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Ukraine Government Office To Use Fantom Blockchain To Exchange Intellectual Property

Ukraine Government Office To Use Fantom Blockchain To Exchange Intellectual Property

The Ministry of Digital Transformation of Ukraine signed an agreement with the INTELMAX Management Consulting for creating a platform on the Fantom blockchain for the exchange of intellectual property. 

They have also planned to bring blockchain technologies into other government processes and services.

Ukraine Leads Crypto Adoption As Per Chainalysis

Popular blockchain analytics firm, Chainalysis, revealed last year that Ukraine is leading the way when it comes to retail crypto adoption. As per the company's Global Cryptocurrency Adoption Index, Ukraine, Russia, and Venezuela are the top three countries for cryptocurrency adoption. They are followed by China, Kenya, and the U.S.

Ukraine Government Attracts Investments For Further Growth

Ukraine and UAE have reported signed memorandums and contracts exceeding $3 billion. As per the official Ukranian presidential press service:

"As part of the official visit of Ukrainian President Volodymyr Zelensky to the United Arab Emirates, the Ukrainian delegation signed a number of memorandums and contracts totaling $3 billion or more."

These memorandums were signed between the State Property Fund of Ukraine and the Mubadala investment company. The cooperation aims to ensure the participation of the UAE side in the privatization of state-owned property in Ukraine.

"At all international meetings, I urge to invest in Ukraine. Our state has enormous potential: geopolitical position, natural resources, people of knowledge. Right now is the time to understand this potential and create a strong economy," Zelensky noted.

Zelensky also observed that attracting these types of investments is absolutely crucial to Ukraine's economic growth. 

"The signing of a memorandum with the Mubadala investment company of the government of Abu Dhabi on intentions to invest in Ukraine is a very important step in opening the way for major investments in Ukraine from Western Asia."

A Ukrainian Sovereign Fund Is In The Works

The President's office has also revealed a strong possibility of opening a Ukrainian sovereign fund for joint investments.

"Along with this, some 18 Ukrainian private companies, including Interpipe, Dragon Capital, DTEK, Unit City, EastOne, UMG, Ufuture, Fortior, signed memorandums with the Mubadala state investment fund." 

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

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