Freedom and Transparency of Open Cryptocurrency Case Study Donation to Ukraine
Transparency is one of the key innovation of cryptocurrency. The term known as cryptocurrency by regular people and the term open public blockchain known by academicians are one financial technology that the inside can be seen by everybody. If we know the owners of the cryptocurrency account, the full and in real-time we can track their transactions.
For example, here is an application called Zerion. By searching Ukraine’s Ethereum address for accepting donation we can see the balances and transactions in real-time. Zerion also provided shared hyperlinks where you can see yourself if you are curious https://app.zerion.io/0x165cd37b4c644c2921454429e7f9358d18a45e14/overview.
Payments & Donations & Other Wealth Transfer in Cryptocurrency
The open source and decentralized nature of cryptocurrency allows anyone to freely transfer cryptocurrency assets without further complications (just scan the address and press the send button). As long as the blockchain network exists and we know how to connect to it, there are no restrictions in asset transfers. If the network is healthy, then assets can be received immediately. As for the case of donation to Ukraine for the war waged by Russia, Ukraine only needs to share their accounts, wallets, or public account addresses, even better provide quick response (QR) code for gadget user friendliness, and any crypto users can immediately donate. Just take a look at the massive donations in Millions by regular people which maybe possible to reach Billions in the future: