60% of blockchain companies called Ukraine convenient for doing business

60% of blockchain companies called Ukraine convenient for doing business

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The Association of Blockchain of Ukraine (BAU) analyzed the level of business comfort and regulation of the blockchain and cryptocurrency industries in the country. The survey involved 58 companies participating in the cryptocurrency market, registered or assembled a team in Ukraine.

Most of the DLT solutions development companies – 32% – were founded in 2017. 20% in 2016, 14% in 2018, 12% in 2015 and 8% each in 2014 and before it. The founders of the companies came to the blockchain from development and programming, finance and investment, as well as cryptography and cryptocurrency.

The most extensive areas in the blockchain industry of Ukraine are the development of products and platforms, as well as financial services. Fewer companies are involved in the public sector, investment, law, media and education. Individual companies include trading, mining, analytics, security, gaming, marketplace, locations and marketing.

According to the survey, 56% of companies rate the security level of doing business in Ukraine as “normal” (3 out of 5), 30% as “bad” (2 out of 5), 10% as catastrophically bad (1 out of 5) and 4% as “Good” (4 of 5).

At the same time, 76% of market participants are confident that new Ukrainian companies are likely to open in other jurisdictions, 14% believe that new companies will not leave the Ukrainian market, another 10% believe that new projects in Ukraine will cease to appear, and the existing ones will move abroad.

For the development of crypto and blockchain industries, the company needs a simplified procedure for starting a business and better tax legislation. Interference by law enforcement agencies and the lack of a legal framework for regulating the sphere of digital assets are considered inadmissible.

At the same time, for the development of the ecosystem, system initiatives aimed at the development of the industry would like to see 66% of respondents, financial support and investment in companies – 54%, protection from government actions – 52%, expanded educational opportunities – 50%, more activities and Networking – 34%.

According to Roman Kravchenko, the CEO of 482.solutions, Ukraine, by a number of indicators, is a convenient point for the location of R & D centers of technology companies.

This is facilitated by a fairly high level of engineering and mathematical higher education, the availability of scientific personnel and mental models, in general, which are developed to solve non-standard problems and situations.

All this is aggravated by the difficult economic situation, which stimulates the transition of specialists to the IT sphere. “The Ukrainian crypto community has every chance to become a bridge for connecting the markets of Western and Asian capital and innovation.

The key task is to unite us as a fragmented community into a single ecosystem and ideological platform with global goals and ambitions, ”said Kravchenko. Recall that in January 2018, Ukraine was named one of the world leaders in the implementation of the blockchain.

60% of blockchain companies called Ukraine convenient for doing business

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