Georgia is fortunate to be located at the crossroads of East and West. This grants the country an incredible geographical advantage in terms of leveraging the capabilities of the global banking sector. Furthermore, Georgia has a strong and resilient banking sector, a stable currency, and a progressive, future-oriented national bank that supports entrepreneurs and innovators in the country. Patrick Tan, General Counsel of the Singapore-based blockchain intelligence firm ChainArgos, said this at the Tbilisi Financial Summit.

According to his assessment, Georgia is part of a strategic corridor connecting Europe and Asia, which creates significant potential for the country to attract capital, human resources, and investments, as well as to develop financial and digital infrastructure.

“Georgia’s strategic geographical location, resilient banking sector, and thoughtful approach toward digital asset regulation enable the country to capitalize on significant opportunities within the international financial arena”, - said Patrick Tan.

He also highlighted Georgia’s approach to developing a legislative framework for regulating virtual asset service providers. In his view, the country succeeded in taking into account the experiences of other nations and chose a consistent and well-thought-out direction for digital asset regulation: “We often see countries rushing into regulating digital assets, virtual assets, and stablecoins, but they don't always make the right decisions in the process. In Georgia’s case, we saw a firm and deliberate initiative to handle the process correctly from the very beginning, before embarking on its large-scale implementation”.

According to Patrick Tan, this approach also places Georgia in a favorable position regarding the development of artificial intelligence and autonomous payments. He mentioned that as payments across global networks become increasingly digitized and autonomous, Georgia can become an active participant in these processes.

ChainArgos is a Singapore-based private company whose platform enables users to track and monitor the movement of crypto assets across blockchain networks, analyze transactions, and identify suspicious financial flows.