With the invasion of Russia, many Ukrainians found themselves forced to leave their places of residence, becoming displaced. Some of them are sleeping in the open, waiting for their situation to change. The UNHCR, (United Nations Refugee Agency), has decided to offer financial assistance to people the Russian invasion affects. These are in particular internally displaced persons in Ukraine. But, the UN is aware that it can be difficult to carry cash when you are a displaced person. Indeed, the risks of loss and theft are significant. Fortunately, the UN can turn to crypto to solve this problem.
Transferring USDC to Displaced Ukrainians
Fortune Magazine found, on December 15 through an article on its site, that the UNHCR is about to send crypto to displaced Ukrainians. The United Nations Refugee Agency will specifically send USD Coin (USDC), convertible into local currencies. The dollar-backed stablecoin will be sent to Vibrant digital wallets. These based on the Stellar blockchain.
USDC can be converted, among other things, into dollars and euros to be collected at a MoneyGram point of sale. You should know that there is a panoply of points of sale of this type in Ukraine. The UNHCR representative in Ukraine made a statement in the statement released by the agency announcing the news.
Karolina Lindholm Billing said: “UNHCR has worked with the technology sector for years. This has been crucial in helping us innovate to deliver assistance faster, because speed is essential in humanitarian action“.
A user took this opportunity to recall to cryptoskeptics that crypto does indeed exist.
He said on Twitter: “Cryptos are real, they work and help people. Don’t let anyone tell you otherwise. UNHCR distributes aid through USDC, which can be cashed in at physical ramps in Ukraine. Clear problem, clear solution“.
To implement its new programme, UNHCR collaborated with the Stellar Foundation for Development. Before being extended to other cities, the program will first be available in 3 Ukrainian regions, namely kyiv, Lviv and Vinnytsia. Although it was designed specifically for Ukraine, the UN could extend it to other countries around the world.
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