Georgian Govt Partners With IOHK To Explore Cardano Blockchain’s Potential

Blockchain, News | June 20, 2019 By:

The government of Georgia and two of the country’s largest universities have signed a Memorandum of Understanding (MoU) with blockchain research and development firm IOHK.

IOHK is a research and development company and industry leader in the fields of cryptography and distributed systems. In September 2017, IOHK developed the Cardano blockchain to run smart contracts, decentralized applications, side chains, multi-party computation, and metadata. Cardano is one of the first blockchains to be built in Haskell programming language, a standardized, general-purpose purely functional programming language, with non-strict semantics and strong static typing.

IOHK’s MoUs with the Ministry of Education, the Free University of Tbilisi, and the Business and Technology University of Tbilisi mark a commitment by the Georgian government to use the Cardano blockchain to fuel innovation in the country. The goal is to use Cardano to store, track, and verify educational credentials such as degree certificates, which will remove the need for time-consuming and expensive manual verification.

“Leveraging IOHK’s world-leading expertise, particularly in third-generation blockchain technology, will help us to progress even further toward our goal of being the world’s leading country for secure, digitally-enabled international business,” said Mikheil Batiashvili, the Minister of Education, Science, Culture, and Sport.

The system will be implemented in Georgia first, with a further goal of using distributed ledger technology to support the Europe-wide Bologna Process, an intergovernmental effort to improve the internationalization of higher education.

IOHK CEO Charles Hoskinson also met with the Georgian prime minister and the Minister of Agriculture to discuss other applications of blockchain technology for the country, such as supporting new FinTech businesses, supply chain implementations, and integrating smart contract functionality into government processes.

“We are incredibly excited to be working with the Georgian government on a range of projects across business, education, and government services,” Hoskinson said. “IOHK is pleased to be a part of the country’s journey and looks forward to developing the blockchain ecosystem in Georgia and helping its people to solve the challenges they face.”