Did you know what Georgia produces most and what the share of its production worldwide is? Wine and copper seem the obvious answers – but these would be wrong. The answer is, in fact, cryptocurrency: 15% of all Bitcoins in the world are mined in Georgia, perhaps a disproportionate figure given the country’s small size.

In March 2018, Georgian power plants generated 997 mln. KWh of electricity (+35% compared to March 2017, and + 7% compared to February 2018). Nearly a quarter (24 %) of this electricity was produced by the Enguri and Vardnili hydropower plants, which produced 188 mln. kWh and 49 mln. kWh, respectively. Consumption of electricity on the local market was 1,116 mln. kWh (+9% compared to March 2017, and +5% compared to February 2018).

Blockchain technology became a huge story last year due to the hype over cryptocurrencies such as Bitcoin and Etherium. Banks and other financial institutions are rushing to adopt blockchain technology. Nowadays, about 15% of financial institutions use blockchain technology to secure and validate transactions. IBM was one of the first companies that saw the potential of blockchain use and encouraged startups related to the concept.

Once dubbed Georgia's Abu Ghraib, Gldani Prison #8 has gone through a substantial makeover since its darkest hours in September 2012. The entire staff was replaced or retrained during 2013, swiftly and effectively ending human rights violations. The following year, the prison won a prestigious award as Georgia’s best correctional facility. In 2015, about 180ha in the prison’s backyard became home to Bitfury, an international bitcoin industry pioneer.

For the first time in history, the price of Bitcoin broke its highest record (Figure 1) rising above 2,900 USD during the last week of June, 2017. One of the reasons why the market unexpectedly became optimistic about Bitcoin could be the fact that in April, the Japanese government formally accepted1 the cryptocurrency as a mean of exchange, which gave it more validity in Asia’s richest economy.