Organizing The Digital Currency Community to Help Ukraine Through the Dark Days Ahead
Updated: Mar 8
Elon Musk keeps Ukraine connected, the Catholic church feeds Ukrainian refugees, and the digital currency community can put together a stablecoin solution to support trade and life throughout the trying times ahead, which some experts appraise to be years, and many. Today we have the technology to leverage Ukrainian cellphones to serve as their banks, vaults, and wallets -- in stealth, unexposed to their oppressors. One or several mints issuing dollar-based, or Euro-based stablecoins, will collect contributions and disseminate payments to Ukrainians using a dedicated phone app that will store the money, pay the money, and get paid -- with digitalized hard currency. Payment continuity is essential for sustained life of either a community of refugees, or a community dominated in their own homes. We have the technology to put a tailored solution for Ukraine; facilitating direct transfer of funds from global donors to Ukrainian cell phone owners. What is needed is organization. To organize requires leaders. This post is a call for enterprising individuals in the digital currency community to find each other and come up with a plan to identify contributors, financial experts, cryptographers, functionaries, payment designers, developers, programmers, and assorted support people. The enterprise will sort out the best technology solution, the best implementation plan, the right financial accounting, and then raise money to implement the plan.
The objective is to deliver hard currency to the people of Ukraine through the coming dark days when their liberty and normalcy are taken from them. Society, even if occupied, requires money flow to function and maintain itself. Today this can be done with basic Internet connectivity, operating cellphones, and access to a public ledger. We have solutions that allow a remote community to run a local payment network, which may or may not connect to a neighboring payment network. The money owners are protected with quantum safe cryptography resisting any onslaught from Moscow. There is a lot of goodwill around the globe, and if this "Ukraine LeVeL Paying field" Enterprise is well managed and earns trust, more and more contributions will come through. You can't expect Ukrainians to subject themselves to price vacillations, they should be given a fully stable coin to trade with -- the US dollar, or the Euro.
It will be rewarding for the global professionals that just last week convened in Washington sharing their visions for CBDC in every continent, to join forces and minds with a shared goal to exploit the technology we have ready today to help the citizens of the country that found itself a target of an evil design on its life and liberty.
Imagine you have a video call with a sheltered Mom in Kyiv. On the spot you send her $100 from your phone to hers; she acknowledges receipt with a click and a smile. Nothing is siphoned off to some middlemen, the mom’s identity remains secret. As long as the Internet is on, we can set up this capability and fast.
We are wholeheartedly prepared to put forth all the technology described in the white paper: "A LeVeL Paying Field: Cryptographic Solutions towards Social Accountability and Financial Inclusion" ( https://eprint.iacr.org/2022/130) for this emergency initiative, but the technology and the elements of the payment capacity program should be decided by a selected commission of experts with efficiency and efficacy in mind -- including resilience against Russian obstruction efforts.
This initiative can be put to work in a few months, and help sustain a struggling Ukraine for years to come.
This is a call to anyone in our community who is ready to consider some form of participation, to simply respond below with a statement like: "I want to explore giving a hand to the Ukraine LeVeL Paying Field enterprise.”
We will count the respondents, identify leaders, and follow them.
Based on the response to this post, will lay out further thoughts. Long Live Free Ukraine!