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The share of people working with crypto-currencies in Georgia reached 5%

Mining is widely developed in the country.

11.May.18 8:40 AM
By Shawn Highstraw


The share of people working with crypto-currencies in Georgia reached 5%
According to analysts, with each month more and more people join the crypto-currency community. Despite the fact that at the moment the number of holders of digital money remains rather modest in comparison with the number of those who invested in gold or real estate, this indicator is growing quite rapidly.

As Forbes experts managed to find out, about five percent of households in Georgia are related to the crypto-currency market. It is worth noting that this is not only about those who bought bitcoins or other virtual currencies, but also about those who are engaged in mining. The fact is that in this country is located one of the largest enterprises in the sphere of mining of crypto-currency.

Hans Timmer, Chief Economist of the World Bank, explained this trend by the availability of electricity and the tax incentives for companies. In his opinion, in the future the authorities of the state will have to think about the safety of consumers and the establishment of financial supervision.

By the way, Bitfury data centers are located in Georgia. This company interacts with the federal leadership in the implementation of blockchain technology.

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