, the system for escheat sales, and the ministry’s basic ledgers.
Ukraine has partnered with global technology company the Bitfury Group to put a sweeping range of government data on a blockchain platform, the firm’s chief executive officer told Reuters, in a project he described as probably the largest of its kind anywhere.
Rumors of Ukraine’s largest commercial bank PrivatBank inevitable nationalization have been circulating for a long time. One may only guess whether the new record set at Ukraine’s LocalBitcoins last week has anything to do with that; however, the USD exchange rate in Ukraine definitely has, as millions of the bank’s.
Over the past week, the volume of bitcoin transactions on LocalBitcoins in Ukraine has reached its all-time high peaking at 2,283,083 hryvnias (almost $87,000.)
According to Sergei Shatski, the head of retail payments department at the National Bank of Ukraine, the country’s banking system is well-developed technologically, however, the regulator needs more time to check everything before actually implementing blockchain technology.
The National Bank of Ukraine has banned four payment systems, namely WebMoney, Yandex.Money, QIWI Wallet and Wallet One. The reason for the decision, which may positively influence cryptocurrency markets, is said to be the lack of the regulator’s approval for service rendition.
Dmytro Golubov, Ukraine’s Member of Parliament (Verkhovna Rada) and leader of the Internet Party, has revealed he owns about $3 mln in Bitcoins.
Recent statements from the National Bank of Ukraine signify the regulator’s intent to use blockchain technology in their Cashless Economy project.