Cryptocurrency Mining & the Future of Cryptocurrencies in Georgia

Cryptocurrencies are becoming increasingly popular in the fintech world, with lots of people looking to make bitcoin investments. Cryptocurrency, a digital alternative to paying in traditional currency, operates using special technology, blockchain technology, and bases itself on the concept of a decentralised network. It has become popular in Georgia, the world’s third biggest cryptocurrency mining country, although the country’s fiat currency, the Lari, is still the main currency and cryptocurrency is not yet legal tender in the country.

How did it all begin?

US-based cryptocurrencies may have had an influence. Like many other countries, Georgia likes to produce wine, but now in some of the country’s wine regions, you’ll now find huge cryptocurrency mining centers, like that of US-based tech company Bitfury. Despite the Georgian government’s advising the public to tread carefully with cryptocurrency, the nation appears to be embracing virtual currency. Not…