• Home
  • Cryptocurrency
    • Bitcoin
    • Ethereum
    • XRP
    • Litecoin
    • Altcoin
    • Cardano
    • Tether
    • DOGE
    • Solano
    • XLM
    • DOT
    • XDC
    • SHIBA
    • BNB
    • Ape
    • HBAR
    • QNT
  • Blockchain
  • Regulation
  • Market
  • Live
    • Prices
    • ICO
  • Meta
    • NFT
  • Technical Analysis
    • XRP
    • BTC
    • XLM
    • ADA
    • TETHER
    • ETC
    • ETH
    • DOGE
    • LTC
  • Exchange
  • Mining
Monday, September 25, 2023
  • Login
  • Register
Coin24h.com
  • Home
  • Cryptocurrency
    • Bitcoin
    • Ethereum
    • XRP
    • Litecoin
    • Altcoin
    • Cardano
    • Tether
    • DOGE
    • Solano
    • XLM
    • DOT
    • XDC
    • SHIBA
    • BNB
    • Ape
    • HBAR
    • QNT
  • Blockchain
  • Regulation
  • Market
  • Live
    • Prices
    • ICO
  • Meta
    • NFT
  • Technical Analysis
    • XRP
    • BTC
    • XLM
    • ADA
    • TETHER
    • ETC
    • ETH
    • DOGE
    • LTC
  • Exchange
  • Mining
No Result
View All Result
  • Home
  • Cryptocurrency
    • Bitcoin
    • Ethereum
    • XRP
    • Litecoin
    • Altcoin
    • Cardano
    • Tether
    • DOGE
    • Solano
    • XLM
    • DOT
    • XDC
    • SHIBA
    • BNB
    • Ape
    • HBAR
    • QNT
  • Blockchain
  • Regulation
  • Market
  • Live
    • Prices
    • ICO
  • Meta
    • NFT
  • Technical Analysis
    • XRP
    • BTC
    • XLM
    • ADA
    • TETHER
    • ETC
    • ETH
    • DOGE
    • LTC
  • Exchange
  • Mining
No Result
View All Result
Coin24h.com
No Result
View All Result
Ledger Nano X - The secure hardware wallet
ADVERTISEMENT

Lithuania’s Central Bank to Fully Deploy its Blockchain Platform By Year-End

6 August 2020
in Blockchain
Reading Time: 2 mins read
A A
0
189
SHARES
1.5k
VIEWS
Share on FacebookShare on Twitter
cryptotrader
ADVERTISEMENT



The Bank of Lithuania announced that it had completed the research phase of its blockchain project called LBChain. The central bank now plans to deploy the platform by the end of 2020 and expand its use cases beyond the financial sector.

Bank of Lithuania to Expand its Blockchain Capabilities Beyond Financial Sector

Earlier this week, the central bank of Lithuania successfully completed its third and final stage of the LBChain project. During the three phases, the bank developed a unique sandbox that merged technological and regulatory infrastructures.

Now the bank is ready to develop the Lithuania Chain (LTChain). The latter is an upcoming blockchain platform to be used in the country’s energy, healthcare, and transport sectors. The bank will collaborate with other government agencies and attracts startups from the mentioned sectors.

LBChain project manager Andrius Adamonis explained:

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.

As per Adamonis, the next step is to advance to the production phase and make the blockchain solution available to consumers.

During its development stages, the platform was used by 11 fintech firms from eight countries. It was trialed in over a dozen financial products and services. The developers noted that most of the testing was done remotely.

The LBChain platform uses the infrastructure provided by Hyperledger Fabric and R3’s Corda. The solution was developed by IBM Polska and TietoEVRY. Professional services giant Deloitte also took part in the development and testing of LBChain.

The Bank of Lithuania says that LBChain is the world’s first blockchain platform developed by a financial market regulator. The bank has developed it in two years. The first stage focused on concept creation. The prototype was tested in the second phase, while the final stage was focused on the final development and testing.

LBChain platform: source: https://www.lb.lt/en/lbchain

Use Cases Included Bond Issuance and Regulatory Reporting

During the three stages of development and trial, sandbox participants used the platform for various use cases. A startup used LBChain for a regulatory reporting solution. Another firm leveraged the technology for issuing green bonds.

