National Bank of Ukraine to Support Blockchain Technology Development

National Bank of Ukraine (NBU) is interested in further development of high-tech financial market in Ukraine as it will positively influence implementation of the Cashless Economy project.

This statement was made by Serhii Shatsky, Director of Payment Systems and Innovative Development Department during a roundtable organized by the NBU and Maybutne magazine last week. The event was attended by foreign experts, lawyers, representatives of the domestic fintech projects and innovative companies of the classic financial industry.

“NBU is committed to assist the Ukrainian payment market to become mainly cashless; for that end, latest financial technology may be useful. Therefore, we try to keep open the dialogue with market. In return, we also look into solutions, which could facilitate payments both for citizens and SME. Among such are cloud technologies, mobile payments, QR-codes to pay for goods and services, Blockchain based solutions, which are set to prove their viability in payments area,” said Serhii Shatsky.

According to the NBU representative, an important criterion for the successful implementation of the financial start-ups is understanding who will be the client for the future product.

“At the same time, we need to upscale those technological solutions, which will become popular in the market and be in demand. Today, we need to pay attention to low-cost technological solutions for micropayments,” added Mr Shatsky.