Azerbaijan and Georgia launch joint project for establishing crypto exchangers
Baku, Azerbaijan, July 9
By Huseyn Veliyev – Trend:
Buroka Technologies Azerbaijan company is holding negotiations with the Bitcoin Embassy Georgia company about the issue of establishing crypto exchangers in Georgia, the Buroka Technologies Azerbaijan company told Trend.
The company told Trend that, the meetings with the Founder of Bitcoin Embassy Georgia company Alex Sudadze and investors in the Georgian market were held recently.
"We are preparing to sign a contract with Bitcoin Embassy Georgia on cooperation in this project not only in Georgia but also in Azerbaijan. But the crypto exchangers will be established firstly in Georgia. Three cryptomates have already been installed in test mode in Georgia. Perhaps, the crypto exchangers will start working by autumn," the company stated.
The company said the infrastructure is highly developed in Georgia, and this country ranks first in the region in terms of cryptocurrency mining.
"Despite the fact that there is no legislation on cryptocurrencies in Georgia in the same way as in Azerbaijan, however, mining works in this country, and works quite successfully. The Georgian business conducting model is somewhat different from the Azerbaijani one. For example, first, a project is started in Georgia, and then the legislation is prepared for that project. But the sequence is reverse in Azerbaijan, i.e. firstly, the legislation is prepared, and then the project is implemented. Incidentally, the European countries also follow this principle," the Buroka Technologies Azerbaijan company stated.
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