The Web3 roadmap proposes the launch of a regulatory sandbox and the creation of a national blockchain-backed realty register.
A roadmap for promoting and expanding Web3 in the nation was unveiled by the citizen organizations Virtual Assets of Ukraine (VAU) and Blockchain4Ukraine, a group of pro-crypto Ukrainian lawmakers.
According to local media, the co-authors of the document signed it on November 14.The roadmap suggests a number of initiatives to advance Web3, including the establishment of a regulatory sandbox for Web3 and blockchain projects, the development of a national land registry supported by blockchain technology, the creation of a “blockchain plan” for Ukraine’s post-war reconstruction, and its inclusion in the European blockchain community.
Along with exploring ways to integrate blockchain technology into Ukraine’s healthcare and educational systems, VAU and Blockchain4Ukraine also plan to work on a self-sovereign identity pilot project. The business and scientific communities are on the roadmap’s list of potential partners, along with civil society and nongovernmental organizations.
The roadmap-creating team will draft a number of bills to advance its initiatives on a governmental level. The European Blockchain Partnership, an initiative developed by the EU’s 27 member states to provide cross-border public services, welcomed Ukraine as the third non-EU member state in June.
Konstantin Ermolenko, CEO of VAU, at the time, disclosed Ukraine’s interest in operating a test node of the European Blockchain Services Infrastructure and prototype use cases of the cross-border public services based on blockchain technology. The statute “On Virtual Assets,” which was enacted by Ukrainian President Volodymyr Zelensky in March 2022, was the nation’s first significant cryptocurrency-related law.
The National Bank of Ukraine and the National Securities and Stock Market Commission of Ukraine are established as the two principal regulators of the cryptocurrency market. Through its government-managed Crypto Fund of Ukraine, Ukraine has managed to collect over $100 million in cryptocurrency donations since the start of the Russian invasion in February 2022.
