Ukrainian lawmakers and VAU proposes a roadmap to Web3 Adoption

• Anshika Bhalla
• May 03, 2024

A coalition of pro-crypto Ukrainian lawmakers and a group of citizens, Blockchain4Ukraine and Virtual Assets of Ukraine (VAU), have revealed a plan to advance and grow Web3 in the country. The paper’s co-authors allegedly put their signatures on it on November 14.

The roadmap is a strategized plan of measures for promoting Web3. The plan includes measures like developing a national blockchain-supported land and realty register rollout of a regulatory sandbox for various Web3 and blockchain initiatives. The design of a “blockchain plan” to reconstruct the nation following the war is also suggested, as is Ukraine’s inclusion in the European blockchain community.

Along with exploring methods to integrate blockchain technology into Ukraine’s healthcare and educational sectors, VAU and Blockchain4Ukraine also plan to work on a self-sovereign identification pilot project.

The corporate and scientific groups are on the roadmap’s list of prospective partners, civil society, and non-governmental organizations. The roadmap-creating team will draught several measures to forward its goals on a governmental level..

The European Blockchain Partnership, a project created by the EU’s 27 member states to provide cross-border public services, welcomed Ukraine in June, making it the third non-EU nation to do so. During the period, the CEO of VAU, Konstantin Ermolenko, unveiled the country’s interest in executing a test node of the European Blockchain Services Infrastructure and model applications of the blockchain-based cross-border public service.

Volodymyr Zelensky, the president of Ukraine, signed the bill “On Virtual Assets,” the nation’s first significant cryptocurrency-related legislation, in March 2022. The National Bank of Ukraine and the National Securities and Stock Market Commission of Ukraine were proposed as the two prime regulators of the crypto market in the bill. 

Through the government-controlled Crypto Fund of Ukraine, Ukraine has collected over $100 million in bitcoin donations since the start of the Russian invasion in February 2022.

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