Ripple CEO Meets With Georgian Prime Minister To Discuss Blockchain Adoption

May 25, 2022 2:12 pm

Ripple CEO Brad Garlinghouse has recently met with Georgian Prime Minister Irakli Garibashvili to discuss blockchain adoption within the nation of Georgia.

The prime minister was also present at the World Economic Forum that was held in Davos this year where he discussed crypto and regulations with Garlinghouse.

Based on the discussion, it is indicated that Garibashvili intends to bring blockchain into the public services sector and had a very positive reaction to the discussion with Garlinghouse.

If Georgia is able to do this, it could possibly make it the first country to truly adopt blockchain technology into public services which would turn it into a major crypto innovation hub.

DailyHodl reports:

At Prime Minister Garibashvili’s side was Vice Prime Minister Levan Davitashvili. The meeting took place in Davos, Switzerland, host of the 2022 World Economic Forum.

According to local reports, the Georgia Prime Minister also made an offer to the Ripple CEO during the meeting.

“The Prime Minister offered the CEO of Ripple to open a corporate service center in Georgia and noted that Georgia has a favorable investment environment and the country has a stable location.”

Stateside, Garlinghouse and Ripple are still embroiled in a lawsuit filed by the U.S. Securities and Exchange Commission (SEC) alleging Ripple Labs issued XRP as an unregistered security.

The prime minister also made a very unique offer to the Ripple CEO by offering to open a corporate service centre in Georgia.

The offer did make sense given that the country provides a pro-crypto environment that is quite the contrast when it comes to the regulation that is happening back in the US.

So far, investors expect the Georgian market to continue to be very receptive to the adoption of digital assets and could potentially become a future global leader when it comes to the digital assets industry.

The country has also recently applied for EU membership and could help influence other EU nations in the future as it expands its influence.

GeorgiaOnline.ge reports:

According to the Prime Minister, the Georgian market is favourable in terms of the development of digital assets and is developing rapidly.

It was noted that with young, experienced and competitive human capital, Georgia is becoming a global and regional multifunctional hub for financial services and technical and innovative industries.

Thanks to its reputation and friendly business environment, Georgia has become a global leader in terms of ease of doing business.

The country in the developed markets is in the same league as the United States, Singapore, Denmark, Norway and the United Kingdom.

According to the head of government, Georgia has developed a preliminary draft of the legislative base for the regulation of virtual assets, at this stage the bill is being discussed with various stakeholders, after which it will be submitted to parliament, and the drafting process should be completed by the end of the year.

As far as what this means for Ripple, this cooperation would likely allow Ripple to lead the race in the blockchain sector in another region in the world which will help solidify its global network.

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