Saturday, June 05, 2021

Ukraine Wants to Be Cryptocurrency Central

Recommendable! Amazing! If you have the energy to mine cryptocurrency ... Behind it e.g. some investment firms located/registered in Malta & Cyprus ...

"... A plant for mining bitcoin, a process by which computing power is effectively exchanged for the cryptocurrency, will soon rise near Zaporizhzhia Nuclear Power Plant, not far from Ukraine’s border with Russia. Zaporizhzhia is Europe’s largest nuclear power plant, but the to-be-constructed cryptocurrency operation—signed by Ukraine’s government-owned nuclear plant operator Energoatom and a private firm called H2 last year and involving a $700 million investment ...
Another bitcoin-mining plant is being built next to the Rivne nuclear plant in western Ukraine, a three-way partnership between Energoatom, a regional authority, and Bitfury, a Dutch company that specializes in building Bitcoin infrastructure. ...
So far, Ukraine already has around 100 companies in the cryptocurrency sector, according to the government, even without the legislation having been fully passed. According to a new report by the cybersecurity firm Hacken and the Ukrainian Venture Capital and Private Equity Association, between July 2019 and June 2020 $8.2 billion worth of cryptocurrency went out of Ukraine, while $8 billion worth arrived in the country. The country’s average daily cryptocurrency transaction volume now corresponds to $150 million to $200 million.

“Once we pass the legislation, Ukraine will become one of the world’s very top destinations for cryptocurrencies,” Bornyakov said. “There are not that many countries that are crypto-friendly, so companies go to the ones that are.” When the legislation is in place, he estimates, Ukraine could become home to around 2,000 cryptocurrency firms. ..."

Ukraine's Cryptocurrency Bet Could Make Corruption Worse Kyiv’s big bet on digital money could backfire and make the country’s corruption problems worse.

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