Alex Bornyakov’s Post

One more American fund to invest in Ukrainian defense tech 💸😎 Together with the BRAVE1 team, met with the Supervisory Board of the Mits Capital International Defense Fund. The main focus of the conversation — attracting US investment in Ukrainian defense tech. Together with our partners, discussed in detail the priority areas for funding, as well as how private capital from the United States can strengthen Ukrainian developers. The global goal of MITS is to bring investments of American companies into Ukrainian defense to scale up the production of our technologies. In February, the fund, with the support of the Ministry of Digital Transformation and the American University in Kyiv, launched an acceleration program for Ukrainian defense-tech companies with investments of up to $200,000. The first participants have already been selected, so soon many more Ukrainian companies will receive funds to scale their products. H. Perry Boyle, Jr. Ernest (E.J.) Herold Monique Brown David Bonfili Trevor Cadieu Paul Scharre thank you for your visit and sincere interest in Ukrainian defense tech! I am confident that our cooperation will be a win-win for both Ukraine and the US 🇺🇦🇺🇸

Last week, Uniswap, a DeFi exchange, received a Wells Notice—an enforcement notice — from the U.S. Securities and Exchange Commission (SEC). According to DeFiLlama, the total value locked (TVL) across the DeFi sector is estimated at $85 billion. With a trading volume of $5 billion, Uniswap’s significant size has clearly drawn regulatory attention. While we don’t know the nature of the potential charges, a possible lawsuit by the SEC could significantly impact the regulatory landscape for the DeFi industry. The United States uses a common law system where court precedents play a pivotal role in shaping legal standards. Consequently, a court decision in the Uniswap case could establish a precedent for other DeFi projects, thereby influencing the regulation of the entire sector. Interestingly, after the announcement of the enforcement notice, the UNI token’s value plummeted from $11 to $8, losing more than a quarter of its value. Such significant price changes can be sources of market manipulation and substantial losses for many investors. Ironically, the SEC, tasked with combating market manipulations, may inadvertently contribute to instability in the DeFi sector. Regardless of the outcome of the potential lawsuit, this case sends a strong signal to the industry that regulators are closely watching the DeFi sector.

🤘Ukraine's 2023 crypto gains are estimated at $850 million, as reported by Chainalysis this highlights the growing strength and potential of the Ukrainian crypto industry on the global stage. 🎯 Elevating the crypto sector within Ukraine remains my top priority. Last year, we introduced a new draft law on crypto assets regulation to Ukraine’s Parliament, aiming to provide a legal framework that fosters the growth of crypto-based innovations within our country. 📈 Integrating crypto into our financial system could significantly boost Ukraine's post-war rebuilding efforts. With the economy struggling and the increasing needs at the frontline, it's essential to make this growing economic sector legal. Implementing taxation on crypto assets is a crucial move towards legitimizing this new market and using its potential for the public good, especially in these times of war.

@European Parliament approved the AI Act 🇪🇺 Big step toward a future where AI carries a minimum of risks but maximum opportunities. The AI Act is going to establish common rules for the development, use, and market launch of AI technologies in the EU. This document will become a global standard for all countries to establish their national legislation. The AI Act is a key ethical guideline for Ukraine in creating its own AI rules. Thanks to such compliance, Ukrainian companies will be able to enter the European market and attract international investment. We are considering the experience of European colleagues while working on our own AI legislation. Our big mission — is to make business&people oriented regulation with the balance between innovations and the protection of human rights 🇺🇦

