Georgian Government Partners with IOHK to Create Blockchain In Education And Government Services

The blockchain is slowly but surely being accepted by many governments around the world. Now, the newest government to use it is the one from Georgia. The national government has signed a Memorandum of Understanding (MoU) with Input Output Hong Kong (IOHK).

This partnership will see the two companies implementing blockchain-based projects that will be focused on education, business and services. According to the document that was signed by the Georgian Ministry of Education and the blockchain company, the two organizations are set to collaborate on creating a blockchain.

According to the project, this blockchain will be used in order to support local fintech businesses and to create more educational capabilities.

In case you have not heard about IOHK so far, you should know that the company created a top cryptocurrency called Cardano (ADA). It was originally founded by Charles Hoskinson, who is currently also the CEO. Hoskinson was also an Ethereum co-founder together with names such as Vitalik Buterin and Joe Lubin.

The government of Georgia has identified higher education as the area that needs the blockchain the most. One of the goals is to use it to secure the verification of the diplomas and of the qualification of the universities as well.

Another functionality of the partnership will be in the development of security for confidential data and for the creation and integration of smart contract technology in several areas of the government.

This is a part of an effort from the country’s government in order to become more attractive to businesses in order to develop its economy. The Minister of Education and Science, Mikheil Batiashvili, affirmed that the country has been raised from 112th to 6th in the Ease of Doing Business Index of the World Bank recently, so they are on the right track.

It is not a surprise that Georgia has been very friendly to the blockchain technology recently. The country has been following a path of low regulation and positivity ever since the country started to use the blockchain back in 2017. Georgia is also notorious for crypto mining, as many companies have settled in the country in the last few years.