The conflict between Russia and Ukraine continues as the war seems no way near to an end. With no substantial indications coming through about its conclusion, life goes on with natives accepting and getting used to lemons thrown at them by the two national polities. Amid the ongoing war, several Ukraine-based companies like crypto-staking firm Everstake, acted as an example as it continued work nobly even in such harsh situations.
Crypto has been a notable aid for the citizens as it served as a medium to facilitate monetary help without other potential methods. Crypto donations to Ukraine are assumed to be worth hundreds of millions of dollars. The Ukrainian government collaborated with several crypto firms, in regard to these donations that include names like crypto exchange Kuna, staking provider Everstake, and now bankrupt exchange firm FTX.
Keeping its operations even amid the war has made Everstake ‘stronger.’ The company was found struggling to run the business. CEO Sergey Vasylchuk noted that he was preparing to counter the risk to the company and its employees even before the war started. Many Ukrainian citizens were not able to get on with their work.
Vasylchuk expressed stress about realizing his responsibility for the livelihood of about 300 people, 100+employees, and their family members.
With the company’s partnership with the government, the work started with launching a platform specifically for aid Ukraine. Over 60 million USD was collected in different cryptocurrencies and fiat. All this will be allocated to distinct purposes, including military equipment, medical facilities, humanitarian projects, etc.
Ukraine’s minister of digital transformation, Mykhailo Fedorov, stated, “while Russia uses tanks to destroy Ukraine, we rely on revolutionary blockchain tech.”
Since the war started in February last year, the financial aid for Ukraine worldwide has crossed over 100 billion USD. The United States topped the list of donors facilitating more than 75 billion USD alone. Their aid primarily serves allocations for military affairs, humanitarian, and national finance.
According to Vasylchuk, though there was a requirement for a lot of funds and what they received was like a small drop, it was still better than nothing. He added , “Everstake became much stronger.”
Forget work from home’s comfort aside; the employees were working even from emergency shelters at several locations. It has been the scenario for about a whole year now. It became the new normal for employees to work amid situations like explosions, noise, and consistent power cuts.
The CEO stated, “Right now, I can’t imagine what would scare us, what things could challenge us, to impress us — like ‘this is a disaster.’ We definitely could be ready for anything right now.”
Russia and Ukraine have been at war since 2022 followed by the aftermath of the former’s military operations that began on February 24, 2022. Crypto assets acted for both countries according to their purposes. Russia tried to evade the sanctions imposed by the US and EU nations using them, while Ukraine received significant aid in cryptocurrencies.
Nancy J. Allen is a crypto enthusiast and believes that cryptocurrencies inspire people to be their own banks and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning.
Source: https://www.thecoinrepublic.com/2023/02/26/russia-ukraine-conflict-made-this-crypto-firm-stronger/