Earlier this week, the Government of Georgia inked a Memorandum of Understanding (MOU) with Tether, paving the way for the development of peer-to-peer (P2P) and blockchain infrastructure in the Eastern European country.
The project is meant to turn Georgia into a leader in the crypto industry, which in turn, would boost the country’s economic growth. One of the key stipulations of the collaboration deal is creating a fertile environment for blockchain startups.
Tether to Create a Special Fund for Startups in Georgia
As per the deal, Tether is meant to create a fund for local startups in Georgia which would provide assistance for projects focused on blockchain development. In turn, this would inspire the growth of similar industries as well, practically making Georgia a regional hub for modern tech.
The initiative will support Georgia-based startups, as well as inspire foreign companies to make this country their new home.
In addition, Tether will also work closely with Georgian educational facilities with the intention of bringing the blockchain universe closer to locals. Right now, this sector is still in its infancy in Georgia, but the new Tether deal is supposed to lift it to a whole new level in a few years’ time.
The company has already made important steps in expanding blockchain education in Georgia. Back in May, Tether signed an MOU with Georgia’s Business & Technology University (BTU), with plans of establishing educational programs focused on blockchain and P2P technologies.
One of those programs is already in motion, with eight lectures by leading crypto experts from Georgia and beyond set for the next semester.