• Tether, a stablecoin issuer, has signed an MoU with the Georgian government to develop Bitcoin and peer-to-peer infrastructure.
• The collaboration will focus on building key infrastructure for a thriving startup ecosystem in Georgia.
• The partnership aims to foster the growth of P2P technology at a state level and help build financial tools around it.
Tether Signs MoU with Georgia
Stablecoin issuer Tether has signed a memorandum of understanding (MoU) with the government of Georgia to develop Bitcoin and peer-to-peer (P2P) infrastructure in the country. The strategic collaboration between Tether and the Georgian government will focus on building key infrastructure for a thriving startup ecosystem in Georgia.
Objectives of the Collaboration
The collaborative effort aims to attract international attention and investment toward the nascent decentralized space. The partnership aims to foster the growth of P2P technology at a state level and help build financial tools around it. Some of the key areas of development include education on Bitcoin (BTC) and blockchain technology, building payment infrastructure for merchants, and developing a resilient, open and private P2P communication system.
Creating an Autonomous Financial System
Tether said that the partnership with the Georgian government would also look at creating and implementing a strong autonomous financial and communication system. This entails encouraging adoption of P2P technology based digital payment and communication systems, as well as improving existing infrastructure to ensure its robustness and dependability in supporting blockchain-based solutions.
Contribution towards Public Administration & Business Sector
The collaboration intends to bring changes to public administration and business sector. Georgia will create a special fund for local startups to help develop blockchain technologies which would position Georgia as an attractive ecosystem for tech startups globally.
Conclusion
Tether’s collaborative effort in Georgia is not its first one over years many crypto companies have partnered with governments across different countries globally aiming towards developing blockchain based solutions benefiting public administration & business sectors .