Reduction In Administration Costs Using Blockchain

The Georgian Finance Minister, Mamuka Bakhtadze, believes blockchain technology could help Georgia in reducing administrative costs and increasing citizens' access to public services.

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 challenges with regards to financial technologies.

"Georgia has been one of the first countries which have introduced blockchain in the public sector, but I think we could be even more ambitious in this direction,” Mamuka Bakhtadze said.

The IMF/World Bank annual Constituency Meeting aimed to discuss the current monetary, financial and development policy issues around the participant countries. It is also attended by the President of the National Bank of Georgia, Koba Gvenetadze.

The Constituency Meeting is held annually to discuss different topics influencing financial sectors globally and attended by finance ministers and central bankers from 15 countries including Georgia, Bulgaria, Israel, Romania, Ukraine, Belgium, Luxembourg, Armenia, Bosnia and Herzegovina, Croatia, Kippurs, Macedonia, Moldova, Montenegro and the Netherlands.

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11 June 2018 12:14