A town named Elizavetovka is located in the Dnipropetrovsk district of Petrykivsky region in Ukraine. Ukraine is a country located in Eastern Europe. Elizavetovka is known to be the first village in Ukraine where people own cryptocurrency. People of this village are now using Bitcoin, Cardano, and Ether to purchase things like eggs, lard and other dairy products.
Local leaders of the village agreed that Maxim Golosnoy, Chairman of the village council of Elizavetovka, was to be empowered in order to carry forward the operations regarding cryptocurrency for the interests of the territorial community without attracting any kind of budgetary funds. They also mentioned that Golosnoy has somehow figured out about the replenishing of local budgets with the utilization of cryptocurrency. The usage of cryptocurrency is said to be an experiment to earn money for the entire community.
Currently, only Golosnoy has invested his own funds in cryptocurrency. Akcent Media reported that Golosnoy is planning to make an appeal to the Cabinet of Ministers of Ukraine in regard to invest the village’s budget in cryptocurrencies.
Golosnoy has invested 13,000 hryvnias [~US$494] in Cardano. He is now providing it to 1,500 of his residents. Once the value of his investment went up to around 39,000 hryvnias [~$1,480], Golosnoy repaid 13,000 hryvnias to himself and set all the left ones aside for the usage of his residents, mentioning, “from now on, each villager is an owner of several crypto units”.
The owner’s cryptocurrencies are presently in Golosnoy’s care. He has assured his residents that they can cash out these coins whenever they’d wish to. He further added, the villagers “are in no hurry, because they still do not understand either the principle of cryptocurrency or the benefits of it for themselves.”
India Remains Undecided and Divided about Cryptocurrencies