LBChain is blockchain based platform-service. It combines regulatory and technological infrastructures
The Project is aimed at serving the key needs of fintechs and start-ups and provides them with the possibility to gain new knowledge, carry out blockchain-oriented research, test and adapt blockchain-based services as well as for Bank of Lithuania improve quality of financial market regulation
The project is implemented under the instrument Ikiprekybiniai pirkimai LT
Project budget: 896.006,00 EUR
EU funding: 761.855,00 EUR
Funded by the European Regional Development Fund
Project duration: 16 March 2018 - 31 October 2020
Contact person: Project manager Andrius Adamonis tl.bl@niahcbl
The second phase results ranked according to technical criteria:
| No. | Company name |
| 1 | IBM Polska Sp. z.o.o. |
| 2 | UAB Tieto Lietuva |
| 3 | UAB Deloitte verslo konsultacijos |
The second phase of LBChain started on 1 March 2019.
Registration for FinTech companies ended on 15 February 2019. 22 FinTech companies expressed their interest and intent to participate in the second phase of LBChain. 6 FinTech companies will be selected.
The Bank of Lithuania invites FinTech companies of different maturity to participate in the co-creation of the LBChain technology sandbox. We invite companies to express their interest and intent to participate by filling out a registration form.
The first phase results ranked according to technical criteria:
| No. | Company name |
| 1 | UAB Tieto Lietuva |
| 2 | UAB Deloitte verslo konsultacijos |
| 3 | IBM Polska Sp. z.o.o. |
| 4 | UAB INNTEC |
The first stage was completed on 28 December 2018. The concepts submitted by the participants are currently under assessment. Three companies with the best concepts will enter the second stage.
On 27 August 2018, agreements were signed with four companies whose proposals were ranked best – UAB Deloitte verslo konsultacijos, IBM Polska Sp. z.o.o., UAB Tieto Lietuva and UAB INNTEC; they started creating concepts for LBChain platform-service.
9 companies sent their proposals to LBChain pre-commercial procurement: Avascloud SL, BELRICSBT SDN BHD, Blockchain Technologies Sp. z.o.o, UAB Deloitte verslo konsultacijos, IBM Polska Sp. z.o.o., UAB INNTEC, MakoLab S.A., UAB Sistemų integracijos sprendimai, and UAB Tieto Lietuva.
The proposals were ranked according to administrative and technical criteria:
| No. | Company name |
| 1 | UAB Deloitte verslo konsultacijos |
| 2 | IBM Polska Sp. z.o.o. |
| 3 | UAB Tieto Lietuva |
| 4 | UAB INNTEC |
| 5 | MakoLab S.A. |
| 6 | UAB Sistemų integracijos sprendimai |
Submission of applications ended on 14 May 2018.
On 3 May 2018 amendments were made to the Pre-Commercial Procurement conditions in the preamble of Chapter VI ‘Requirements for tenderers‘.
FAQ (104.8 KB download icon)
Through pre-commercial procurement, we seek to foster innovation in the financial market and accelerate its adaptation in the public sector.
The aim of the Bank of Lithuania’s pre-commercial procurement is to develop the LBChain platform-service oriented towards attracting FinTech businesses and foreign direct investment, creating innovative blockchain-based solutions and supporting their application in the financial sector as well as improving the quality of regulatory requirements.
LBChain is a blockchain-based platform combining technological and regulatory infrastructures
- Terms and conditions for pre-commercial procurement (841.1 KB download icon)
- Information on pre-commercial procurement
For more information on LBChain pre-commercial procurement, contact us at tl.bl@niahcbl.