Georgia: The New Blockchain Giant

In today’s global cryptocurrency mining industry, China’s Bitcoin network computing power takes the lead, easily accounting for half the total. However, with cryptocurrency mining gradually attracting the attention of other countries, China is starting to face challenges from international forces. Nonetheless, as the mining competition gets fiercer, the future direction of cryptocurrency mining becomes more uncertain, resulting in the following question: Where is the next breakthrough in global mining development?

All the answers are expected to be announced by the top experts of the cryptocurrency mining industry in Tbilisi. That, in itself, might be an answer already.

Emercoin announced in early August the successful implementation of its open-source “Trusted Diploma” blockchain platform by the Tbilisi Business & Technology University (BTU). As blockchain grows beyond conventional financial technology (fintech), to empower other industries with new levels of security and immutability, the unique collaboration between Emercoin and BTU marks a new phase in the technology’s expansion. Emercoin is a blockchain platform opened in 2013 and used by companies such as Coca-Cola and Microsoft. Currently in use by BTU, the “Trusted Diploma” platform uses blockchain to provide the education sector with verifiable diplomas and other certificates on an encrypted and secure app. The app ensures that the competencies of all graduates are easily and clearly verified.

The collaboration of the education sector and a cryptocurrency company aims to help schools, businesses, and graduates validate the online accuracy and authenticity of education credentials. This ground-breaking blockchain system enables administrators to store and share verifiable diplomas and other education certificates on an encrypted and secure app.

“Much like the little check mark on Twitter or Facebook profiles, companies like LinkedIn or could use this to validate the data represented on profiles, ensuring that data is tamper-proof and accurate,” said Emercoin advisor Bill Tai.

Emercoin and BTU are addressing a complicated social issue together, in both developed and developing countries. Due to widespread corruption and manipulation, online displays of education credentials are increasingly viewed as unreliable. Some graduates also face difficulty obtaining their records from colleges or school systems that have closed or otherwise refuse to recognize their legitimate credentials. This problem was cited as a global crisis in a 2016 report to UNESCO and the Council for Higher Education Accreditation.

Through secure, distributed blockchain services, Emercoin has managed to come up with a solution to this problem which graduates and companies suffer from.

“Trusted Diploma will help us combat growing levels of manipulation and corruption and ensure that the education credentials we see online are valid,” said Kostiantyn Bigus, Emercoin Managing Partner. “We urge everyone to join our effort, which will improve professional services and protect people from dangerous fraud in the health care, legal, real estate, and other sectors.”

The BTU, which opened in 2016, offers students innovative new approaches to learning, and by partnering with Emercoin, they made this platform possible and simultaneously boosted the blockchain industry in Tbilisi.

“We are very happy to work with the innovative Emercoin team on this crucially important project. The Trusted Diploma platform will help our school build a secure and immutable database of education certificates, which will help our graduates as they pursue successful careers,” said Mikheil Batiashvili, the BTU university rector and Minister of Education, Science, Culture and Sports of Georgia.

Tourism and wine have been shaping Georgia of late, as it will going forward. And yet, the country has been noticed for more than just its beauty and culture, which is why the 2018 World Digital Mining Summit will be held in Tbilisi, taking place September 21 - 23. This summit has invited over a 100 top experts from more than 30 countries, including blockchain giant China, the United States, the United Kingdom and others from Europe. The biggest leaders of the global mining industry will gather to explore the development of cryptocurrency mining, including both the challenges and opportunities in the industry.

This summit is proof of the growth Georgia has experienced as it becomes a regional leader in the use of blockchain technology. The world’s first cryptocurrency terminal was born in Tbilisi and after this summit, many people will be considering Tbilisi as the next possible blockchain giant in the years to come. Many people will also be staying in Tbilisi after the summit to attend the NEO Hackathon+, taking place a few days later, from September 28-30.

Spotcoin announced that it has partnered with the Georgian American University (GAU) and GEOLAB to focus on blockchain projects in the public sector. 

Focus on Georgia is constant, with current issues regarding territory disputes, NATO membership, tourism and investment; however, September is going to mark a new focus point in Georgia; the potential of its becoming a new blockchain giant.

By Shawn Wayne

03 September 2018 16:13