Lithuania’s Central Bank Completes Blockchain Regulatory Research
The Bank of Lithuania (BoL) has finished the research phase of its blockchain-related project LBChain. In the next phase, the institution will create a sandbox that mixes technological and regulatory infrastructure for the technology.
LBChain allowed market participants to test their business solutions in a controlled environment by assessing the critical needs of fintech and startups. They then provided them with the ability to carry out blockchain-oriented research and adapt blockchain-based services into their businesses.
Andrious Adamonis, LBChain Project Manager at the Bank of Lithuania, commented:
“LBChain has proved to have enormous potential. It is the cradle of future technologies, offering the opportunity of creating state-of-the-art solutions. Having been already tested by financial market participants, the platform may also be applied in such fields as energy or healthcare.”
