ADVERTISEMENT
  • News
  • New York
  • Technology
  • Culture
  • Entertainment
  • Sport
  • More
    • Politics
    • Lifestyle
    • TV
    • Games
Sunday, June 22, 2025
  • Login
No Result
View All Result
NEWSLETTER
FINCHANNEL
  • Home
  • Business
    • BANKS
      • GeoBanks
    • Finance
    • Insurance
    • Markets
    • Pharmacy
    • Press Releases
    • RealEstate
    • RealEstate
    • Finance
    • Insurance
    • Banks
      • GeoBanks
    • Markets
    • Press Releases
    • Personal Finance
  • World
    • Americas
    • Europe
    • Georgia
      • Media
    • Ukraine
    • Europe
    • Georgia
      • Media
    • Ukraine
    • Americas
    • UK local news
  • Travel
    • Hotels in Georgia
    • Tours in Georgia
  • Videos
    • Promos
    • Soundslides
    • TheClinics
    • TheHoteliers
    • TheUniversities
    • TheHoteliers
    • TheClinics
    • TheUniversities
    • BestWorkplaces
    • Soundslides
    • Promos
    • Banking Forum
      • Promos
      • Soundslides
      • TheClinics
      • TheHoteliers
      • TheUniversities
  • Opinion
    • Editorial
      • Analysis
      • GORBI
      • OP-ED
      • VISA Editorial
    • Analysis
    • Gorbi
    • Book reviews
  • Tech
  • Interview
  • People
    • lifestyle
    • Health & Beauty
      • Coronavirus
    • LifeStyle
    • Employment
      • MyCareer
    • Education
    • Media
    • Celebrities
  • Oil&Auto
    • Auto
    • Energy
  • EN
    • EN
    • GE
  • Home
  • Business
    • BANKS
      • GeoBanks
    • Finance
    • Insurance
    • Markets
    • Pharmacy
    • Press Releases
    • RealEstate
    • RealEstate
    • Finance
    • Insurance
    • Banks
      • GeoBanks
    • Markets
    • Press Releases
    • Personal Finance
  • World
    • Americas
    • Europe
    • Georgia
      • Media
    • Ukraine
    • Europe
    • Georgia
      • Media
    • Ukraine
    • Americas
    • UK local news
  • Travel
    • Hotels in Georgia
    • Tours in Georgia
  • Videos
    • Promos
    • Soundslides
    • TheClinics
    • TheHoteliers
    • TheUniversities
    • TheHoteliers
    • TheClinics
    • TheUniversities
    • BestWorkplaces
    • Soundslides
    • Promos
    • Banking Forum
      • Promos
      • Soundslides
      • TheClinics
      • TheHoteliers
      • TheUniversities
  • Opinion
    • Editorial
      • Analysis
      • GORBI
      • OP-ED
      • VISA Editorial
    • Analysis
    • Gorbi
    • Book reviews
  • Tech
  • Interview
  • People
    • lifestyle
    • Health & Beauty
      • Coronavirus
    • LifeStyle
    • Employment
      • MyCareer
    • Education
    • Media
    • Celebrities
  • Oil&Auto
    • Auto
    • Energy
  • EN
    • EN
    • GE
No Result
View All Result
FINCHANNEL
No Result
View All Result
Home Business BANKS GeoBanks

First Georgian Cryptocurrency AISI COIN Thrives, Creating the First Georgian Ecosystem for Start-ups

Gela Megeneishvili by Gela Megeneishvili
April 24, 2019
in GeoBanks
Reading Time: 4 mins read
14
A A
0
First Georgian Cryptocurrency AISI COIN Thrives, Creating the First Georgian Ecosystem for Start-ups
Share on FacebookShare on Twitter

The FiNANCiAL — As the new era of technologies has paved the way for the money digitalization process, cryptocurrency has emerged as one of the most promising financial breakthroughs of the 21st century.

In August 2017 AISI COIN was established as the first Georgian cryptocurrency, with the emission of 250 million coins.

The FINANCIAL interviewed the founder of AISI COIN, Giorgi Shervashidze, where in a barrage of questions we covered both the fundamental and specific topics concerning cryptocurrency and its role in developing the Georgian economy.

