Sign In

Alex Bornyakov

Co-Founder at Adtelligent

Alex Bornyakov is a prominent figure in Ukraine's technology sector and government. He currently serves as the Deputy Minister of Digital Transformation of Ukraine, focusing on IT industry development and heading the Diia City project.23

Bornyakov co-founded Adtelligent, formerly known as VertaMedia, a video monetization platform.12 Under his leadership, Adtelligent achieved significant success, being recognized among the fastest-growing companies in North America by Deloitte Technology Fast 500 and Inc. 5000.4

With over a decade of experience in the IT industry, Bornyakov has founded and managed several successful companies.1 He holds an MBA from the University of New Brunswick and an MPA from Columbia University.24

In his current role as Deputy Minister, Bornyakov oversees various sectors including e-residency, crypto-assets, AI, and the startup ecosystem.1 He is also responsible for the development of Brave1, a platform fostering technological innovation in defense.1

Bornyakov's efforts are aimed at transforming Ukraine into a major European IT hub and driving the country's post-war recovery through the IT sector.13

Highlights

Dec 20 · linkedin

🇺🇸 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.

Related Questions

What are some of Alex Bornyakov's most notable achievements in the tech industry?
How has Alex Bornyakov contributed to Ukraine's digital transformation?
What is the Diia.City project, and how does it benefit Ukraine's IT sector?
What role does Alex Bornyakov play in the Ministry of Digital Transformation of Ukraine?
Can you tell me more about the Brave1 platform and its goals?
Alex Bornyakov
Alex Bornyakov, photo 1
Alex Bornyakov, photo 2
Add to my network

Location

New York, New York, United States