The buildup started about a year ago when Russian troops began to station themselves at the Ukrainian border. The U.S. met with Russia in Geneva back in January, but the issues remained unresolved. Then, earlier this month, Western powers started calling for sanctions against Russia and are now imposing them as the Russian invasion of Ukraine has become a reality.
However, Ukraine is not alone. With plenty of help pouring in from different directions, Ukraine has support from around the world. And much of that support is coming in the form of Bitcoin donations. For example, the independent organization Come Back Alive lists its Bitcoin wallet for anyone who wants to support the Ukrainian military.
The Invasion Ramps Up Donations
The contribution page has become highly active lately after the invasion. The Ukrainian military has received about $400,000 for equipment and supplies. Throughout the military, it’s known as beans, bullets, and bandaids. Feed the troops, arm them, and keep them healthy. That’s how the funds are mainly being used.
However, one fascinating use is to purchase drones that have become increasingly effective in more recent conflicts. Facial recognition applications are another effective use. With a database of known Russian operatives, facial recognition software can quickly scan a sea of people and identify significant targets like spies and mercenaries. So, drones equipped with facial recognition software are a game-changer.
Troops Are Coming
Troops from around the world are on their way to help fight alongside the Ukrainian soldiers. But can you imagine Ukrainian President Volodymyr Zelenskyy calling for citizens to volunteer? Instead, he announced Kyiv will issue weapons to anyone who shows up. But think about what that looks like.
Picture this; Citizens leaving their homes in their plain clothes and whatever footwear they have. Some might have weapons while others won’t. It’s a terrifying thought. These immediate funds will feed, equip, train, and arm volunteers, while medical supplies will hopefully save their lives.
Funding a military operation has never been done like this before. Wiring money is adequate, but the physical cash has to eventually get from Point A to Point B. Then there is Gold which can potentially back a war, but that’s an even more challenging way of supporting a conflict. Crypto travels lightning fast. It’s the most expedient method than any that has ever existed before. Ukraine will benefit from all the support it’s getting, but mainly the financial support Bitcoin can provide.
Go bank, Yourself!