Licensing Agreement with POT
We are proud to announce the expansion of our MoU in Georgia into a full Licensing Agreement (“Agreement”) that will see our globally patented smart contract validation and automated dispute resolution platform rolled out across Eastern Europe and Western Asia. This is the third licensing agreement signed by The Proof of Trust this year, demonstrating the huge demand behind its rapid international expansion.
“Giorgi Goguadze from Wiztech” The Proof of Trust’s in-country partner, said: “Having worked closely with The Proof of Trust team over the past month to determine novel and innovative use cases for its unique and groundbreaking protocol, we were struck by its transformational applications across a broad range of industries. That is why we are extremely proud to have been selected as the licensing partner to lead the roll out of the protocol in Georgia.”
As Georgia continues its trajectory toward a post-Covid world, novel technologies that can accelerate its recovery are increasingly in demand, especially those that can meet the growing needs of its expanding digital economy. To meet this unprecedented demand, The Proof of Trust’s protocol is being tested across Georgia’s key industries, including the mining and energy sectors.
Sakhib Waseem, Chief Innovation Officer at The Proof of Trust, said: “Georgia has a demonstrated hunger for innovative, technology-based solutions to support its post-Covid recovery. We are already actively testing applications of our globally patented protocol that will drive growth in Georgia’s largest sectors as well as create efficiencies and transparency for its government and governmental organisations.
“By entering into a Licensing Agreement within the country, we are enabling the roll-out of these novel applications in Georgia and the wider region. We are excited to continue this work and look forward to driving adoption of our innovative, unique protocol alongside our in-country partner.”
With its growing network of partners in tech hubs around the world, The Proof of Trust is building a product suite that will be instrumental in the global post-covid economic recovery and subsequent boom.