RelatedPosts

ZEG Storytelling Festival

An Atlas of Commoning: Places of Collective Production

Simple and Versatile International Payment Platform

TBC and FMO sign USD 30 million portfolio guarantee to support local MSMEs

Q. In what ways has Georgia caught up with the general development of cryptocurrency on a global scale?

A. Well, in my mind there are things that our government has done quite well. Georgia has been the first country in the whole world to announce public registry transactions via Blockchain, (the integrated secured bundle of payments that are trackable at every stage of a transaction).

However, there are follow-up steps that I would like to have seen taken towards further development. It would have been amazing if the Government integrated smart contracts in the public registry. Nowadays the system, in my mind, is outdated. When a buyer wants to purchase and register a piece of real estate, the process usually lasts days. Both parties (buyer and seller) have to expend a lot of effort to avoid misunderstanding.

Smart contracts solve the problem with ease. Once the terms are agreed by both parties, an algorithm transfers digitalized money in cryptocurrency to the recipient.

Q. Why is the development of cryptocurrency essential?

A. The reason why the development of cryptocurrency is so crucial lies in the concept of cryptocurrency itself. Emission is prohibited. The idea is that once a certain amount of cryptocurrency has been created, its additional emission is prohibited. This is great for numerous reasons, one of which is obviously no risk of inflation.

To specify further, there are two types of cryptocurrencies – coins and tokens. Coins are just currencies which have a certain exchange value. On the other hand, tokens are emitted by companies and carry a certain value of the shares of a company.

Crypto tokens enable companies’ out funding, (out funding is currently only available for a physical person, any sort of out funding for companies is prohibited by Georgian law), which is something I believe our government should really focus on incentivizing.

Companies as jurisdictional entities are well protected by laws and enable both parties (potential shareholder and the company management team) to conduct a more productive business partnership.

Imagine if these token emissions were regulated in exchange for the Georgian Lari, demand would increase and therefore the GEL would appreciate in value.

Q. Do you see the necessity for the National Bank to emit cryptocurrency?

A. Personally, I do not feel very supportive of that idea. The whole beauty is in the decentralization that cryptocurrency provides, when government-based organizations such as the National Bank are involved in the process, the sector would probably see some regulations that go against the whole concept of cryptocurrency.

In my opinion, the only role the National Bank should have, is to come up with several defensive mechanisms to defend the equity of investors.

Q. Do you see ways that the National Bank can regulate the sector?

A. I really do not see many ways. Cryptocurrency is connected to Blockchain; the transactions are trackable, the accounts are visible, my currency is on stock for purchase on the world wide web.

Again, the only intervention I would love to see from the National Bank would be to establish some sort of ethics for trading, and currency exchange in order to create a healthy financial environment.

Q. Can cryptocurrency users take out loans without the involvement of any financial intermediary?

A. The liquidity of cryptocurrency enables that precisely, and in a much more efficient way than people are used to. The primary function of a bank is to gather around lenders and borrowers anyway, and in the process they take their commission.

An online ecosystem created by our cryptocurrency enables both borrowers and lenders to choose the terms that they find appealing.

The only thing that needs to be created is regulation for interactions with the help of a smart contract. In the event a contract is broken, or the money is not given back, the lender should have compensation with some sort of asset estimated at the value in which money was borrowed (every term will be written in a contract in advance).

Q. How would you describe the business portfolio of AISI COIN and its potential for development?

A. The concept of cryptocurrency surrounds so many fields, that potential for development truly has no boundaries.

Our team genuinely believes that the aim of any company should be to create something truly valuable to mankind.

We would really love to see some sort of ecosystem, where similar to Kickstarter, many start-up companies emit their crypto tokens and seek out investors globally. This investment process is taken to a whole new level, where in just a matter of seconds anybody can get shares of presented Georgian start-up companies on a global scale.

Each company will have its individual tokens, and the single currency of purchase will be AISI COIN of course.

This is one of the main purposes of AISI COIN and we would really love to see more supportive steps taken from our government in order to accelerate the creation of such an ecosystem.

Currently, we operate on 5 stock markets globally, with 15 locations on the Georgian market and 2 on the Latvian market.

The future is bright, and we are looking forward to putting Georgia on the map.

By Gela Megeneishvili

Tags: Creating the First Georgian Ecosystem for Start-upsFirst Georgian Cryptocurrency AISI COIN Thrives

Related Posts

ZEG Storytelling Festival
All Featured

ZEG Storytelling Festival

by Gela Megeneishvili
April 8, 2025
0

What can a satirist and a data scientist teach you about war? How can a philosopher help you become a...

