The business leader of IOHK and co-creator of Ethereum Mr. Charles Hoskinson, has recently signed MoU with Georgia government. The primary intention is to devise blockchain in various sectors like business, government services, and education. The news surfaced on 17th June through a press release.
IOHK and government of the country of Georgia announce a blockchain technology partnership with the signing of a MoU today. Together, they will explore blockchain-enabled solutions for the Ministry of Education and Science using Atala and Cardano.
— Cardano Foundation (@CardanoStiftung) June 17, 2019
IOHK is the firm behind the digital currency Cardano (ADA). The MoU that has been signed by the two parties does not represent any legal bindings; instead, it clarifies the intention of both to move forward with an agreement. The MoU was endorsed by the business leader of IOHK and ministry of Education of Georgia so that Atala and Cardano can be used for authentication of credentials.
IOHK launched Atala; it has similarity with hyper ledger fabric system of IBM. It can be useful for the property registration system, supply chain, and voting. Atala was created to deliver financial facilities to millions of people of Africa. It was titled after a butterfly found in Florida. It was built in association with the Ethiopian government.
Cardano is ranked 11th as per market capitalization; the current price of Cardano is $0.90. The cryptocurrency is undergoing a continuous rise in price over the previous few days. Cardano is getting its share of recognition slowly, and recently it found adoption in Barbeque Restaurant of Japan.
The government of Georgia has identified the education section as a vital industry where blockchain based solution can be implemented for the verification of qualification of national universities and compare them with European standards.
So far, Georgia has maintained a friendly stance with blockchain technology with low regulations. They are the first country to implement blockchain technology to protect and authenticate government records.
The Cardano and IOHK community are happy about the partnership, but it remains unclear to them how will it benefit Cardano as an asset. But the thing which holds maximum importance is the fact that with this partnership, cryptocurrency has moved a step closer to government adoption.
IOHK is also engaged in an MoU with blockchain & cryptocurrency association of Mongolia to promote the use of distributed ledger technology in that country.