Lithuanian Central Bank is looking for blockchain developers

The Lithuanian Central Bank announced on Friday that it is looking for blockchain developers to start work on the initiative, which was called LBChain. This platform is a kind of test platform for startups who want to try out this technology.

The lbchain project is intended to help both Lithuanian and international companies, its goal is education in the field of blockchain technologies, as well as research in this area.

This initiative is funded by the EU. Marius Jurgilas, member of the Board of the Bank of Lithuania, commented on this initiative:

The developers have already shown considerable interest in LBChain. Created by the financial regulator, it is one of the first of its kind, offering a unique business opportunity to test and implement the latest innovations in the field of FINTECH in order to benefit both customers and the financial system as a whole.

This project is part of a broader attempt to create a “regulatory-friendly ecosystem in the financial sector”.

Despite the fact that in January the Central Bank announced that the platform will begin its work in 2019, it is now clear that the project is likely to start this summer.

The Central Bank of Lithuania for the first time started working with blockchain technologies in autumn 2017, when it issued a guide to the ICO.