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Bank of Lithuania: communication and blockchain platform

A platform and a service for fintech start-ups to get regulatory and technical consultations to accelerate their solutions on blockchain

TietoEvry Lithuania

Lvovo g. 105A, Vilnius 08104, Lithuania

Challenge

Objective of the project was to establish a platform and a service for fintech start-ups to get regulatory and technical consultations to accelerate their solutions on blockchain.
 

TietoEvry Lithuania team have delivered

  • LBChain service – a customer journey and scope of service of the Bank of Lithuania when selecting and accelerating fintech start-ups developing and testing financial solutions on blockchain,
  • Corda blockchain platform on Azure cloud – scalable to a number of participants onboarded by the Bank of Lithuania,
  • Delivered service and platform tested with selected participants that delivered their solutions on the platform, including trade of non-listed shares, payments on blockchain, credit default swaps through smart contracts, reporting regtech solution, climate finance investment platform.

Key take-aways

  • R3 Corda competence – deploying and operating Corda platform on Azure, CordApp development,
  • Management console for participants onboarding, collaboration and project status tracking; delivered as SaaS; IPR remains with TietoEvry,
  • Service design competence demonstrated through collection of requirements through workshops with participants, through customer journey mapping and user testing.

Award

LBChain has won the national round of “World Summit Awards” (WSA) in the category “Government and citizen engagement”.

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