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Georgia Develops Blockchain in Education, Ministry Services

Georgia Develops Blockchain in Education, Ministry Services

Georgia’s government has signed a memorandum of understanding (MoU) with blockchain firm Input Output Hong Kong (IOHK) to collaborate on the implementation of blockchain-based projects in government, businesses, educational institutes.

The MoU signifies partnership between the two entities to develop the operational, technical, and commercial capacities on the ongoing and planned blockchain projects along with support for fintech businesses in blockchain and digital asset sector.

IOHK, the creator of the cryptocurrency Cardano (ADA), was founded and is currently led by crypto entrepreneur Charles Hoskinson, who is also the co-founder of the Ethereum (ETH) blockchain.

The MoU primarily identifies higher education as requiring the utmost attention and having the highest potential for blockchain solution based improvements. In particular, the government wants IOHK to ensure secure verification of national university qualifications while developing an easy comparison system with other European institutes.

Another possible solution could involve the enhancement of security for the confidential data and integration of smart contract functionality into ministry services.

The MoU looks to project Georgia as a country conducive to business development through the implementation of the latest blockchain tools. Mikheil Batiashvili, Minister of Education, Science, Culture and Sport, has also pointed how the country has progressed by leaps and bounds in the World Bank’s Ease of Doing Business index, moving up from the miserable 112th ranking to 6th in 2018.

Much of this improvement can be attributed to the Georgian government’s blockchain-friendly and low-regulation policies. One such example is how, in 2017, Georgia became the first nation to implement distributed ledger technology to secure and validate government records.

Besides, the country has also recorded the highest-growing electricity consumption per capita in entire Eastern Europe and Central Asia since 2009, with reports suggesting a staggering 10-15% of electricity consumption devoted entirely to crypto mining.


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Rise of the Blockchain Research Lab: The Latest Trend in Crypto

Blockchain labs are becoming increasingly more prevalent in the industry for research as a backbone to a sound strategy of strong blockchain development.

In the current climate, companies are searching for solid foundations on which to build projects. Research and development projects created in the labs are beginning to offer startups this security. Labs can highlight the opportunities available and long-term potential of a given project prior to companies diving into the deep end untested.

The lab trend is growing. Cardano, for example, is one platform which has been established with a research-based approach. Blockchain development firm IOHK, led by Charles Hoskinson, launched Cardano last year using its peer-reviewed academic research driven base to consider the needs of both users and regulators. Funding will be utilized to finance research staff, PhD studentships and a virtualized blockchain environment moving into the future.

As reported last month by Bitcoin News, even the Russian military has announced its own blockchain lab, this time targeting cybercrime in the country’s military infrastructure information systems. The ministry has initiated a program to enhance cybersecurity by setting up a special unit using a unique research laboratory at the Anapa-based ERA technopark, in order to track the origins of cyber assaults. The unit will now use blockchain technology to improve the systems database security.

In June, the National Mathematics and Interdisciplinary Science Centre at the Chinese Academy of Sciences created the Big Data and Blockchain Lab, in a partnership with Beijing Tai Yun Technology Company. This new laboratory aims to explore blockchain technology with mathematics in order to make critical improvements.

Again in China, the Digital Currency Research Lab of the People’s Bank of China (PBoC) has announced that it is to expand its blockchain research efforts, by launching a new fintech center in Nanjing, in Jiangsu Province, with other cities yet to be announced, also located outside of the capital Beijing.

The goal of these labs is to develop programs to trial in banks and academic institutions such as PBoC’s Jiangsu branch, the Bank of Jiangsu and the University of Nanjing.


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