Read more
An Atlas of Commoning: Places of Collective Production

An Atlas of Commoning: Places of Collective Production

October 1, 2024
Simple and Versatile International Payment Platform

Simple and Versatile International Payment Platform

September 25, 2024
TBC and FMO sign USD 30 million portfolio guarantee to support local MSMEs

TBC and FMO sign USD 30 million portfolio guarantee to support local MSMEs

August 13, 2024

Discussion about this post

  • Trending
  • Comments
  • Latest
EasyJet to fly to London from Stockholm Arlanda

The London Diplomatic List, Addresses, Contacts & Working Hours

January 23, 2023
Ampersand wins £22m five-year contract at London Zoo

Ampersand wins £22m five-year contract at London Zoo

June 25, 2012
Teaching porn literacy

A sizable percentage of internet porn users, roughly 40% are women

January 17, 2024
Matthew H. Fleeger Drives Strategic Growth at Gulf Coast Western Through Technology Integration

Matthew H. Fleeger Drives Strategic Growth at Gulf Coast Western Through Technology Integration

June 19, 2025
Goga Samushia, Director of Commersant

Commersant to Launch New Multimedia Finance Project

June 14, 2025
CityBlue Hotels opens its first Beach Property in Kenya

CityBlue Hotels opens its first Beach Property in Kenya

June 19, 2025
65% of Europeans see EU membership as a good thing, the highest result since 2007 

The Enchantment of Ukrainian Women and Building Bridges through Luludate

June 19, 2025
Rewriting intelligence: How AI models are reshaping tomorrow

OPIT – Open Institute of Technology launches AI agent to support students and staff

June 19, 2025
Moldova: European Council endorses agreement on financial assistance

Republic of Moldova has improved measures to combat money laundering and terrorism financing

June 19, 2025
Valor Hospitality Partners announces two significant deals in West Africa,

Valor Hospitality Partners announces two significant deals in West Africa,

June 19, 2025
ADVERTISEMENT

Popular Last 24h

  • Teaching porn literacy

    A sizable percentage of internet porn users, roughly 40% are women

    287 shares
    Share 115 Tweet 72
  • Teaching porn literacy

    148 shares
    Share 59 Tweet 37
  • Ampersand wins £22m five-year contract at London Zoo

    3694 shares
    Share 1478 Tweet 924
  • New Jersey Hospital and Investors to Pay United States $30.6 Million for Alleged False Claims

    63 shares
    Share 25 Tweet 16
  • Global solar PV growth expected to slow to 10% in 2025, reaching 655 GW new installations

    120 shares
    Share 48 Tweet 30
  • Small domestic appliances: Trending to convenience, health and connectivity

    11 shares
    Share 4 Tweet 3
  • How to reduce the risks of psychological harm from Facebook, Instagram, Snapchat..

    44 shares
    Share 18 Tweet 11

LATEST POSTS

CityBlue Hotels opens its first Beach Property in Kenya

CityBlue Hotels opens its first Beach Property in Kenya

June 19, 2025
65% of Europeans see EU membership as a good thing, the highest result since 2007 

The Enchantment of Ukrainian Women and Building Bridges through Luludate

June 19, 2025
Rewriting intelligence: How AI models are reshaping tomorrow

OPIT – Open Institute of Technology launches AI agent to support students and staff

June 19, 2025
Moldova: European Council endorses agreement on financial assistance

Republic of Moldova has improved measures to combat money laundering and terrorism financing

June 19, 2025
Valor Hospitality Partners announces two significant deals in West Africa,

Valor Hospitality Partners announces two significant deals in West Africa,

June 19, 2025
Markets will drop quickly if US enters Israel-Iran conflict: deVere CEO

Markets will drop quickly if US enters Israel-Iran conflict: deVere CEO

June 19, 2025
Matthew H. Fleeger Drives Strategic Growth at Gulf Coast Western Through Technology Integration

Matthew H. Fleeger Drives Strategic Growth at Gulf Coast Western Through Technology Integration

June 19, 2025
Marriott launches week of wonders

MArriott International Announces Plans to Add More Than 50 Properties and Over 9,000 Rooms to Africa Net

June 19, 2025
Iconiq 777 Hosts Pathways to Apprenticeship Awards Ceremony in Newark

