Ukraine is one of these countries where people require no explanation about the value of hard money. As war in the east of the post-Soviet country helped put its economy into a recession, the Ukrainian national currency — the hryvnia — lost some 70 percent of its value over the past two years. Perhaps that’s why demand for bitcoin has increased significantly in that country. And also why the Blockchain & Bitcoin Conference in Kiev on September 23 attracted a large and engaged audience. The Bitcoin Alternative Early in the morning, at the start of the conference, Cubits COO Max Krupyshev addressed a packed Rookie Hall, one of the three spacious conference rooms. Going over the basics of blocks, Bitcoin-addresses and proof-of-work in his native Ukrainian, Krupyshev faced a crowd full of questions and requests for details. “The audience engagement at this conference is really impressive,” Krupyshev told Bitcoin Magazine after his talk. “People here are really curious about Bitcoin and blockchain technology. They’re not passive or bored listeners. [They] actually want to know how it works and what it does, asking questions accordingly.” Krupyshev believes Ukrainians may be looking at technologies like Bitcoin, blockchain and other distributed ledgers as a potential alternative to their current economic situation. “Ukraine has fallen on tough times, economically and financially. Many people may be considering Bitcoin as a potential way out, maybe as a hedge against inflation, but perhaps also to hide money, or to send money abroad, or as an investment — or as a job opportunity. Wages in this country are low. Among the few people making good money are programmers. If you live here and learn to understand this upcoming technology, it may present an opportunity to improve your style of life.” The Conference The Blockchain & Bitcoin Conference […]
