Varlam Ebanoidze, Head of the National Bank of Georgia's Financial and Supervisory Technology Development Department, participated in the third edition of "Fuckup Nights Batumi," an event held in Batumi.

Fail Stories is an international movement that showcases the stories of successful individuals with the goal of inspiring and motivating young people. This edition featured a panel discussion on how to support the fintech and startup ecosystem in Georgia.

During the event, Varlam Ebanoidze delivered a presentation where he highlighted the contrast between traditional and innovative approaches to regulation. He discussed the potential of fintech, the opportunities within Georgia's startup ecosystem, and the infrastructure that enables startups to implement various business models in the financial industry.

"New regulatory approaches incorporate behavioral science concepts at the intersection of fintech, allowing public policy goals to be achieved at a low cost, more efficiently and comprehensively," said Ebanoidze. "Startups will benefit from the infrastructure that the National Bank of Georgia is building in partnership with the Bankers’ Association, creating opportunities for numerous new business models in Georgia's financial industry."