Tether, along with the Government of Georgia, have signed a Memorandum of Understanding for developing blockchain and peer-to-peer framework for promoting innovation and bringing about a Substantial increase in the economy. This is a step in the direction of Tether fulfilling its pledge to further the concept of smart cities around the globe. Incidentally, the firm is engaged in running the blockchain-oriented platform tether, which is used to strengthen the immensely popular stablecoin.
According to the CTO of Tether, Paolo Ardoino, this collaboration is indeed a landmark occurrence as the deal is direct with the Government of Georgia, which will open the doors for the company to be able to contribute towards the framework related issues in terms of other cities too, around the world. The vision for them is to initiate the mass acceptance of blockchain technologies like Bitcoin and solutions linked to Keet and Holepunch. Other than that, they will be working on the upliftment of the ecosystem of Georgia and putting the country on the international stage.
In the words of Irakli Nadareishvili, who is the Deputy Minister of Economy and Sustainable Development, as per the MOU signed, Tether will be building a particular fund that will go towards the localized startups engaged in the development of blockchain technologies and thus project Georgia as a country encouraging technological startups. Further, there will be involvement in the educational arena in relation to blockchain technology. Additionally, even international associations will be entering the picture, bringing about the backing of various ventures globally.
Tether, together with the Georgian Government, will be scouring ways of building strong communication, as well as a financial model which will incorporate digital communication as well as payment methods revolving around peer-to-peer technologies. With the benefit of safety features in blockchain systems, changes will be carried out in matters of public administration and the private sector. They will be working in close coordination with the academic bodies, including BTU, which is one of the prime technological universities in Georgia.
Where the Government of Georgia is concerned, it remains focused on boosting the economic build-up of the country, as well as matters of innovation and the furthering of technological know-how. With the adoption of blockchain and peer-to-peer technologies, Georgia will be projecting itself as a favorite business hub globally.
