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Cryptocurrencies

Lithuania to become a gateway to Europe's single market for global blockchain industry

Tuesday 22 January 2019 | 10:30 AM CET

Lithuania has been 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.

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 Blockchain Centre Vilnius (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, according to the official press release. 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.

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.

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