Tetherย (USDT), the issuer of the cryptoย stablecoin USDT, joins with a Georgian University to educate young minds about blockchainย tech and digitalย currency. The notice contains fine-sounding language about spreading financial knowledge and training students in the use of technologies that encourage freedom. Onย theย otherย hand, will people buy it?
Tetherย (USDT) (USDT) has partnered with Business & Technology University (BTU) to encourage blockchainย tech and digitalย currency education in the nation of Georgia. The issuer revealed its memorandum of understanding (MoU) with BTU in an notice on its website on Wednesday.
Together, the issuer and the Georgian university will strive to expand education about digital trading and investing. A new program at the Tbilisi-based school will run for a 30ย days, and its aim is to โequip students with the necessary knowledge and expertise to thrive in the emerging digital economy,โ as per the announcement.
Tetherย (USDT) toย Assist Educate
Cryptocurrency assets are high up on the list of subjects that the new program will cover. Tetherย (USDT) willย help in developing educational courses covering cryptoย stablecoins, Bitcoinย (BTC), and digitalย currencies. The syllabus will likewise include education on other technologies that encourage โfinancial freedom and freedom of speech.โ Nonetheless, the notice does not state exactly what this canย potentially mean.
The program will run in partnership with the Academy of Digital Industry and Terminal, featuring lectures by local and international blockchainย tech specialists. Most of the classes will be given in Georgian.ย
Toย beย clear, no one questions the value of education and greater financial sophistication. The region could probably do with more blockchainย tech education, as Georgia is middling inย theย caseย of grassroots digitalย currency adoption.
Compared to other countries, Georgia has a ways to go in embracing digitalย currency. Georgia sits in 37th place, reportsย by Chainalysisโs Worldwide Digitalย currency Adoption Index. It is beaten by its neighbors Turkey and Russia, which are 12th and 9th, respectively.
Tetherย (USDT) Teaching Freedom?
Freedom is a particularly topical subject in Georgia, which is asย ofย now experiencing a regression of democratic norms and liberties. Inย theย year, Freedom House designated the country a โhybrid or transitional regime,โ giving it a Democracy Score of only 3.04/7. The nation hasย evolved less democratic since aย yearย ago, reportsย by the organization.
Reportsย by the organizationโs 2023 report, Georgiaโs Independent Media rating declined from 3.50 to 3.25 due to:
โA multiyear tendency of worsening harassment and violence against journalistsโฆ likewise as an increasingly polarized and politicized media environment that has undermined editorial independence.โ
Aย yearย ago, the director of a Television station critical of the Georgian Government, Nika Gvaramia, was jailed for 3 years and 6 months. Gvaramia denies all charges as politically motivated.
Is Tetherย (USDT) Safe?
The emphasis on education may sound progressive and noble. Onย theย otherย hand, Tetherย (USDT) has been on the receiving end of criticism over its lack of transparency. Toย putย itย anotherย way, for allegedly failing to be next enough about its finances.
A previous SEC official criticizes the company for not conducting aย suitable audit. A number of cryptocurrency corporations have collapsed in the past year. And John Reed Stark, previous chief of the SECโs Office of Internet Enforcement, has voiced concerns that Tetherย (USDT) mayย be theย following โdomino to fall.โย
Regardlessย of promising an audit for almost 6 years, Tetherย (USDT) has failed to follow through on this commitment. Stuart Hoegner, Tetherโsย (USDT) General Counsel, assured a full audit would occur within โmonths, not yearsโ back in July 2021, but the company has isย still to fulfill this promise.
The cryptoย stablecoin issuer made cautious moves amid the banking crisis earlier inย theย year. In the 1st quarter, Tetherย (USDT) reduced its reliance on banks by withdrawing over $4.8 Billion in deposits. Reportsย by a May 15 statement, it now has $481 Million in bank deposits, down from $5.3 Billion at the start of the year.
BeInCrypto has reached out to Tetherย (USDT) for comment on issues raised in this story. A response was not next as of press time.
