World Bank: Georgia leader in blockchain technologies
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The production of bitcoins and blockchain technologies are very well developed in Georgia and furthermore, the country is among the leaders in this field, believes a World Bank delegation to Georgia.
Headed by Hans Timmer, the Chief Economist of the World Bank for Europe and Central Asia region, the World Bank delegation visited Georgia yesterday and met the country’s Economy Minister Dimitry Kumsishvili.
Opportunities of the development of blockchain technologies in Georgia were the main topic of discussion at yesterday’s meeting.
While highlighting Georgia’s leading position in the world with its well-developed blockchain technologies, the World Bank also found it necessary to study the experience that the public and private sectors of Georgia have gained in this regard.
The World Bank delegation also plans to hold meetings with other government agencies as well as the private sector, where blockchain technology has been introduced as well.
Two new logistic centres will be built in Georgia’s third largest city Kutaisi and in the village Kumisi, near capital of Tbilisi to cement Georgia’s reputation as a logistics hub country.
The World Bank is continuing to help Georgia improve its main transport artery, the East-West Highway, by offering €16.9 million.
Georgia and the World Bank are celebrating 25 years of partnership today.
Georgia will receive a credit line to the amount of €44.6 million from the International Bank for Reconstruction and Development (IBRD).
Georgia is taking steps to introduce smart contracts in real estate registrations that can help enhance transparency and efficiency and reduce costs.
Tbilisi will host the meeting of the World Bank executive board for the first time in May this year, Georgia’s Finance Minister Mamuka Bakhtadze said after meeting with the World Bank Group’s Executive in Washington DC yesterday.
The World Bank is ready to support the successful implementation of current and planned reforms by the Government of Georgia, says the Executive Director of the World Bank Group and the bank’s representative in Georgia Frank Heemskerk.
The World Bank Group Board of Executive Directors has endorsed the 2019-2022 Country Partnership Framework (CPF) for Georgia, which aims to support sustainable and inclusive growth and improve living standards in the country.
Speaking at the Constituency Meeting organised by the International Monetary Fund and the World Bank in Croatia, Mamuka Bakhtadze presented his views on existing possibilities and challenging with regards to financial technologies.
The Blockchain for Enterprise conference took place in Amsterdam on June 27-28 this week where a presentation displayed how Georgia successfully implemented blockchain technology in real estate registration.
Georgia’s logistics performance has improved, jumping 11 places from 130th to occupy the 119th position on the World Bank’s recently released Logistics Performance Index (LPI) 2018 report. The 2018 Logistics Performance Index scores countries on how efficiently they move goods across and within borders.
Georgia has reached a historic high in terms of effectiveness of corruption control and governance, reveals the World Bank report ‘Worldwide Governance Indicators’.
The Georgian Education Ministry and global leading technology company Input Output HK Ltd have signed an agreement earlier today to use revolutionary blockchain data technology in the Georgian education field.