Rostislav Solod, 19, is the youngest lawmaker within the metropolis of Kramatorsk, Ukraine. He’s additionally a crypto millionaire.Solod is the son
Rostislav Solod, 19, is the youngest lawmaker within the metropolis of Kramatorsk, Ukraine. He’s additionally a crypto millionaire.
Solod is the son of two nationwide parliament members, Yuri Solod and Natalia Korolevska. He entered politics this autumn, contemporary out of college. In his compulsory property declaration, he stated he owned 185,000 monero, or $24.5 million value of the cryptocurrency.
This was, in truth, the one piece of property the younger lawmaker owned himself. Every part else in his declaration, together with actual property, vehicles and logos, belongs to his mother and father.
Solod instructed CoinDesk throughout a latest interview that he began watching crypto when he was at college, round 2014. Bitcoin didn’t entice him. Monero (XMR), alternatively, appeared like a extra viable cryptocurrency because of its anonymity and fixed demand by the darkish market, Solod stated.
He amassed monero by 2015 on exchanges, he stated, utilizing his financial savings and a few cash his mother and father gave him for a enterprise mission that by no means occurred. Solod “by no means actually favored college,” he stated, so he spent quite a lot of time finding out monetary markets and studying about crypto.
Ukraine, which was rated by Chainalysis because the nation with the very best crypto adoption stage on the earth, is now within the strategy of passing its first laws regulating crypto. Solod admits that, at first, he was not loopy about this.
“For me, as an entrepreneur and a younger man, that is unhealthy: I used to see crypto as an island within the ocean, untouched by a sinful hand. A fully free zone the place everybody can do something. However as a politician, I perceive that this regulation will carry cash into the [country’s] funds,” Solod stated.
Monero’s privateness function now not applies to Solod. He should report all his property as a public official, due to a regulation supposed to stop corruption and unlawful enrichment within the nation’s echelons of energy. Going ahead, the younger politician would possibly liquidate the crypto and reinvest the cash into a brand new enterprise mission, he stated.
Solod is considering entering into crypto mining (no determination on what coin to this point) and shopping for some tokens from the freshly launched Efforce mission supported by Apple co-founder Steve Wozlniak. However his favourite crypto-related plan is launching his personal token, Solod stated.
“Elections and the political profession distracted me from these plans for some time,” he stated.
They distract him from his research as nicely. Solod stated he’s presently pursuing an economic system main on the Royal Holloway College in London. He’s finding out remotely as a result of coronavirus quarantine, he stated, though it’s typically exhausting to make time for each work and college.
Requested why he determined to enter politics, Solod referred to his household, saying that “he was born in it.”
“I used to be to determine why the nation isn’t growing,” Solod stated. “I actually wish to change the state of affairs with the corruption. The previous strategies to stop it aren’t working anymore.”