The Central Bank of Lithuania is launching the LBChain initiative, a special platform through which start-ups can develop financial services and products, as well as conduct experiments on their implementation. Member of the board of the Central Bank Marius Jurgilas (Marius Jurgilas) says – “Blockchain has a huge potential for adapting innovations in the financial and public sectors. The development of this technology will create a favorable climate for investments, attracting the talents and accelerating the development of new technologies.” The launch of the LBChain platform will begin in 2019. The project will be financed by the European Union through special funds.
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