Tether, the stablecoin issuer, has signed a memorandum of understanding with Georgia Government to develop the infrastructure for Bitcoin peer-to-peer (P2P) technology in the country. The strategic partnership between Tether and the Georgian government focuses on building key infrastructure for a thriving startup ecosystem in Georgia.
The joint efforts aim to attract international attention and investment towards the emerging decentralized space. The partnership seeks to promote the growth of P2P technology at a governmental level and assist in building financial tools around it. Some key areas of development include educating about Bitcoin and blockchain technology, constructing a payment infrastructure for merchants, and developing a promising, open, and private P2P communication system.
Tether stated that the partnership with the Georgian government will also explore the creation and implementation of a robust and independent financial and communication system. This includes encouraging the adoption of P2P-based digital payment and communication systems, improving the current infrastructure to ensure its strength and reliability in supporting blockchain-based solutions. These collaborations aim to bring about changes in public administration and the business sector.