State Dept Weighs in On Using Blockchain for Tracking Ukraine Aid: Report
Pexels.com/Karolina Grabowska
Main page News, Russia, Ukraine, Blockchain, US
Hot topic
Dec. 14, 2022

The US Department of State is seeking a set of options, including blockchain, to track the billions of dollars in US weapons and other aid for Ukraine, POLITICO has learned, citing the "sensitive but unclassified" document.

Subscribe to our Telegram channel to get daily short digests about events that shape the crypto world

One of the tools mentioned in the document describes a "commercial smartphone app that uploads all photo and video media onto a blockchain at the point of capture."

"The app will provide reliable, tangible evidence that assistance is reaching intended recipients, even in locales too dangerous or difficult for program implementer staff to reach," the document reads.

Ukraine to Update its Law on Cryptocurrencies to Comply with EU Requirements

Although the report has no other details about the application, it says that the White House is planning to hire an unnamed US firm by February to implement a "special three-year initiative to help the oversight effort."

In May, the Senate approved a $40 billion emergency military and humanitarian aid for Ukraine in an effort to help the country in a massive battle against Russia.

President Joe Biden thanked the Congress for sending a "clear bipartisan message to the world that the people of the United States stand together with the brave people of Ukraine as they defend their democracy and freedom."

Access more than 50 of the world's financial markets directly from your EXANTE account – including NASDAQ, London Stock Exchange and Tokyo Stock Exchange

Read also:
Please describe the error
Close