Cybersecurity, investments in Ukrainian startups, and the fortification of strategic partnerships: here are the key highlights from our intensive working days in London. 👉 Cybersecurity: A substantial Ukrainian-British gathering aimed at identifying collaboration opportunities between companies from the UK and Ukraine. Given that Ukraine, USA, and the UK are currently the three most targeted states in cyberspace, there is significant room for mutual learning and teaching. The goal is to establish genuine synergy in Ukrainian-British cyber cooperation. 👉 Investment: The launch of the UK-Ukraine TechBridge accelerator focused on fostering collaboration between our respective technology ecosystems. The UK tech ecosystem, ranking third globally in capitalization, reached a trillion dollars in capitalization for all startups last year. In contrast, the combined capitalization of all Ukrainian tech companies is several billion dollars. To bolster Ukraine's startup ecosystem, it's crucial to draw lessons from the UK's experience. 👉 Partnership and Experience Exchange: The UK-Ukraine Tech Forum highlighted the win-win nature of collaboration with Ukrainian IT companies. Ukrainians are renowned for their proficiency in sophisticated technologies like AI, deep tech, drones, robotics, etc. Furthermore, Ukrainian professionals don't merely execute tasks but assist in aligning your business ideas with technology. In conclusion, these days were exceptionally productive. We shared experiences and laid the groundwork for future collaboration. Having such a robust strategic partner is invaluable to us. My heartfelt appreciation goes to @Department for Business and Trade, @techUK, @IT Ukraine Association, and @UK-Ukraine TechBridge for their dedicated efforts that paved the way for this meaningful partnership.

Over 1000 developments have been registered on the @Brave1 platform! That's over a thousand defense-tech solutions that can strengthen the Ukrainian army on land, at sea, and in cyberspace. 545 developments have undergone the defense expertise of the General Staff. 481 of them obtained BRV1 status, signifying their priority for the Security and Defense Forces of Ukraine. In nearly 9 months of Brave1's operation, it has provided 145 grants totaling $2,505,000. Many of such solutions are already effectively operating on the frontline, safeguarding the lives of our defenders through asymmetric actions against the enemy's colossal resources. These technologies help perform various combat tasks, from monitoring enemy information to assaulting Russian positions using remotely controlled robotic systems. Here are just a few developments created within the cluster and already in use by our military 👇🏻 🦅 Backfire K1 — a strike drone-bomber with resistance to Russian electronic warfare, exceptional precision in dropping, and invisibility to the enemy. It is already in use on the battlefield by the "Zli Ptakhy" unit. Since September 2023, such drones have successfully conducted over 120 missions, destroying strategically important enemy targets and causing significant losses to the occupant personnel. 🤖 D-21-11 — a ground robotic system capable of conducting reconnaissance, assaulting, and defending positions. If separate the combat unit, D-11 turret, D-21 logistics ground robotic complex can also deliver ammunition and supplies to the soldiers in hotspots. 📡 HIMERA — a digital radio station providing uninterrupted communication within the unit, thanks to its resistance to enemy electronic warfare. This development is particularly valuable in conditions of active hostilities, where communication is a matter of life and death. 🥷 Invisibility Cloak — a camouflage super protection for the Ukrainian military, blocking heat radiation and allowing fighters to remain unnoticed by enemy thermal imaging devices. This cloak protects our military not only from Russian eyes but also from rain, wet snow, high temperatures, and harmful radiation from enemy electronic warfare devices. It also saves fighters from the flames of explosive substances and objects, including mines and grenades. The development is lightweight, being up to 2.5 kg. 💻 Griselda — a multifunctional platform designed for collecting, processing, synthesizing, and transmitting various types of data. Thanks to AI and unique algorithms, it simultaneously processes thousands of information streams from reconnaissance systems, and specific digital databases, as well as drones, radars, and satellites. With this platform, the military can receive quality data in a matter of seconds. If you have a defense-tech solution, submit your project to the Brave1 platform https://brave1.gov.ua/ and contribute to the Ukrainian defense capability and the safety of our defenders.