Related articles

Bitcoin Holding Above $26K Is ‘Remarkable’ as Equities Take a Hit. What’s Next for BTC’s Price?

Bitcoin Holding Above $26K Is ‘Remarkable’ as Equities Take a Hit. What’s Next for BTC’s Price?

22 September 2023
AI Should Be Decentralized, But How?

AI Should Be Decentralized, But How?

22 September 2023

Other examples of tested solutions involved KYC system for AML compliance, smart contract for factoring, cross-border payments, unlisted share trading platform, payment token, and crowdfunding platform, among others.

[crypto-donation-box]
Cryptohopper
ADVERTISEMENT

Adamonis said the project attracted foreign investment, encouraged cooperation with educational institutions and expanded the central bank’s technological capabilities with the help of blockchain.

In the future, the Bank of Lithuania intends to attract more startups from abroad to improve cooperation between the public and private sectors.



Source link

Tags: BankBlockchainCentralDeployFullyLithuaniasPlatformYearEnd
Share76Tweet47
Ledger Nano X - The secure hardware wallet
Previous Post

Russia’s Sberbank Launches Blockchain on Hyperledger, Mulls Stablecoin in 2021

Next Post

India Plans Bitcoin Ban Even as Its Banking System Gradually Collapses

Related Posts

Bitcoin Holding Above $26K Is ‘Remarkable’ as Equities Take a Hit. What’s Next for BTC’s Price?

Bitcoin Holding Above $26K Is ‘Remarkable’ as Equities Take a Hit. What’s Next for BTC’s Price?

22 September 2023
0

The 200-week and 200-day moving averages converge at $27,800, acting as an obstacle to further BTC price gains. Source link

AI Should Be Decentralized, But How?

AI Should Be Decentralized, But How?

22 September 2023
0

The case for greater transparency and verifiability in AI. But is decentralization the best way to achieve that and is...

CFTC Denies Kalshi’s Plan to Let Users Bet on Control of U.S. Congress

CFTC Denies Kalshi’s Plan to Let Users Bet on Control of U.S. Congress

22 September 2023
0

Regulators said the plans weren't in the public interest, after a court squabble involving rival service PredictIt Source link

First Mover Americas: Bitcoin Vapid; Toncoin Leads Weekly Gains

First Mover Americas: Bitcoin Vapid; Toncoin Leads Weekly Gains

22 September 2023
0

The latest price moves in bitcoin (BTC) and crypto markets in context for Sept. 22, 2023. First Mover is CoinDesk’s...

Sam Bankman-Fried Sort of Had a Rough Day

Sam Bankman-Fried Sort of Had a Rough Day

22 September 2023
0

Yesterday was arguably not a great day for Sam Bankman-Fried. First, the judge overseeing his case rejected all seven of...

Load More
Next Post

India Plans Bitcoin Ban Even as Its Banking System Gradually Collapses

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

We publish a comprehensive news feed covering all news relevant to the crypto user, covering main industry news, politics and regulation as well as consumer-level “news you can use” (practical stuff), including handy DIY tips, links to useful tools, unbiased reviews and opinions revolving around cryptocurrency. Simple logic and real-world examples are preferred before technical jargon and personal rants.

Categories

  • Altcoin
  • ApeCoin
  • Bitcoin
  • Blockchain
  • BNB
  • Cardano
  • Cryptocurrency
  • DOGE
  • DOT
  • Ethereum
  • HBAR
  • Litecoin
  • Market
  • Meta News
  • Mining
  • NFT
  • QNT
  • Regulation
  • SHIBA
  • Solano
  • Tether
  • Uncategorized
  • XDC
  • XLM
  • XRP

What’s New Here!

