Cooperation for Assistance to Ukraine
Cooperation for assistance to Ukraine. The United Nations (UN) recently partnered with the Stellar Development Foundation to launch a digital financing system powered by the Stellar network. High-tech systems with the ability of Circle’s USDC, Vibrant and MoneyGram International to ensure fast and safe transfers of people suffering from poverty around the world, providing unprecedented traceability and conclusions. The plan was revealed through a press release from the Stellar Development Foundation (SDF).
Therefore, despite the huge chaos in the crypto industry this year, blockchain technology is still finding new and useful cases. A prime example is Ukraine’s adoption of cryptocurrency and blockchain as an alternative means of financing when traditional channels fail. Adoption of digital resources can be encouraged by showing that even in times of crisis, there is room for growth through new technologies.
UN Sends USDC Directly Through Stellar
The United Nations High Commissioner for Refugees (UNHCR) plans to send funds to Ukrainian refugees and displaced persons under the rescue operation through USDC stablecoins. As stated on their website, they take advantage of Stellar Aid, which allows them to provide financial assistance directly to eligible Ukrainians through the USDC.
Eligible Ukrainians can register with an authorized humanitarian agency and receive assistance through a strong wallet. Then they can exchange digital money for real money at any MoneyGram branch. Since Ukraine’s banking system is in turmoil due to war-related problems, many citizens cannot send or receive money regularly.
Working with Stellar and Vibrant, the United Nations has developed a method that will transfer money faster than before, while reducing costs. Ukrainians no longer have to worry about bank accounts or credit cards; they can now qualify for financial aid without both.
With Stellar and the International Rescue Committee (IRC) working together, 33 of their respective 100 goals were achieved in December alone. IRC is an NGO that helps people affected by political, religious and ethnic conflicts. By the end of 2022, these two companies will reach everyone they set earlier as their target.
Stellar Aid Demonstrates The Power of Blockchain Technology
Karolina Lindholm Billing, UNHCR representative in Ukraine, expressed her interest in Stellar’s aid work during the speech. He said that this reform plan could help thousands of people struggling in the war-torn parts of Ukraine; Furthermore, he expressed his gratitude to the United Nations (UN) and the IRC for choosing Ukraine as the perfect testing ground for this powerful project.
David Miliband, President and CEO of the IRC praised the pilot of Stellar’s philanthropic project. He said that their partnership with Stellar has given them a new way to send financial aid to Ukraine using blockchain technology – an exciting development.
Stellar Development Fund, Ukrainian Leadership?
Denelle Dixon, CEO and Executive Director of the Stellar Development Foundation (SDF), proudly announced: SDF will achieve what is important while providing freedom, power and dignity. The partnership with the International Rescue Committee is pioneering the future of providing aid in the stellar network through the “Stellar Aid Assist” program.
With Stellar Helpline, transferring money to those in need is a safe and easy process. Every step of the transaction can be monitored in real time, reducing the possibility of theft or corruption while providing full transparency to all contributors.
Why The War in Ukraine Will End
The conflict in Ukraine, which started in 2014, continues. This is a conflict between the Ukrainian government and pro-Russian rebels in the eastern part of Ukraine, known as Donbass. The conflict has affected thousands of people and displaced many people.
According to the United Nations, as of November 2021, the conflict has killed more than 13,000 people and displaced more than 1.4 million people. The situation in eastern Ukraine continues to deteriorate, with intermittent fighting and ceasefire violations reported. In addition to the loss of life, the conflict has had a significant impact on the region’s economy and infrastructure. It disrupted trade, damaged infrastructure and caused economic losses to Ukraine and Russia. The conflict has also had a damaging effect on the region and damaged relations between Ukraine and Russia.