The finance ministries of the Baltic states have expressed their support to the development of Blockchain or distributed ledger technologies (DLT). The aim is to help in the advancement of capital market innovations.
In their recent Memorandum of Understanding (MOU), the ministries for Estonia, Latvia and Lithuania have announced their cooperation on several actions aimed at expanding and developing their economies. The actions include the promotion of DLT to foster innovations in the capital markets.
Part of the MOU reads:
“The Estonian Ministry, the Latvian Ministry and the Lithuanian Ministry recognize the importance of the development of the capital market and a stronger institutional framework to handle the cross-border challenges in the Baltic States. … [And] supporting the development of capital market innovations and new technologies with a consideration for regional Fintech solutions, e.g. distributed ledger technology.”