Bank of Lithuania Envisions Future Cross-Industry Blockchain Platform

• The Bank of Lithuania has revealed ambitious long-term plans to develop its blockchain platform for use beyond the financial services sector.

• On May 26, the central bank's blockchain-based sandbox, LBChain project, completed its third and final stage.

• In fall 2019, the bank chose IBM and Tieto to proceed as finalists vying to develop the LBChain platform itself.

• Their projects include a solution for blockchain-based regulatory reporting, a blockchain platform for green bond issuance, and a blockchain-based digital bank.

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