The event called “Cryptocurrencies and blockchain technologies as an instrument of economic development” is organised by Donetsk company Bitcoin-Donbass. IT-experts from Russia are among the guests.

This is the first ever event concerning bitcoin and blockchain technology implementation in the self-proclaimed Donetsk People’s Republic. 

Three Russian blockchain experts are invited to take part as speakers: Dmitry Yermolayev, leading developer at Data Chains World blockchain startup, Rustam Davletbayev, economist and bitcoin enthusiast and Roman Morgunov, CEO of the company-organiser Bitcoin-Donbass. All of them will make presentations via Skype.

Yermolayev will be speaking on “Using blockchain in state administration,” Davletbayev will present the paper “Free money, consumer communities and blockchain. What unites them and why it is a breakthrough,” and Morgunov will report on “Decentralised Autonomous Organisation — a way of investment raising and much more.”

Bitcoin-Donbass is an enterprise created for development and popularisation of the blockchain technology in DPR. The startup, created in 2015, is “supporting entrepreneurs and all interested individuals,” its website says.

Bitcoin-Donbass offers international cryptocurrency transfers to and from DPR. Bitcoin transactions allow emigrants who fled the war zone to save on money transfers to their families. “Bitcoin inter-state transfers are real even in the conditions of economic blockade,” the company says on its website. It is also noted that the enterprise is actively cooperating with the authorities. Cryptocurrencies are widespread in Donbass in the time of crisis. Bitcoin is used by both ordinary citizens of the self-proclaimed republic and the military involved in the conflict.

DPR banks, which work under the jurisdiction of the Central Bank of DPR, and not Ukraine, are switched off from SWIFT international system. The most popular money transfer systems in DPR are Western Union, which work with all Ukrainian and Russian banks, and bitcoin. Thus, the winner of last year’s Cryptocoinnews contest was a story by an American bitcoin user about his family using bitcoin to send money to DPR. The author noted that in DPR it was possible to buy a variety of goods for bitcoins.

According to reports, the parties fighting in the military conflict in Eastern Ukraine make active use of bitcoin to buy weapons and ammunition. The deals are made on the dark web. Bitcoin is popular with both sides of the conflict.

Elena Platonova