We are thrilled to announce another great partnership in Lithuania. The Proof of Trust is committed to providing world-class technology solutions around the globe.
Lithuania is one of Europe’s most successful growth stories, with GDP rising at an average of 3.57% over the last decade. Technology has been at the core of this boom, with the number of FinTech’s in the country growing by 24% in 2019. As of July 2020, Lithuania had issued 62 Electronic Money Institution Licenses, by far the most of any EU member, and 35 full Payment Institution Licenses, second only to Germany.
The Proof of Trust will be utilised for assurance across Lithuania’s electricity market at both domestic and EU level transactions. Due to the significant demand for innovative, trustworthy, and more transparent applications, The Proof of Trust will add rigour in this regulated sector.
By deploying The Proof of Trust’s technology product Nebula, Lithuania and its businesses can achieve full assurance of contractual disputes across every transaction. This will enable strong business continuity within the market and fuel greater efficiency in the sector.
Andrius Bartminas, CEO, Super How said: “We’re proud to have the opportunity to partner with The Proof of Trust to deliver such an advanced, platform agnostic protocol to enterprises and governmental institutions alike, streamlining risk mitigation processes and enabling better decision making. In doing so, we can improve the efficiency of operations for businesses across Lithuania, transforming the way services are delivered in both the public and private sectors, through state-of-the-art technology.”
Find out more about this exciting partnership on the LSE website: https://www.londonstockexchange.com/news-article/market-news/mou-with-lithuania/14859755