Lithuanian Central Bank Tests Blockchain Sandbox for Non-Financial Sector

As per the report by Europe World News, the BoL unveiled that it has successfully completed the blockchain-powered sandbox ‘LBChain’ initiative. The LBChain initiative cartels the design of disruptive distributed ledger tech (DLT)-powered solutions with supporting their use cases in the finance and banking industry and increasing the quality of regulatory prerequisites and alluring massive joint ventures and FDI (foreign direct investment).

DLT project manager (PM) at BoL Andrius Adamonis revealed that this sandbox boosted the bank’s blockchain technology capabilities and successfully fascinated foreign capital and built academic cooperation through this sandbox. The BoL wants to complete the procurement work with fintech firms taking part in the sandbox and roll out the LBChain within the fourth quarter (Q4) of this year.

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