- The head of the largest exchange in Europe with Ukrainian roots opened an online marathon Incrypted
- Nosov spoke about the factors of industry development in Ukraine, as well as the importance of educational initiatives
All day today, the Incrypted team is hosting a global online marathon Incrypted Conference 2023. The first speaker here was the head of the WhiteBIT crypto exchange Vladimir Nosov. The topic of his speech is cryptocurrency in Ukraine and how the industry can help with the post-war reconstruction of the country.
According to Nosov, the key factors for the development of the industry in Ukraine are:
- clear and understandable legislation;
- transparent refereeing;
- conditions for attracting capital;
- global acceptance and understanding of the industry.
During his speech, Nosov noted a number of initiatives for the development of the sector in Ukraine from WhiteBIT. First of all, the exchange gives preference to Ukrainian specialists. Secondly, the company takes an active part in educational initiatives.
As for adoption, Nosov sees a significant problem here in that most Ukrainians do not understand how this technology works:
“We conducted a sociological question on Ukraine, and it showed that only about 5-8% of people understand what is being said. They invested in cryptocurrencies and tried to understand the technology. More than 60% do not trust the blockchain industry. They consider cryptocurrencies to be a scam, a pyramid scheme, and so on. That is, more than 60% do not understand that this is not about the pyramid, that it is about technology. That this is a completely new financial world”
Nosov is sure that in order to come to mass-adoption, people need to be trained. And that means more educational courses and generally talking to people. Only in this case, the technology in our country will develop.