128
The adoption of Bitcoin by El Salvador has been a pretty hot topic both internationally and even on this site as people have differing views and both sides are pretty ingrained in their view. El Salvador has had a pretty bumpy rollout though as seen with the relaunching of the Chivo wallet and the overall sentiment does not seem to show the widespread adoption that I believe people thought there would be. At least publically I have personally not seen the development I thought I would have out of the country.
This is where Ukraine I believe shows it is ahead of the curve in how the state and most importantly the people are behind the use of Bitcoin. As I have written about in my part one post Ukraine was really gearing up to be the crypto capital of at least Europe if not the world. Russian aggression has put a huge damper on that and now that they have massed 130,000 troops along two sides of the country it's a very tense time on if they will cross into the country. It was announced today how Activists and Non-Government Organizations, commonly known as NGOs, have been raking in Bitcoin donations to help support the Ukrainian effort against Russia.
From what I have seen, read, and researched this is a huge difference between the two countries. NGOs play key roles in both countries since they are developing countries so to see these organizations adopt cryptocurrencies especially Bitcoin is a huge deal. In Ukraine, the hundreds of thousands that have been received in Bitcoin have been deployed for a variety of things including providing military equipment and medical supplies to those how have begun to train to take up arms if Ukraine is invaded.
Now, this is something that is occurring that I am not sure I am 100% behind because it does appear that this could easily lead to wars being crowdfunded and that I feel would lead to further regulation. A couple of NGOs that have been identified as accepting/receiving $100,000's in crypto provide military equipment and another one actually is outspoken about launching cyber attacks on Russian targets which I feel could lead up to Russia trying to justify an invasion. At the same time, the separatists in Eastern Ukraine have done the exact same thing so this is where the issue, in particular, gets "sticky" as both sides should be treated equally so it isn't like the Ukrainian sided one should be penalized while the separatists get away with it.
I do not think there is a "correct" answer here as this is a huge gray area but I do think it is something that the crypto space itself needs to try and address before some government or regulator decides to get involved. This is something though that I think shows the different levels of adoption within different countries and how Ukraine in particular is much farther along than most people would give them credit for! NGO involvement is going to be key for crypto to continue its march to go mainstream and I hope to start seeing more NGOs across the world adopt crypto donation and for rules and regulations to be cleared to allow this to happen.
Please know I am not a financial advisor I am just someone who picked up on a trend and wanted to express it! Makes sure you always do your own research and never invest money you cannot afford to lose! If you enjoyed this article and would like to further support me below are a couple of referral links that if you used when signing up I would appreciate it! Also, follow me on Twitter @Cje95_
Robinhood
If you do not already have a Robinhood account if you sign up and link your bank account we both earn FREE stock! You also will be put on the waitlist for crypto wallets as well! Don't forget Robinhood crypto trading is commission-free! ??
Fold App
Offers daily wheel spins to win free sats daily! If you sign up for FOLD with my link you will get 5,000 sats for free!
Unstoppable Domains
Sign up using my link and get a free $10 credit towards your first $40+ purchase!
Sign up for COINBASE and earn $10 of free Bitcoin when you buy or sell $100 in crypto with my referral
If you are like me and walk to work every day this app rewards your walking with Sats! So far I have earned over 4,000 sats in just a couple of months walking to work! is my link!
