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Dec. 12, 2018
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Ukraine’s former prime minister Yulia Tymoshenko wants to counter corruption using blockchain technology — according to a recent Facebook post of her own.

Tymoshenko — who was prime minister of Ukraine in 2005 and from late 2007 to early 2010 and is now running a presidential campaign for the March 2019 elections — declared that Ukraine is involved in “total corruption” and specified the blockchain technology as an effective tool to prevent it.

For the most distracted: it was not the first time the controversial politician mentioned the blockchain technology for this purpose.

“Blockchain is a perfect anti-corruption technology, which is proven by international practice. In order to completely eliminate corruption in public registries and to protect each citizen's personal data, we have to transfer all administration systems to blockchain.” — Were Tymoshenko’s words at a forum in Ukraine’s capital Kiev last June.

And the blockchain technology is also not new to the country — which is quite opened to the sector, supporting blockchain and crypto adoption.

For example, the Ukrainian Electoral Commission held a decentralized voting pilot this year using the NEM blockchain; the country is considering the issuance of a state-owned cryptocurrency based on a blockchain and tied to the national fiat currency; and Ukraine is home to an increasing number of startups focused on blockchain.

Why it is important

  • Ukraine is considering the advantages of blockchain technology apart from the hype and the current bearish trend defining the crypto ecosystem — and is effectively implementing measures related to the sector. These initiatives lighten the unenthusiastic scepticism felt around the sector in some circles and may encourage other governments and institutions to carry out similar initiatives.

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