Kiev Bitcoin Conference Draws Big Turnout, but Challenges Remain



A strong turnout of engaged listeners at the recent Blockchain & Bitcoin Conference in Kiev reflects the high level of bitcoin interest in the Ukraine as it fights recession, according to NASDAQ.

One of the main speakers, however, Max Krupyshev, COO of Cubits, a London-based bitcoin wallet and exchange, noted bitcoin faces some big challenges in that country.

Krupyshev spoke to a packed hall in the beginners track about bitcoin basics, including proof-of-work and bitcoin addresses. He noted afterward that the attendees were engaged listeners seeking to learn more about bitcoin and blockchain technology.

Bitcoin Demand Strong

Demand for bitcoin is strong in the Ukraine, largely on account of a recession caused by war in the Eastern part of the country. The hryvnia, the national currency, lost around 70 percent of its value over the past two years.

Many Ukrainians are likely looking at bitcoin as a hedge against inflation, as a way to hide funds, to send money abroad, as an investment, or a job opportunity, Krupyshev said. He noted that people who work as programmers are among the few making good incomes.

The Kiev conference is now in its third year and has grown every year. This year’s conference drew 600 compared to 400 last year, according to Pavel Likhomanov, conference coordinator. Likhomanov said fintech, blockchain and bitcoin are becoming increasingly popular in Eastern Europe, particularly in Ukraine.

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