The burden of finance traditionally falls to governments, often in the form of issuing war bonds.
Ukraine iscurrently issuingUS$270 million in war bonds for that very purpose.
Interestingly, however, Ukraine is also drawing on options that were not available until very recently.
Stand with the people of UkraineNow accepting cryptocurrency donations.
It shows individuals collectively having a state-like impact on the global stage.
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Yet as ever with cryptocurrencies, they bring benefits and risks in equal measures.
They also have the potential to help Russians to evade the crashing rouble contrary to demands by Ukraine.
The crypto community has not wholeheartedly agreed.
The problem is not new to this conflict.
Countries such as Iran havepreviously been accusedof using bitcoin to bypass sanctions.
In my view, however, it isdoubtful thatcrypto will save Russia from sanctions.
Besides that,daily transaction valuesin crypto only amount to a few billion dollars.
This is a big number, but an order of magnitude less than the overall financial system.
It isnow the 14thmost valuable currency in the world, three places above the rouble.
