NEWS

IOHK, the company behind Cardano's Blockchain project, signed a non-binding memorandum of understanding with Georgia's Ministry of Education and Science.

The initiative hopes to integrate the Blockchain technology in its services and advance in its goal of becoming a "technological business center".

Input Output, or IOHK, one of the three companies that support the development of the Cardano ecosystem, announced that the collaboration would last two years and would mainly focus on protecting against the manipulation of the country's expanding university system.

According to information published in a statement, Cardano will also help new FinTech companies focused on Blockchain of Georgia. In addition, it will improve the security of the handling of "confidential data" and integrate the "functionality of intelligent contracts" into government services.

Promote the adoption of Blockchain

In addition, the company will support "the current work of the Ministry to ensure that the qualifications from the Georgian universities are comparable with the qualifications of higher education institutions throughout the European Union", although at the moment there are no further details of how it will be carried out. This joint work out.

The association is framed as the next step in the "clean-up" project, which is driving Georgia against the cases of corruption that shook the country during the time it was part of the Soviet Union. Studies estimated that during those years, up to USD $ 30 million was spent annually to bribe university officials.

Great crypto interest in Georgia

These types of initiatives are important steps, and recently other organizations and companies in the sector have been promoting similar initiatives. Among these, IBM's Blockchain group negotiated a similar agreement with the government of Azerbaijan a few days ago, Yahoo News reported.

Meanwhile, it was reported that the US Customs and Border Protection Agency. is collaborating with Factom to develop a shipment tracking system based on block technology. And Cardano himself joined forces with the Ethiopian government last year to test a Blockchain solution for farmers.

Georgia, however, can be a particularly fertile ground for the growth of a Blockchain project. In the region there is a great interest in technology and it is estimated that 5% of households are mining cryptocurrencies. The government has already partially developed a vast registry of the sector along with mining giant BitFury.

However, according to a New York Times report, the collaboration of Bitfury - in which the company was granted a total tax exemption - leaves some doubts as to whether it really is an initiative to curb corruption , or if it is a plan orchestrated by former government officials who see the opportunity to legitimize capital. Critics also question the opportunity that was granted to Cardano within this context, precisely because it is a very lucrative participation for the associated companies.