Crimean Blockchain Association to Offer Courses to Experts Affected By Economic Sanctions

The Crimean Republican Association of Blockchain Investment Technologies (Krabit) is reportedly planning to offer educational courses – which may be integrated into a standard university curriculum.

The blockchain-focused association will be working with several lecturers (some of whom are currently part of its faculty) in order to design and deliver the courses on distributed ledger technology (DLT).

Specifically, the courses are being offered to learners from jurisdictions that have been subjected to severe internationally imposed political and economic sanctions.

Helping Experts Learn, Attracting Foreign Investors

Krabit, which is the leading blockchain industry association in Crimea, has recommended that the educational initiative be launched by establishing a dedicated training center. Similar to how Turkey launched its own blockchain research center in August, Krabit is planning appoint qualified instructors from throughout the world to teach courses.

However, Krabit’s education program is aimed at assisting technology experts who have been restricted by US-led sanctions. One of the primary objectives of the blockchain-related courses is to adequately train the members of sanction-hit nations in advanced technologies, so that foreign investors may consider investing in these countries.

Political Uncertainty Following Ukrainian Revolution 

In March of 2014, following the Ukrainian revolution which involved the takeover of Crimea by Russia-backed separatist groups, a controversial referendum was held to determine whether the territory should become part of the Russian Federation, or stay under Ukraine’s control.

Results from the referendum indicated that most residents of Crimea wanted to join Russia – which led to Crimea and the federal city of Sevastopol (the largest city on the Crimean Peninsula) becoming a part of the Russian Federation. However, Ukraine continues to claim Crimea as its own territory and many members of the international community recognize the region to still be a part of Ukraine.

Due to the political turmoil, Crimea has been been hit with economic sanctions – which has prevented foreign investors from establishing any kind of business in the territory.

Bypassing Sanctions Using Cryptocurrency

As CryptoGlobe reported, the Islamic Republic of Iran has been trying to circumvent sanctions with the launch of its own cryptocurrency. Despite heavy pressure from the US Financial Crimes Enforcement Network, the so-called rogue state is moving forward with its plans to introduce a state-backed digital currency.

Other countries affected by international sanctions, like Venezuela, have also launched their own national cryptocurrencies. However, the launch of Venezuela’s state-backed digital currency, the Petro, has not been well-received – as investigations have revealed that there’s no evidence of the cryptocurrency actually being used for transactions