In a small village in Ukraine, all residents are now owners of cryptocurrency, thanks to an initiative by the head of the village council. Cryptocurrencies, such as bitcoin and ether, can also be used in the village to purchase items such as eggs, lard, meat, and milk.
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All Residents Own Crypto
In the Ukrainian village of Elizavetovka of the Petrykivsky district in the Dnipropetrovsk
region, all residents reportedly now own some crypto, according to local media.
At a recent village council meeting, local deputies decided to allow the chairman of the council, Maxim Golosnoy, “to carry out operations with cryptocurrency in the interests of the territorial community without attracting budgetary funds,” Comments.ua reported. Golosnoy has “figured out how to replenish the local budget with the help of cryptocurrency,” Akcent Media elaborated.
Citing that this is an experiment meant to earn money for the community, Tsn.ua emphasized:
The village is now the first in Ukraine where the residents have become owners of digital currency.
Furthermore, the news outlet reported that bitcoin, cardano, and ether can now be used in the village such as for buying meat, lard, eggs, and milk.
Crypto Investing for the Village
A month ago Golosnoy invested 13,000 hryvnias [~US$494] in cardano, the cryptocurrency which he now provides 1,500 of his residents with, Akcent Media described.
Maxim Golosnoy.
After the value of this investment went up to about 39,000 hryvnias [~$1,480], he repaid himself the 13,000 hryvnias and claims to have set the rest aside for his residents, Tsn.ua detailed, adding that “from now on, each villager is an owner of several crypto units.”
For now the residents’ cryptocurrency is in Golosnoy’s care, although he has
