Lithuania’s trailblazing financial regulator will invite technologists to construct a central bank blockchain, letting budding innovators experiment with the technology by developing new overlay services.
The Bank of Lithuania, a self-described “super-regulator” that oversees the country’s entire banking and payments sector, announced this week that the project could be launched as early as next year.
The initiative, dubbed LBChain, remains in its early stages, but is envisaged as a testing ground for firms seeking to make use of the technology that underpins virtual currencies such as Bitcoin and Ethereum.
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