Private companies and businesses are not the only ones identifying blockchain as the present and future of how processes are approached. As it turns out, more countries and governments join the blockchain revolution every day; taking advantage of its benefits to improve efficiency in several fields and applications.

Georgia is the latest nation to announce a partnership with a blockchain technology company in order to take the European country to the next level when it comes to international business.

A Memorandum of Understanding (MoU)

This week, the government of Georgia made public an alliance with blockchain technology firm IOHK (Input Output Hong Kong.) Charles Hoskinson, who is the CEO of IOHK, signed a Memorandum of Understanding (MoU) with the nation’s authorities, with terms that state that the Georgian Ministry of Education and Science will work alongside IOHK to spot and implement several third generation blockchain-powered projects.

IOHK is known within the industry as the company behind the development of the Cardano (ADA) cryptocurrency. Hoskinson, a highly regarded crypto entrepreneur who was also involved in the creation of the Ethereum blockchain, founded it.

According to the reports coming from Tblisi, the country’s capital city, Georgia’s authorities have spotted the educational sector, most precisely the university field, as an area in which it needs IOHK’s expertise and resources in order to make considerable improvements. Georgia wants to make sure higher-education qualifications are compatible across the whole continent.

Finding Solutions in Education Services

On top of that, IOHK will also work with Georgia’s government in its quest to come up with blockchain-enabled solutions to foster business and education services in the country whilst using Atala and Cardano to support fintech businesses, contribute to data security in the Ministry, and assist it with smart contracts and their uses.

According to Mikheil Batiashvili, who is currently Georgia’s Minister of Education, Science, Culture and Sport, the country “has had an exciting journey from its previous ranking of 112th on the World Bank’s ‘Ease of Doing Business’ index, to our current position of 6th, ahead of many established hubs for international business, including the US and UK. However, we are still on that journey and are hopeful that leveraging IOHK’s world-leading expertise, particularly in 3rd generation blockchain technology, will help us to progress even further toward our goal of being the world’s leading country for secure, digitally-enabled international business.”

An “Attractive Hub for International Business”

Meanwhile, Hoskinson expressed his happiness after the agreement was announced. “We are incredibly excited to be working with the Georgian government on a range of projects across business, education and government services. A combination of a strong university sector in the country and a ‘can do’ attitude on the part of the government has seen the country rapidly establish itself as one of the world’s most attractive hubs for international business. We’re pleased to now be a part of that journey and look forward to developing the blockchain ecosystem in Georgia and helping its people to solve the challenges they face.”

By Andres Chavez


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