Cardano (ADA) IOHK signs an MoU with country government of Georgia

IOHK, the organization that overlooks the development of Cardano cryptocurrency has entered into a partnership agreement with the government of the country of Georgia. Through the signing of a memorandum of understanding (MoU), IOHK will work closely with Georgia to develop blockchain technology for the several ministries in the country. A tweet by the Cardano Foundation reads:

“IOHK and government of the country of Georgia announce a blockchain technology partnership with the signing of a MoU today. Together, they will explore blockchain-enabled solutions for the Ministry of Education and Science using Atala and Cardano.”

The community of Cardano and IOHK expressed their excitement for the partnership. However, some asked how it benefited Cardano (ADA) as an asset. Above all, this a great for both IOHK and Cardano as well as the entire blockchain industry as it takes cryptos close to government adoption.

In the meantime, Cardano is trading at $0.093 with the upside limited at $0.0940. The widespread gains over the weekend went by unnoticed by Cardano which has been stuck in a range between $0.0900 and $0.0940 since Thursday. A break above the trendline resistance and $0.0940 hurdle is likely to encourage the bulls to increase their entries and pull ADA to the recent highs around $0.0970. On the flipside, retrace from the current value would find support at the rising trendline, $0.0900, $0.0860, $0.0820, and $0.0780.

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ADA/USD 1-h chart