Charles Hoskinson signs Cardano Atala deal with government of Georgia

Charles Hoskinson, the CEO of IOHK and co-founder of Ethereum, signed a memorandum of understanding with the minister of education of Georgia and the Free University of Tbilisi to use Cardano and Atala for a blockchain-based credential verification system.

First MoU signed with the Minister of Education to explore using Atala and Cardano to build a next generation credential verification system for Georgia and beyond pic.

The MoU represents a broad outline of the agreement between IOHK and the government of Georgia and Free University of Tbilisi reached through negotiations but it is not a legally binding document.

It does signal the intention of all parties to move forward with a contract.

Atala is IOHK's enterprise blockchain solution, similar to IBM's Hyperledger Fabric, with applications such as registrations and deeds, localized currencies, and supply chain catered towards governments.

Unlike Hyperledger Fabric, Atala will focus on cryptocurrency adoption according to Hoskinson.

Atala may expose the Kingdom of Georgia's 10 million people to Cardano and its Ada token.

In May, IOHK inked a similar deal with the Ethiopian government to build a payment system in Addis Ababa, the country's capital.

The price of the Ada appears unaffected by the news.

Relative to Bitcoin, ADA is down 0.23 percent over the last 24-hours.