In a move aimed at fostering innovation and economic growth, Tether, the stablecoin issuer, has signed a Memorandum of Understanding (MoU) with the government of Georgia to develop Bitcoin and peer-to-peer (P2P) infrastructure in the country.
This strategic collaboration between Tether and the Georgian government aims to build key infrastructure to support a thriving startup ecosystem and attract international attention and investment towards the decentralized space.
The partnership focuses on several areas of development, including education on Bitcoin and blockchain technology, building payment infrastructure for merchants, and establishing a resilient, open, and private P2P communication system [1].
By creating a favorable environment for peer-to-peer technology usage, Tether aims to empower cities and facilitate the adoption of blockchain technologies such as Bitcoin.
The collaboration also involves the creation of a special fund for local startups in Georgia. This fund will provide assistance in the development of blockchain technologies and position Georgia as an attractive ecosystem for technological startups.
By fostering a thriving startup ecosystem and highlighting favorable working conditions and a high quality of life, Tether and the Georgian government aim to attract international attention and investment, stimulating the growth and success of innovative startups in the blockchain space [2].
Additionally, the collaboration between Tether and the Government of Georgia will explore the development and implementation of a robust and independent communication and financial system.
This includes fostering the adoption of digital communication and payment systems based on peer-to-peer technologies and enhancing existing infrastructure to ensure resilience and reliability in supporting blockchain-based solutions. The partnership aims to transform public administration and the private sector, ensuring the delivery of effective and reliable services to citizens.
Moreover, Tether and the Georgian government will work closely with local academic institutions to develop educational programs and initiatives. These efforts aim to empower students and professionals with the knowledge and skills required to excel in the cryptocurrency industry, covering areas such as blockchain technology, stablecoins, and peer-to-peer systems.
By strengthening the blockchain ecosystem, fostering innovation, and promoting Georgia as a global leader in blockchain and peer-to-peer technologies, the collaboration seeks to benefit the local startup community and elevate Georgia’s reputation as an attractive destination for companies and professionals worldwide [3]
