The memorandum was signed between ESCO and GREDA with the support of USAID

On July 19, with the support of USAID’s Governing for Growth in Georgia (G4G), the Electricity System Commercial Operator (ESCO) and the Georgian Renewable Energy Association (GREDA) signed a Memorandum of Understanding on using Blockchain technologies in the energy sector and, to this end, studying the potential of these technologies.

In the framework of the Memorandum, the parties seek to promote the development of the energy sector, increase its competitiveness and integration into global systems by introducing new (“Blockchain”) information technologies in Georgia.

Under the agreement, the Parties will also provide research on the potential of Blockchain technologies in the field of energy and solutions based on it within the country and the region, and to this end they will develop and test Blockchain technologies based on modern approaches and international experience.

Taking into account the results of the research, it is planned to launch pilot projects using Blockchain technologies, as well as to raise the awareness of the energy sector participants.