Lithuania debuts as EU gateway for global blockchain industry

EPA-EFE/Valda Kalnina

Bitcoin ATM machine at Gedimino prospektas 9 in Vilnius, Lithuania 06 December2017.

Lithuania debuts as EU gateway for global blockchain industry


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The Lithuanian capital Vilnius launched Europe’s first international Blockchain Centre on January 27, making it the EU’s only hub for the digital ledger.

The new hub will help Europe connect with partner Blockchain Centres in Australia, China, Canada, the UK, Belgium, Denmark, Georgia, Gibraltar, Ukraine, Israel, and Latvia.

During the launch, several high-level debates on blockchain’s future took place with representatives from several institutions as well as MEP Virginijus Sinkevičius and Antanas Guoga, the founder of Blockchain Vilnius

The attendees discussed topics that included ways to establish trust between Europeans and their traditional institutions and other “breakthroughs: outside of cryptocurrencies that require the close attention from regulators.

One of the main topics of discussion also centred on solutions for security problems and the steps that can be taken to make blockchain a mainstream technology and affordable for business.

With Sinkevičius on hand, Blockchain Centre Vilnius also signed a number of cooperations with PricewaterhouseCoopers, British 20|30 & Pillar Project, Singapore based NEM.io Foundation, Canadian GCAC, Malaysian PUNDI X LABS, and Australian Coinstop and Lithuanian Lympo.io.

“Experts from the world´s Intellectual centres predict diverse scenarios in cryptocurrency development,  but Blockchain is not just about cryptocurrency. Blockchain technology is already being adopted by many businesses and public administration sectors. The potential is enormous…Lithuania must become an important link in the global blockchain industry,” Sinkevičius said during the signing ceremony.

Four years after the first Blockchain Centre was set up in Melbourne, Martin Davidson – the Global Director and CEO of Blockchain Centre Melbourne – said Lithuania was a natural fit to its growing international network as it is the latest region in the world to be warming up to the concept and application of blockchain technology.

According to Davidson, Vilnius was selected by the Australian and Asian blockchain communities as “the network’s first location in Europe due to its political and economic stability, relationship with the European Union, as well as a favourable business and regulatory environment.”

Blockchain Centre Vilnius incubates and accelerates blockchain and cryptocurrency start-ups while providing a platform to build a trusted network within the public and private sectors.

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