Bank of Lithuania
2019-01-30
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The Bank of Lithuania invites FinTech companies to participate in the LBChain project where, together with leading blockchain experts, they will develop or test their blockchain-based innovations. The project will be presented on 6 February at Switching gears with LBChain hosted at the Blockchain Centre Vilnius.

LBChain is the world’s first blockchain-based sandbox developed by a financial market regulator that combines technological and regulatory infrastructures. The platform will enable Lithuanian and international start-ups as well as financial and FinTech companies to gain new knowledge, carry out blockchain-oriented research, test and adapt blockchain-based services and offer state-of-the-art innovations to their customers.

To create this platform, the Bank of Lithuania invoked service providers selected through a pre-commercial procurement. Out of nine companies that expressed their interest, the Bank of Lithuania selected four: UAB Deloitte verslo konsultacijos, IBM Polska Sp. z.o.o., UAB Tieto Lietuva and UAB INNTEC. During the first stage, the service providers identified the market needs and submitted their LBChain concepts. On 6 February, during Switching gears with LBChain, the Bank of Lithuania will announce the names of the companies to proceed to the second stage of the pre-commercial procurement.

During the second stage, three service providers will join forces with FinTech companies to create the LBChain platform. Together with the Bank of Lithuania, they will also consult FinTech companies developing a specific blockchain-based product. The companies will then be able to test this product within the LBChain environment.

FinTech companies can apply for participation in the LBChain project on 7-15 February. The Bank of Lithuania will select at least 3 companies; the selection criteria will be presented at the event.

Registration to Switching gears with LBChain

For more information, contact us at [email protected].

The project “LBChain platform-service development” is funded by the Bank of Lithuania, the state budget and the European Regional Development Fund.