Ukraine's integration into the global digital space

The Ministry of Digital Development is developing a post-war strategic plan for the development of the domestic IT sector in accordance with the needs and goals of the industry.

Ukraine is gradually integrating into the European reform agenda to advance key areas of the digital economy and society in line with EU norms and practices to ensure economic growth, create more jobs, improve people's lives, and support businesses.

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Ukraine's Technological Future

Despite the war, a concept for a new digital path for Ukraine has already been created. This was stated by Digital Transformation Minister Mykhailo Fedorov in hisTelegram channel.

"Today I had the honor of speaking at Politico's annual event, "Tech 28: The Power Players Behind the European Tech Revolution." I presented Ukraine's achievements in digitalization and discussed our vision for the technological future."— he wrote.

Towards a Digital State

The main goal of the agency's work in collaboration with the Ukrainian IT community is to build a secure, technologically advanced, and "most convenient digital state."

Much has already been done towards this end, but work on changing the current "organizational structure and approaches to work" continues. A clear example is the range of capabilities of the Diia platform and the opening of the first international Diia.Business center in Warsaw.

ID Wallet

Along with Poland and Slovenia, Ukraine will participate in the ID Wallet pilot project, similar to our Dija project. Users of the app will be able to store personal documents and digital signatures on their smartphones. Wallet can also be used to track how personal data is used by various organizations.

Signing contracts using digital signatures

The Ministries of Digital Development of Ukraine and Poland have agreed onmutual recognition of electronic signaturesAccording to Mikhail Fedorov, this opens up "revolutionary opportunities for our business," as cooperation agreements can now be signed online. Using digital signatures significantly simplifies and accelerates business interactions.

Digital Europe

Consultations on Ukraine’s accession to the Digital Europe program have also begun (Digital Europe). It aims to create a sustainable digital environment in Europe with fairer taxes. The head of the Ministry of Digital Development hopes for a positive decision in the very near future.

Legalization of digital currency

Another important progressive step is the creation of a state cryptocurrency fund, which helps raise donations to support the Ukrainian Armed Forces and civilians affected by the war.

The legal status of cryptocurrency in Ukraine and the provision of legal protection to users and market participants will be determined after the final version of the Law on Virtual Assets, with amendments from the President of Ukraine, is adopted.

Ukraine is a startup country

The Ministry of Digital Development plans to transform Ukraine's potentially strong IT industry.from service to product.This will attract investment and stimulate trade and employment, contributing to the country's socio-economic development.

"We must show the world that Ukraine is a startup nation, a country of free people, warriors, technology, and creators. More and more global brands and companies will start working with us.

PayPal and Revolut have already launched their services for Ukrainians. And this is just the beginning. We will create every opportunity for global companies to develop and scale in Ukraine.", - the head of the Ministry of Digital Development, Communications and Mass Media states.

PayPal

PayPal has been fully operational in Ukraine since March 17, 2022.

• Until this moment, the regime was in effectsend only: it was only possible to create and top up an account.
• Now users of the service can withdraw funds to bank cards of Ukrainian banks.
• It is possible to receive transfers to Ukrainian cards (including in foreign currency).
• According to user reports, the service is more lenient towards regular customers—account holders created before March 17—who can purchase and transfer currency without restrictions.
• New accounts may sometimes experience issues (for example, PayPal may return an error after several successful transactions).
• Until June 30, 2022Ukrainian users can make transfers via PayPalno commission. 

Revolut

From March 14, 2022special conditionsRevolut payment service provided for refugees from Ukraine:

• the company has relaxed the requirements for opening an account (there is no need to confirm residency in Europe);
• A number of fees for account replenishment and currency exchange have been cancelled;
• Users have the opportunity to access their funds located in accounts in Ukrainian banks.

The Revolut app is available in English and other European languages. The company plans to add a Ukrainian menu soon.

• The global financial app Revolut lets you open a virtual payment card with functionality similar to a regular plastic Visa or Mastercard.
• The card can be used anywhere in the European Economic Area (EEA) and Ukraine.
• It can be linked to Apple Pay or Google Play, making it easy to transfer money to a foreign currency card of any Ukrainian bank by creating a SWIFT payment (funds are credited on weekdays, throughout the day, without commission).
• You can also top up your Revolut currency account using any hryvnia card at the exchange rate of the Ukrainian issuing bank.

We also wrote about the initiative of the largest cryptocurrency exchange Binance, which releaseda card to help Ukrainian displaced persons.

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