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Ukraine Election Trials Have Begun on NEM Blockchain

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Ukraine Election Trials Have Begun on NEM Blockchain

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A Ukraine election official shared in a Facebook post on Tuesday that the commission’s experiments with the NEM blockchain voting trial for use in the country’s elections have gone live successfully.

The head of the country’s voter registry at the Central Election Commission of Ukraine, Oleksandr Stelmakh, commended the immutability of hosting elections on the blockchain, as well as the improved security benefits of the decentrally-hosted data. The social media post notes that the commission was continuing a series of trials that apply blockchain technology to electoral voting.

He noted that the test run utilized these properties in saving the responses to the ballots, as well as the voters’ personal information. The test vote used 28 nodes with the NEM blockchain.

A link to the timestamped NEM blockchain transactions was also shared in the post with a disclaimer that the pilot had been held in a test environment with trial coins that were donated by the NEM foundation in Ukraine.

To install blockchain voting in each Ukrainian police station, Stelmakh estimated it would cost USD 1,227 per unit, a price he sees as more than reasonable to assure the sanctity of elections is protected.

Crypto in Ukraine

Last month, the Ukraine National Securities and Stock Market Commission announced plans to further regulate the cryptocurrency industry. The commission responsible for minimizing risks in the financial sector has not endorsed legislation to legalize cryptocurrency in Ukraine, despite an increase of activity in the sector.

An internal legislative debate is reportedly taking place to codify laws around blockchain, and the storage and trade of cryptocurrencies.

In June, a government agency announced that it had no plans to regulate crypto mining. Miners, however, have been said to be keeping a low profile on their operations due to the unpredictability of the government’s reaction to cryptocurrency, with some speculating they may become subject to fines or confiscation of their mining equipment.

 

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