The initiative, announced a few days ago, and code-named LBChain, will allow fintech startups to launch and test their services in a so-called "sandbox", meaning they will have access to information concerning regulations and probably they could even dry-test some use cases before launching at "full strength".
According to the news cited above:
The Bank of Lithuania would provide LBChain participants a technical platform and consultations on applicable regulations.
There seems to be some money in this bucket too, as the platform will be funded with European Funds. If you plan to start a fintech in Lithuania right now, to take advantage of this, you should probably wait a little bit, as the project is set to be implemented in 2019, at earliest.
This is not my usual news, lately, and I would have probably let this fly under the radar, but I remembered that Spectrocoin / Bankera is a Lithuanian startup (a thing that probably very few people know).
Combining this news with the plans of Bankera, namely to build a "crypto bank", I can picture a clear landscape of what's coming in the next 1-2 years from this direction.
And I like what I see :)
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Highly anticipated. Actually, Bankera is going to be big.
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Interesting new... Not sure if it is good but...
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Really interesting. Reminds me of what Singapore is doing with their blockchain investments, including starting their own incubator culture. Looks like there's increasingly a bit of an arms' race to get entrepreneurs to invest in certain countries. Should be really interesting to see how this plays out
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I've been hearing about Lithuania a lot lately.
Sola is based there...for example.
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I'm from Lithuania, but i haven't heard any of this stuff before, i guess our news media is keeping it quiet. Thanks for sharing.
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Thanks for the update. So much is going on in these little new countries like Lithuania, Estonia.
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Haha I'm from Lithuania and I haven't heard about it! Looking forward to seeing how it will turn out for this project. I've been using SpectroCoin and I love it.
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This is big time news!! 2019 isn’t far away at all! A crypto bank will be here before you know it! Thanks for sharing this!
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most banks are begining to see the future is blockchain and are investing in it, Lithuania is leading the way, cant wait for crypto coin bank and if this happen it will shake up the banking world , the ones that adapt early are the ones that will thrive
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Thanks for the information
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thanks for informative post
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Totally not related to this but... Am I seeing it right?
I do a lot of comments and it just won't show. Is it just me?
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Looks like it was just me. I tried refreshing about three more times and then it showed. 😊
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