🇺🇸 In late November, it was an honor to discuss the pivotal role of crypto fundraising in Ukraine's defense and ongoing crypto legislation efforts with Candace Kelly of Stellar Development Foundation at the #BAPolicySummit by Blockchain Association in Washington. 🇺🇦 I was especially thrilled to highlight crypto as a highly effective fundraising tool, significantly strengthening Ukraine’s wartime defense efforts. The global crypto community promptly responded to Russian military aggression against Ukraine by donating to Aid For Ukraine. Within days of being invaded, the Aid For Ukraine had funds to address both military and humanitarian needs. Blockchain tech allowed us to scale fundraising efforts in a way that wasn't possible before. Despite political skepticism about Ukraine's survival, people worldwide supported our country through crypto donations. This case study vividly illustrates the power of crypto for national defense and democratic values. 📜Beyond crypto fundraising, our conversation delved deep into crafting effective crypto regulations. At the Ministry of Digital Transformation, we believe that for the crypto industry to thrive, new laws specifically designed for this emerging tech should be implemented. Recognizing the industry's economic potential, we have recently registered a new crypto bill. Our primary goal is to provide a legal framework that fosters crypto-based innovation in a responsible way. Achieving this balance requires collaboration between regulators, industry, and the wider community. 💡I firmly believe regulators must work closely with industry experts and stakeholders to develop regulations that are forward-thinking, technically feasible, and able to keep pace with the rapidly evolving crypto landscape. Policymakers should also work with the crypto professionals to understand the possible economic impacts that certain regulatory models will create. 💼The same goes for the private sector — industry leaders should make efforts to coordinate and collaborate on evolving technical standards. Collaboration can help promote standardization and best practices in the crypto industry. ⚖️ Most entrepreneurs in the crypto space are genuinely interested in developing their business solutions in an honest and transparent way. In regulating the crypto market, we must ensure that our efforts to increase consumer safety don't unintentionally stifle its growth. Restrictive regulations may push companies to seek more liberal jurisdictions or even move offshore. It is important not to destroy the value that crypto entrepreneurs are trying to create. 🙏I am grateful to Kristin Smith and Chris Jonas for inviting me to share Ukraine’s experience.

Participated in the Ukrainian-American Defense Industry Conference DFNC1: US Edition in Washington 🇺🇦🇺🇸 A significantly important event for deepening cooperation with the U.S. in the defense sphere, particularly in joint weapon production. The conference brought together 350 representatives from the defense industries of the U.S., Ukraine, and Europe, as well as key government officials from the Ukrainian and American defense sectors. Shared current needs and how we can be mutually beneficial. The key takeaway: weapons in Ukraine will be more 💪🏻 Notably, one of the main conference's themes was technology in warfare. Discussions covered Ukrainian UAVs, maritime drones, and alternative communication systems — everything that enables us to destroy russian equipment worth millions of dollars and provide an effective response to the enemy. Today, Ukraine is one of the best places to study how technology works in war. Our cases and expertise are highly interesting to American and European partners. Together with the Brave1 team, we discussed potential collaboration in this direction. Personally grateful to our American colleagues for their readiness to support Ukraine in every way. The U.S. is our key partner in this war. Therefore, we strengthen our cooperation. More to come!

❓What are the primary challenges and prospects for web3 industry in Ukraine — the results of the study «Web3 for Ukraine: Talk to Founders» 💡Web3 is an innovative industry that has an enormous potential to drive tech, economic growth, and the reconstruction process in Ukraine. 📊To examine the needs of Ukrainian web3 businesses, the Ministry of Digital Transformation of Ukraine, in collaboration with the Public Union «Virtual Assets 2030», has spearheaded the study «Web3 for Ukraine: Talk to Founders». This initiative aims to identify the main challenges and prospects for the advancement of this innovative segment of the economy. The Ukrainian WEB3 Institute conducted interviews with 50 Ukrainian web3 entrepreneurs. Upon analysis, several key findings have emerged: 🔗 Regulatory uncertainty is pushing web3 startups to incorporate their businesses outside of Ukraine, leading to a trend of startups opting for foreign jurisdictions. 🔗 The lack of access to banking services, coupled with currency restrictions imposed due to martial law, has impeded web3 companies in meeting their financial obligations to counterparts. 🔗 The premature implementation of MiCA provisions into national legislation on virtual assets may push web3 startups to other countries. To address the adverse effects of regulatory uncertainty, the Ministry, in collaboration with deputies and representatives from the crypto business sector, has developed a new draft law on virtual assets regulation (No. 10225-1). Its adoption is envisioned to establish a legal framework for the web3 growth within our country. These findings from the study will be duly considered during the formulation and implementation of state policies pertaining to the digital economy, digital innovations, and technologies in Ukraine. Access the full report here: https://lnkd.in/d2N4_Qmb