As the National Bank reported, the dialogue is a good opportunity for stakeholders to become aware of digital and technological finances, which also demonstrates the benefits of a digital GEL, such as faster, less expensive and more secure transactions for businesses and individuals.

The President of the National Bank of Georgia, Koba Gvenetadze, spoke at the CBDC & DeFi conference about the steps taken by the National Bank to develop a digital GEL..

"For the last two years, we have been conducting a comprehensive study on the central bank's digital currency concept and the growing range of decentralized finance. The financial system is already in the process of transformation, and the growth of decentralized finance is pushing us to further stages of evolution. In the modern era of finances, the National Bank needs to expand its supervisory policies and include new areas. This will ultimately ensure consumer protection, establish a balanced financial system, enhance competition, and create a healthy digital financial environment. Moreover, our goal is to further expand the CBDC. We are talking not only about the introduction of another method of payment, but also about the ambition to support the development of an ecosystem, where decentralized and centralized finances meet and coexist for the benefit of consumers of the Georgian financial system," - said Koba Gvenetadze. 

The international conference was attended by the Deputy Prime Minister/Minister of Economy and Sustainable Development of Georgia, Levan Davitashvili, the Mission Director of USAID/Georgia, Peter Wiebler, the USAID Economic Security Program Director, Mark McCord, the World Bank Regional Director for the South Caucasus, Sebastian Molineus, and representatives of international financial and donor organizations, commercial banks, fintech companies, business associations, and leading companies in the financial and information technology sectors.