Cryptocurrency exchange Binance will introduce educational and other initiatives associated with blockchain in Georgia to help the country in developing its crypto sector.
The top trading platform has introduced similar projects in other countries in the region as part of its efforts to expand its presence.
Blockchain
Binance, the largest crypto exchange in the world in terms of trading volume, recently announced that it had signed a memorandum of understanding with the Agency for Innovation and Technology in Georgia (GITA).
The two parties are planning on working together for developing the country’s crypto sector and this will include rolling out educational and community initiatives related to the blockchain space.
Back in November, the Prime Minister of Georgia, Irakli Garibashvili, and Changpeng Zhao, the chief executive of Binance, had a meeting.
The two had talked about investments in the said meeting and it eventually led to this agreement.
According to a press release, the collaboration would cover projects by Binance Charity as well as those by Binance Academy.
As a matter of fact, BNB Chain will also organize local hackathons and events as part of the agreement.
The statement
Vladimir Smerkis, the Regional Director of Binance, said that their goals were in line with those of the Agency for Innovation and Technology in the country.
He said that working together would help them in developing an effective system that could promote technology and innovation in Georgia.
He said that Georgia had shown a great deal of interest in the crypto market, specifically crypto education. He added that the country had proven to be one of the region’s most innovation-driven nations.
Avtandil Kasradze, the chairman of GITA, highlighted that the workshops and hackathons related to blockchain tech that will be conducted in the country’s tech parks would help in launching new startups.
He also said that this would be helpful in introducing projects that are focused on commercialization.
Other initiatives
It should be noted that since Georgia has proven to be a crypto-friendly nation, it is not the first initiative that Binance has taken in the country.
Georgia is also planning to legalize the crypto industry by updating regulations that would apply to digital assets.
The leading coin trading platform announced in January that it had signed a memorandum of cooperation with the Business and Technology University (BTU) in Georgia.
This agreement was for providing students of the institute with blockchain education. The educational materials related to blockchain, NFTs, Web3, and crypto will be provided by Binance Academy.
Other such initiatives have been launched by Binance in a number of other nations in Eastern Europe, the Caucasus region, and the post-Soviet space because it is interested in expanding its presence.
A blockchain education program had also been introduced by Binance in universities in Kazakhstan back in December.
The crypto exchange also offered its assistance to Azerbaijan in order to help the country in adopting crypto regulations.