The initiative, announced a few days ago, and code-named LBChain, will allow fintech startups to launch and test their services in a so-called "sandbox", meaning they will have access to information concerning regulations and probably they could even dry-test some use cases before launching at "full strength".
According to the news cited above:
The Bank of Lithuania would provide LBChain participants a technical platform and consultations on applicable regulations.
There seems to be some money in this bucket too, as the platform will be funded with European Funds. If you plan to start a fintech in Lithuania right now, to take advantage of this, you should probably wait a little bit, as the project is set to be implemented in 2019, at earliest.
This is not my usual news, lately, and I would have probably let this fly under the radar, but I remembered that Spectrocoin / Bankera is a Lithuanian startup (a thing that probably very few people know).
Combining this news with the plans of Bankera, namely to build a "crypto bank", I can picture a clear landscape of what's coming in the next 1-2 years from this direction.
And I like what I see :)
I'm a serial entrepreneur, blogger and ultrarunner. You can find me mainly on my blog at Dragos Roua where I write about productivity, business, relationships and running. Here on Steemit you may stay updated by following me @dragosroua.
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