In an interview with Coindesk TV on Wednesday, Michael Chobanian, founder of Ukrainian crypto firm Kuna, spoke about the difficulty of buying cryptocurrencies locally, the uncertainty of the local economy, and the use of blockchain in the current geopolitical turmoil.
Ukraine’s local currency devaluation problem has worsened. Since February 16, Ukraine’s currency UAH has depreciated by 6%. In a worst-case scenario, Ukraine’s internet and the entire banking system could collapse, and cryptocurrencies could be a safe haven.
Talking about the future prospects of the cryptocurrency industry during this crisis, Chobanian said he is concerned about the lack of investment in the country and the bleak economic outlook in the near term. However, there are also opportunities for new systems such as blockchain companies to enter Ukraine.