Iconiq 777 Hosts Pathways to Apprenticeship Awards Ceremony in Newark

June 17, 2025
Mexico’s President Sheinbaum Responds to Potential Remittance Tax with Call to “Mobilize”

Mexico’s President Sheinbaum Responds to Potential Remittance Tax with Call to “Mobilize”

June 17, 2025

LATESTBUSINESS

Valor Hospitality Partners announces two significant deals in West Africa,

Valor Hospitality Partners announces two significant deals in West Africa,

by Gela Megeneishvili
June 19, 2025
0

Markets will drop quickly if US enters Israel-Iran conflict: deVere CEO

Markets will drop quickly if US enters Israel-Iran conflict: deVere CEO

by Gela Megeneishvili
June 19, 2025
0

Matthew H. Fleeger Drives Strategic Growth at Gulf Coast Western Through Technology Integration

Matthew H. Fleeger Drives Strategic Growth at Gulf Coast Western Through Technology Integration

by Gela Megeneishvili
June 19, 2025
0

Iconiq 777 Hosts Pathways to Apprenticeship Awards Ceremony in Newark

Iconiq 777 Hosts Pathways to Apprenticeship Awards Ceremony in Newark

by Gela Megeneishvili
June 17, 2025
0

Tips for Remodeling on a Budget

Tips for Remodeling on a Budget

by Gela Megeneishvili
June 17, 2025
0

 ‘Why Did My Car Insurance Go Up for No Reason?’

Insurers boost private assets allocations as capital increases

by Gela Megeneishvili
June 17, 2025
0

Elite Lauches in Lebanon

U.S. Counts 1,873 Listed Billion-Dollar Companies, More Than the Next Eight Economies Combined

by Gela Megeneishvili
June 17, 2025
0

7 Digital Marketing Techniques for Business Owners in 2020

Lockton Surprasses $4 Billion in FY2025 revenue

by Gela Megeneishvili
June 16, 2025
0

GET IN TOUCH

Submit guest post/Letters to the Editor:

editor (at) finchannel.com

Sales & Marketing: (+995 558) 03 03 03 Email: marketing (at) finchannel.com

Whatsup: (+995 599) 96 52 52

Georgia:

(+995 599) 96 52 52 Email: editor (@) finchannel.com

Postal address: 17 Mtskheta str. Tbilisi, Georgia 0179 The FINANCIAL

RESOURCE

  • Work at the FINANCIAL
  • ePaper
  • Advertise in The FINANCIAL
  • Access ePaper
  • Guest posts
  • Contributed articles
  • AmericanStockNews
  • Coupon Codes
  • GLOSSY MAG
American Culture Center
ACC Partner

GUIDEBOOK

  • Meet our team
  • Invest in Georgia
  • Become contributor
  • Archive

FOLLOW US

  • Facebook
  • Twitter
  • Google+
  • Youtube
No Result
View All Result
  • Home
  • Business
    • BANKS
      • GeoBanks
    • Finance
    • Insurance
    • Markets
    • Pharmacy
    • Press Releases
    • RealEstate
    • RealEstate
    • Finance
    • Insurance
    • Banks
      • GeoBanks
    • Markets
    • Press Releases
    • Personal Finance
  • World
    • Americas
    • Europe
    • Georgia
      • Media
    • Ukraine
    • Europe
    • Georgia
      • Media
    • Ukraine
    • Americas
    • UK local news
  • Travel
    • Hotels in Georgia
    • Tours in Georgia
  • Videos
    • Promos
    • Soundslides
    • TheClinics
    • TheHoteliers
    • TheUniversities
    • TheHoteliers
    • TheClinics
    • TheUniversities
    • BestWorkplaces
    • Soundslides
    • Promos
    • Banking Forum
      • Promos
      • Soundslides
      • TheClinics
      • TheHoteliers
      • TheUniversities
  • Opinion
    • Editorial
      • Analysis
      • GORBI
      • OP-ED
      • VISA Editorial
    • Analysis
    • Gorbi
    • Book reviews
  • Tech
  • Interview
  • People
    • lifestyle
    • Health & Beauty
      • Coronavirus
    • LifeStyle
    • Employment
      • MyCareer
    • Education
    • Media
    • Celebrities
  • Oil&Auto
    • Auto
    • Energy
  • EN
    • EN
    • GE

© 2025 Intelligence Group llc

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.