  • Bitcoin Holds $26K Fort, Ethereum, Dogecoin Head Lower As Sharp Sell-Off Hits Equity Markets: Analyst Looks To ‘Uptober’ For Relief Rally
  • Is XRP Getting Squeezed? Price Remains Anemic
  • Solana’s #1 NFT Market Surpasses NFT Projects Running on Ethereum 

Newsletter

  • About Us
  • Privacy Policy
  • Contact Us

© 2022 coin24h.com

No Result
View All Result
  • Home
  • Cryptocurrency
    • Bitcoin
    • Ethereum
    • XRP
    • Litecoin
    • Altcoin
    • Cardano
    • Tether
    • DOGE
    • Solano
    • XLM
    • DOT
    • XDC
    • SHIBA
    • BNB
    • Ape
    • HBAR
    • QNT
  • Blockchain
  • Regulation
  • Market
  • Live
    • Prices
    • ICO
  • Meta
    • NFT
  • Technical Analysis
    • XRP
    • BTC
    • XLM
    • ADA
    • TETHER
    • ETC
    • ETH
    • DOGE
    • LTC
  • Exchange
  • Mining

© 2020 coin24h.com

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
  • bitcoinBitcoin(BTC)$26,189.00-1.50%
  • ethereumEthereum(ETH)$1,578.93-0.92%
  • tetherTether(USDT)$1.00-0.11%
  • binancecoinBNB(BNB)$208.96-0.61%
  • rippleXRP(XRP)$0.50-1.08%
  • usd-coinUSDC(USDC)$1.00-0.07%
  • staked-etherLido Staked Ether(STETH)$1,580.25-0.85%
  • dogecoinDogecoin(DOGE)$0.060977-1.00%
  • cardanoCardano(ADA)$0.244378-0.39%
  • solanaSolana(SOL)$19.52-0.26%
  • ToncoinToncoin(TON)$2.21-3.45%
  • tronTRON(TRX)$0.0840940.41%
  • Wrapped stETHWrapped stETH(WSTETH)$1,864.880.36%
  • polkadotPolkadot(DOT)$4.00-0.51%
  • matic-networkPolygon(MATIC)$0.52-1.11%
  • litecoinLitecoin(LTC)$64.35-0.84%
  • shiba-inuShiba Inu(SHIB)$0.000007-0.50%
  • wrapped-bitcoinWrapped Bitcoin(WBTC)$26,190.00-1.62%
  • bitcoin-cashBitcoin Cash(BCH)$206.02-1.74%
  • chainlinkChainlink(LINK)$7.180.05%
  • daiDai(DAI)$1.00-0.02%
  • true-usdTrueUSD(TUSD)$1.00-0.05%
  • leo-tokenLEO Token(LEO)$3.74-2.48%
  • uniswapUniswap(UNI)$4.24-1.01%
  • stellarStellar(XLM)$0.113002-0.38%
  • avalanche-2Avalanche(AVAX)$8.80-1.44%
  • moneroMonero(XMR)$144.050.81%
  • okbOKB(OKB)$42.70-0.21%
  • binance-usdBinance USD(BUSD)$1.00-0.02%
  • ethereum-classicEthereum Classic(ETC)$15.17-0.83%
  • cosmosCosmos Hub(ATOM)$6.99-1.19%
  • hedera-hashgraphHedera(HBAR)$0.050037-1.89%
  • filecoinFilecoin(FIL)$3.22-0.66%
  • GGTKNGGTKN(GGTKN)$0.1121180.75%
  • crypto-com-chainCronos(CRO)$0.050530-1.39%
  • lido-daoLido DAO(LDO)$1.48-1.06%
  • internet-computerInternet Computer(ICP)$2.94-0.53%
  • quant-networkQuant(QNT)$88.70-2.25%
  • MantleMantle(MNT)$0.3969511.13%
  • AptosAptos(APT)$5.405.25%
  • vechainVeChain(VET)$0.016667-1.30%
  • makerMaker(MKR)$1,279.83-0.92%
  • nearNEAR Protocol(NEAR)$1.110.05%
  • ArbitrumArbitrum(ARB)$0.81-0.46%
  • optimismOptimism(OP)$1.27-1.25%
  • KaspaKaspa(KAS)$0.0482635.72%
  • EdgecoinEdgecoin(EDGT)$1.00-0.03%
  • Rocket Pool ETHRocket Pool ETH(RETH)$1,714.34-0.95%
  • BSCEXBSCEX(BSCX)$237.190.34%
  • aaveAave(AAVE)$62.07-1.39%