Ethereum (ETH) co-founder Joe LubinHe noted that the ongoing conflicts between Russia and Ukraine have brought cryptocurrency adoption to the point of no return.
Speaking at the “Camo Ethereal 2022” event, Lubin spoke to Decrypt’s editor-in-chief Daniel Roberts and noted that Ukraine’s use of “cryptocurrencies” as a key weapon in its war against Russia is another highly significant moment for the industry.
“This situation, cryptocurrencyA pivotal moment that represents adoption in the worlds reaching the “mainstream” level. The situation has now come to national security issues. The effects will be profound and create a point of no return for the industry because it is clear that the technology is so powerful and unstoppable.”
According to data from Elliptic, the Ukrainian government and a nonprofit have raised over $63.8 million in crypto donations so far in the days of the war with Russia. Leveraging the power of cryptocurrencies, the Ukrainian government has so far continued to raise donations with Bitcoin, Ethereum, Dogecoin and some other meme coins.
Ethereum co-founder Vitalic Buterine last week he called for mercy for Russians and Belarusians resisting President Vladimir Putin’s “Z-ombi Regime”. Buterin had previously condemned the Russian invasion.
Lubin likened recent developments in Eastern Europe to an arms race with nation states competing to use cryptocurrencies:
“This country and others will have to take advantage of this powerful tool and weapon. After explaining that no one likes guns, but you must have weapons as powerful as your neighbors”, he shared the note that “Every nation-state should create policy, have knowledge and start using these tools”.