World’s largest stablecoin issuer, Tether has signed a Memorandum of Understanding (MOU) with the Georgian government. The agreement surfaced due to the commitment of the Georgian government to foster economic growth, innovation, and technological advancement in the country. According to the MOU, the two parties will collaborate to position Georgia as a central hub for peer-to-peer and blockchain technology.
More so, Tether made the development known today via a blog post. With the collaboration, the Georgian government aims to kickstart a revolution of innovation and economic growth. Also, the effort will focus on enhancing a progressive startup ecosystem in Georgia. Consequently, the two partners will collectively work on attracting investment from international investors. This focus, according to the announcement, will see the projection of Georgia’s pleasant working conditions and high-quality life to attract foreign investment into the blockchain sphere of the country.
Additionally, the above-listed efforts will birth the stimulation of health and success of innovative startups in the blockchain landscape of Georgia. Also, the government of Georgia through the MOU aims to transform the public administration and the private sector. This focus according to the announcement will help ensure the delivery of effective and reliable service to citizens. To actualize this pursuit, the government of Georgia through its collaboration with Tether will leverage the immutability and security of the blockchain
Insights into the collaboration of Tether and the government of Georgia
Meanwhile, the Chief Technology Officer of Tether (CTO), Paolo Ardoino, and Georgia’s Deputy Minister of Economy and Sustainable Development, Irakli Nadareishvili provided more insights into the collaboration. According to Paolo Ardoino, the partnership is a confirmation of Tether’s position as a “pioneering infrastructure partner for cities and nations globally. In an ever-evolving digital landscape.” The CTO went on to describe how Tether intends to support cities in a bid to fast-track the global adoption of blockchain innovations.
However, Irakli Nadareishvili emphasized the relevance of the partnership and its alignment with the economic pursuit of the Georgian government. According to the deputy minister, the two partners agreed to cooperate in the educational sector relating to blockchain technology. Irakli Nadareishvili added that it will help contribute to the development of local blockchain technologies in Georgia.
Supporting the submission of Nadareishvili is the intention of the Georgian government and Tether to work with local academic institutions. With that, the two partners aim to develop blockchain-oriented educational programs and initiatives. Lastly, the focus on blockchain education will equip Georgian students with the required skills to strive in the blockchain space.