Expert: Blockchain Is the Only Option to Solve Ukraine’s Fundamental Problems

09.03.2016

Blockchain technology is the only option to solve Ukraine’s fundamental problems, including corruption, reforms, and non-transparency of elections, expert Mike Chobanyan told ForkLog.

About two weeks ago, Chobanyan became a chairman at the public council for state financial monitoring service of Ukraine. Founder of Kuna Bitcoin Agency and local cryptocurrency exchange, which had raised in excess of 200 BTC during a crowdfunding campaign, Chobanyan believes that former Soviet republics will become the heart of blockchain revolution in five years’ time.

“Even today, blockchain is among the main trends in fintech and public services. By the end of the year we’ll have completely different conditions and a completely different attitude towards both bitcoin and blockchain. The Odessa’s auction is a precedent chainging everything,” Chobanyan commented on the launch of state property privatization system.

According to Chobanyan, after the system has been successfully tested, it will launch in other Ukrainian regions, while other countries will be empowered to use it free of charge.

“For better or worse, there is no real alternative for blockchain in Ukraine and neighbor countries. The technology may reduce impact of state officials on private and public sectors in tens of times. And, as you know, no official, no corruption,” he remarked.

As a reminder, in late February, an auction platform for state property privatization was launched. The system’s testing will take place in Odessa, Sumy, and Kyiv. In addition, a memorandum on creating so-called E-Vox, an electronic voting system on top of Ethereum blockchain, was signed in February. The system will be released by the end of 2016.

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