Kumsishvili, World Bank Discuss Cryptocurrencies & Blockchain Technologies

First Vice Prime Minister of Georgia, Minister of Economy and Sustainable Development Dimitry Kumsishvili and the World Bank delegation headed by Hans Timmer, the Chief Economist of the World Bank for Europe and Central Asia region, have discussed opportunities of the development of the cryptocurrencies and the blockchain technologies in Georgia.

The meeting was held on February 19 in Tbilisi.

Georgia’s Ministry of Economy reports the World Bank representatives highlighted that the production of bitcoins and the blockchain technologies in general are very well developed in Georgia, adding the country is among the leaders in this field.

“The World Bank found in necessary to study the experience that public and private sectors of Georgia have accumulated in this regard, particularly in the use of the blockchain technologies,” the ministry reports.

Furthermore, the World Bank representatives expressed interest in the current situation in the field and the visions and prospects of the further development of those technologies in Georgia.

The WB delegation also plans to meet non-governmental sector and other state agencies as well.

By Thea Morrison