Over the past 12 months, Russia’s full-scale invasion of Ukraine has led to the displacement of over 14 million individuals. This disaster has left many with out entry to fundamental requirements equivalent to meals, shelter, and monetary sources. Nevertheless, the introduction of cryptocurrency within the type of USDC has supplied an modern resolution to assist refugees rebuild their lives. On this article, we discover the usage of crypto in Ukraine and the way it’s altering the lives of refugees.
The United Nations Excessive Commissioner for Refugees (UNHCR) has been working tirelessly to supply help to refugees in Ukraine for the reason that battle started. So as to attain as many individuals as attainable, they’ve launched a brand new method of delivering help within the type of cryptocurrency. Particularly, the UNHCR has been utilizing the USDC coin, which is locked to a $1 valuation and hosted on the Stellar community. This offers refugees with a secure and dependable type of foreign money that they’ll use to buy fundamental requirements.
Using cryptocurrency has many advantages for refugees in Ukraine. Firstly, it offers a safe and accessible solution to entry monetary sources. With the usage of smartphones, refugees can simply entry their digital wallets and alternate their USDC for native foreign money at any MoneyGram facility. This enables refugees to buy the essential requirements they should survive, equivalent to meals, shelter, and medical provides.
Secondly, the usage of cryptocurrency offers refugees with a extra clear and environment friendly method of receiving help. Conventional strategies of delivering help, equivalent to money or bodily items, can typically be gradual and bureaucratic. Cryptocurrency permits help to be delivered shortly and on to those that want it most, with out the necessity for intermediaries. Which means that help might be delivered extra effectively, and refugees can obtain the assist they want immediately.
Lastly, the usage of cryptocurrency will help refugees to rebuild their lives. By offering them with a secure and dependable type of foreign money, refugees can spend money on their schooling and begin companies, which may…
