The Bank of Lithuania’s LBChain project – a unique blockchain-based sandbox – has reached the end of its third and final stage as five fintech companies from five different countries have completed the product testing phase.
On 26 May 2020, the Bank of Lithuania will hold a wrap-up session (to be broadcast online) to discuss the final project results: the developers will present their final LBChain platform versions, while the fintech companies will sum up their experience gained during the testing phase. The Bank of Lithuania will also announce its future plans for LBChain.
Time: 11:00 a.m. (UTC+3)
Language: English
PRESS RELEASE: LBChain – the cradle of future technologies unrestricted by geographical or sectoral boundaries
THE PROGRAMME
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11:00 |
KEYNOTE SPEECH – LBCHAIN: REACHING THE FINISH LINE AND WHAT’S NEXT? |
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11:10 |
PRESENTATIONS BY LBCHAIN PLATFORM DEVELOPERS |
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12:00 |
PRESENTATIONS BY TESTING PHASE PARTICIPANTS (PHASE III) |
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12:50 |
Q&A session and concluding remarks |
About the project
LBChain is a blockchain-based sandbox that combines regulatory and technological infrastructures, allowing fintech companies to test their business solutions in a controlled environment. The platform will offer Lithuanian and international startups as well as financial and fintech companies the possibility to gain new knowledge, carry out blockchain-oriented research, test and adapt blockchain-based services as well as offer state-of-the-art innovations to their clients.
LBChain is the world’s first blockchain-based platform developed by a financial market regulator (the Bank of Lithuania).
Based on Hyperledger Fabric and Corda, LBChain has already been used by fintechs from eight countries to test different products and solutions, including a KYC solution for AML compliance, cross-border payment solution, smart contract for factoring process management, payment tokens, mobile POS and payment card solution, crowdfunding platform, unlisted share trading platform, DLT-based regulatory reporting, banking solution and crypto-commodity.
