Georgia to Host Inaugural Black Sea Blockchain Summit

Innovative FinTech company Spotcoin is holding the first-ever Black Sea Blockchain Summit at Fabrika Tbilisi. The April 25 event aims to explore the global hot topic of blockchain and other distributed ledgers, their impact on FinTech, and how the disruptive technology is creating business opportunities in the Black Sea region. The Sessions will focus on business, governmental and educational topics, complemented by panel discussions and face-to-face meetings with international speakers.

In an interview with GEORGIA TODAY, Sean Mulcahey, Chief Strategy Officer of Spotcoin, discusses the importance of knowledge about digital currency and its development in Georgia. Mulcahey is an innovator and master strategist with a wide range of expertise and experience in the public, private, and non-profit sectors. He has lived and worked across Europe, Eurasia, Africa, and the Middle East for more than 20 years. His travels to nearly 50 countries helped form key insights into different cultures and the international environment.


There is a movement around the world with this new technology and many companies are looking for ways to take advantage of it and bring in a new smart economy. Basically, it is going to create new opportunities for businesses and for consumers. For Spotcoin, the main objective is to look at the latest technology and find ways to offer the marketplace new opportunities for economic development.


Our main objective is to make participation in the new economy much easier and simpler. We are designing a number of services to achieve that, including a digital exchange and payment system that will function interchangeably with digital currencies, popular internationally-used fiat currencies, and local currencies. Alongside that, we are trying our best to focus on education, because this is a new technology for everyone. Part of our strategy is to educate businesses, governments, and educational institutions and to give them more information about the effectiveness of this new technology and how it can be used.


Spotcoin is bringing in experts from all over the world including speakers from China, the US, Western and Eastern Europe, and the Black Sea region. The main focus of the Summit is to examine opportunities and challenges and have discussions about how we can take advantage of them.

Blockchain technology really ties the world together. Spotcoin has a commitment to Georgia, and to this entire region. We see Blockchain as a unique opportunity to raise the level of the economy. It’s really a game changer as far as economic activity is concerned. One of the most remarkable things about it is that it aligns the interests of everyone participating. For example, it aligns the interests of business and consumers in ways that don’t necessarily occur now. It’s going to have a good effect on energizing economic activity and exchanging value across the board. There are some challenges with the new technology, though, which can be addressed by good governance. The government can step in with proper regulations to prevent criminal activities, in addition to streamlining regular legitimate functions like taxation and consumer protection.

Georgia is a pioneer in the Black Sea region digital currency market and the blockchain industry: over 15% of the world’s bitcoin mining takes place in Georgia and local government has already adopted blockchain technologies within its operations.

The Black Sea Blockchain Summit will host over 10 speakers and 100 attendees to enhance understanding of the value of blockchain technology and digital currency; explore the disruptive effects and opportunities of the technology and discuss regulatory issues and solutions in a cross-functional atmosphere with attendees.

International speakers together with Georgian top presenters will discuss pressing business issues, aiming to guide Summit guests in identifying and sourcing blockchain projects and partnerships; understanding the Demand Crisis and how to bridge gaps in blockchain knowledge and skills; and in establishing networks, public-private partnerships, and strategic alliances.

Spotcoin is an over-the-counter clearing house that provides ease of movement between fiat and digital currencies. The company was founded in 2016 in Georgia, expanding into a multi-faceted powerhouse engaged in mining operations, education in the Black Sea region, and development of a global digital exchange based in Georgia. Spotcoin bridges the gap between the traditional banking sector and the emerging smart economy, making digital currencies work for everyone.

To purchase tickets for the Black Sea Blockchain Summit, visit the event website:


Nia Pataraia

02 April 2018 20:09