Valery Vavilov: Georgia Is An Innovative Country

Valery Vavilov, the founder of Bitfury Group, who participates in the thematic panel dedicated to the investment opportunities of Tbilisi Silk Road, states that Georgia is an innovative country and that he supports development of bitcoin and blockchain technologies.

In his speech, Vavilov stated that for quite a while he has been working with the government of Georgia in the direction of development of innovative technologies:

“Georgia is the country, which supports development of new technologies, which is very important”, - says Valery Vavilov. He also emphasized the easiness of making business in Georgia and attractive investment environment.

“Before starting my business in Georgia, I’d heard a lot about reforms and making business in Georgia. And I know that there is no corruption in Georgia, the tax situation is very beneficial not only with regard to taxation but also in terms of the structure, which is very simple. It doesn’t take long to fill out different papers. Work force is also inexpensive and hardworking.

Georgia is one of the largest producers of green energy, which certainly means cheap electricity. All these parameters make Georgia very favorable and friendly for our business”, - stated the Bitfury Group founder.

Valery Vavilov also talked about Bitfury Group’s technologies and underlined its potential for future development.

“I think many people have already heard about the blockchain technology, but very few actually understands what the new technologies mean and how they can change the world. After creation of internet, various fields got digitalized. However, everything was still kept on paper, since internet was could not ensure safety of transactions. We necessarily need technologies that can allow for safe transactions using electronic means. And a good example for that is the blockchain technology. This system makes it impossible to delete or manipulate information and this is most important. Cybercrime threat is very strong in our world. We represent the company that creates a protected platform for any government, institution or organization,” –Vavilov said.

Valery vavilov is a founder and CEO of the world’s biggest blockchain company Bitfury. The Bitfury Group is the world’s leading full service company of the blockchain technology and one of the biggest private infrastructure provider I the blockchain ecosystem. The Butfury group develops and provides both hardware and software, necessary for safe movement of assets through blockchain network.

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