Ripple CEO Brad Garlinghouse met with Georgian Prime Minister Irakli Garibashvili and Deputy Prime Minister Levan Davitashvili during his trip to Davos, Switzerland.
Georgia boosts its interest in cryptocurrencies
At the 2022 World Economic Forum event, Georgian Prime Minister Irakli Garibashvili met with Ripple’s Brad Garlinghouse to discuss blockchain technology and regulation.
“Great interview with Brad Garlinghouse, CEO of Ripple! We shared Georgia’s vision on the future of blockchain and regulation.
With a business-centric environment and an innovative approach, we want to become a center of technology and innovation. We shared Georgia’s story as the first country to introduce blockchain to utilities“.
Georgia is notably a forerunner of blockchain technology, having been the first nation in the world to integrate it into different areas of public administration – including the land registration process where costs are reduced by 30%. Last April, Georgia made a statement to indicate that they are working on regulating the cryptocurrency market.
According to the Prime Minister of Georgia, the Georgian market is favorable in the development of digital assets and is growing rapidly. It was noted that with young, experienced and competitive human capital, Georgia is becoming a global and regional multifunctional center for financial services and technical and innovative industries.
Thanks to its reputation and friendly business environment, Georgia has become a world leader in the ease of doing business. In developed markets, the country is in the same category as the United States, Singapore, Denmark, Norway, and the United Kingdom.
Ripple’s Twitter account has retweeted the publication, adding that it was an honor to meet the foreign dignitary.
According to reports, the Prime Minister of Georgia also made an offer to the CEO of Ripple during the meeting.
“The Prime Minister proposed to the CEO of Ripple to open a business service center in Georgia and noted that Georgia has a favorable investment environment and the country has a stable situation.“
That said, Ripple seems well aware of Georgia’s favorable stance towards cryptocurrencies and perhaps the company’s opportunity to make global money transfers as cheap and easy as possible for Georgians.
In the United States, Garlinghouse and Ripple are still involved in a lawsuit filed by the Securities and Exchange Commission (SEC), which accuses Ripple Labs of issuing XRP as an unlisted security.
Meanwhile, Garlinghouse told World Economic Forum attendees that the United States lags behind in establishing clear rules for the cryptocurrency industry.
Georgia is looking for innovations and easy payment methods. The country is already considered an Eldorado for digital nomads and adding a regulation favorable to cryptocurrencies would attract even more investors. Ripple could therefore benefit from this growing interest from this Caucasian country.
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