This week dozens of global blockchain movers and shakers gather at Blockchain Centre Vilnius (BCV) in Lithuania to catch up on the latest developments in the blockchain industry. Lithuania is consolidating its position as an attractive gateway to European single market for global blockchain and fintech players. A number of blockchain companies from the United Kingdom, Switzerland, Singapore, South Korea, Japan, Australia, the United States, Canada, and other countries partnered or set up their businesses in the capital Vilnius just over one year.
“We recognize that emerging technologies are the future of competitive economies. As businesses are speeding up developing solutions for it, we – the regulators – have to ensure balanced enabling legislative environment to help to tackle rapidly changing business challenges. Lithuania’s uniqueness in tech regulation is a friendly and stable legislative environment. Just in one year, we have upgraded the legislative environment that gave us a competitive advantage in attracting numerous global companies to Lithuania. The resounding success of Blockchain Centre Vilnius proves that the country is moving in the right direction as we have united all tech stakeholders’ efforts in promoting Lithuania as one of the most innovative countries in the world”, emphasized Lithuania’s Minister of Finance Vilius Šapoka, who will make a keynote speech at the anniversary event of BCV.
High-level experts from the World Trade Organisation (WTO), European Commission (EC), European Parliament (EP), ConsenSys and other global blockchain industry organizations and companies will gather at an anniversary annual conference of BCV. The conference will review the latest global and Lithuanian blockchain industry’s achievements and regulatory framework in the emerging technologies – Blockchain and Artificial Intelligence.
Lithuania has outperformed nations 20 times its size in the token economy, making it Europe’s fifth largest country for crowdfunding. It was announced that this Baltic country was only second to the UK in terms of attracting fintech startups in the European Union (EU) in 2018.
“We are taking calculated risks but we are winning. Following the positive direction by the EU institutions encouraging exploring emerging technologies, our institutions and investment community has been actively developing this industry. Here, in Lithuania, we are pulling out the stops to bring the world’s top blockchain talent, ideas, investors, and regulators together to create value for both private and public sectors”, added Member of the European Parliament, Founder of Blockchain Centre Vilnius Mr. Antanas Guoga.
The global network of Blockchain Centres includes Melbourne, Shanghai, and Vilnius. It is the first facility of its kind on the continent. The Centre has built a reputation in Brussels and in the corridors of the EU power in the whole as a centre of excellence of blockchain. The EC has asked BCV to be among a founding partner of an International Association for Trusted Blockchain Applications.
“When we opened a year ago we have had an ambition to raise a flag of Vilnius as a European capital of blockchain and send the message to the world that Lithuania is a country where innovative technologies are more than welcome. Today, Blockchain Centre Vilnius is among those who are taking part in shaping a European blockchain future” concluded CEO of the Centre Egl? Nemeikštyt?.
The Centre’s anniversary annual conference, which will be broadcasted live,will feature the WTO senior analyst on blockchain E. Ganne; former Estonian Prime Minister T. Rõivas; high level representatives from the EC and the EP, Lithuania’s Government, Lithuanian Central Bank; Mayor of the capital Vilnius R.Šimašius; leaders of global companies such as ConsenSys, QPQ, Pillar Project, ODEM, Debitum Network and others.
The broadcast of the anniversary conference of BCV will start at 3 pm Vilnius time / 1 pm London time / 8 am NYC time / 9 pm Shanghai time/midnight Melbourne time.
BCV is a not-for-profit knowledge hub offering enterprise blockchain training, ensuring global tech companies talent sourcing and recruiting. The Centre organises commercial missions, offers start-up incubation and acceleration, and provides blockchain strategy and legal consulting.
The Blockchain and fintech environment in Lithuania:
Lithuania managed to drastically improve its innovative and technologies environment regulation and many companies have chosen to invest here. It was announced that Lithuania was only second to the UK in terms of attracting fintech startups in the EU in 2018. Lithuania ensures fastest pan-European Fintech licence in the EU E-money or payments licence in just 3 months. It offers an environment for testing innovative solutions with a no sanctions commitment from the regulator. LBChain – a blockchain sandbox for developing your blockchain-based solutions – is speeding up. ICO Watchlist places Lithuania fifth for European crowdfunding, based on the number of projects to have launched within its borders. Lithuania’s regulators look favourably on the emerging technology and are open to giving progressive tech companies direct access to the Single Euro Payments Area (SEPA) system. In 2018 in the meeting of heads of Governments of China and the Central and Eastern European countries 16+1 last year, it was agreed to establish the “16+1” center for the coordination of financial technologies in Lithuania.