“Lithuania doesn’t have a track record of world-famous tech startups, and we didn’t have access to large VC funds. ICOs and crypto communities remove boundaries so that no matter where you are located, only the team, technology and idea matters.” – Vladas Jurkevičius, CEO of Lithuanian digital identity startup Safein.
One of the greatest things about cryptocurrency is that it gives nations a chance to compete on an even keel. It doesn’t matter what your GDP is, or how many nukes are locked in your bunker: on the internet, everyone’s equal. This has given countries that have traditionally lagged industrially and economically a chance to make amends. From tiny islands to humble nation states, a series of global outposts have made it known that they’re open for crypto business. This makes cryptocurrency a Great Leveler.
Lithuania has seized this opportunity by creating a favourable regulatory eco-system around crypto currencies along with a solid infrastructure of fast internet. Lithuania is excelling in issuing new digital currencies, or “Initial Coin Offerings” (ICOs) – over the past year, they have raised half a billion euros from ICOs and blockchain-based businesses. The influx of real cash for digital units has helped Lithuania’s economy to grow by 3.1% this year compared to the average 2.3% for the rest of the EU.
Read more at express.co.uk
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