Tether has recently inked a Memorandum of Understanding (MOU) with the Government of Georgia which will position Georgia as a central nucleus for blockchain and peer-to-peer technology.
Paolo Ardoino, Tether's visionary Chief Technology Officer, expressed his enthusiasm for the alliance with the Government of Georgia, underscoring the shared ambition of cultivating a thriving environment for peer-to-peer technology. Ardoino remarked,
"This remarkable collaboration not only signifies a significant milestone for Tether but also bolsters its standing as a pioneering infrastructure partner for cities and nations worldwide. In an ever-evolving digital realm, Tether recognizes the vital importance of embracing change and expanding its offerings beyond stability. Armed with a profound comprehension of cryptocurrencies' potential, Tether seeks to empower cities and facilitate the widespread adoption of cutting-edge blockchain technologies like bitcoin, as well as innovative peer-to-peer solutions such as Keet and Holepunch."
The partnership will place considerable focus on cultivating a thriving startup ecosystem within Georgia. By showcasing the nation's favourable working conditions and good quality of life, Tether and the Government of Georgia aspire to attract international attention and investment, thereby stimulating the growth and success of groundbreaking startups operating in the blockchain arena.
Irakli Nadareishvili, the Deputy Minister of Economy and Sustainable Development, highlighted Tether's keen interest in investing in Georgia and revealed the organisation's plans to establish a special fund dedicated to supporting local startups in their pursuit of developing innovative blockchain technologies.
Nadareishvili explained, "Furthermore, we have reached an agreement to collaborate in the educational sphere, particularly in the domain of blockchain technology. This collaboration will significantly contribute to the growth of local blockchain technologies within the country, as well as the influx of companies operating in this sector to Georgia."
The partners plan to establish a dedicated fund that will provide investments and grants to startups focused on developing blockchain-based services, aiming not only to bolster domestic startups but also to foster extensive international collaborations.
Tether and the Government of Georgia are committed to exploring the development and implementation of an independent communication and financial system.
By leveraging the inherent transparency and security of blockchain systems, this dynamic partnership aspires to revolutionise public administration and the private sector, guaranteeing the delivery of effective and dependable services to citizens.
In addition, Tether and the Georgian government will collaborate closely with local academic institutions, including the BTU—a technological university and research centre in Georgia.
The collaborative efforts will be directed towards the development of educational programs on blockchain technology, stablecoins, and peer-to-peer systems.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.