Estonian bank LHV has announced a new project that will explore the use of legal frameworks and bitcoin blockchain technology, so the project can develop banking services based on Bitcoin and other digital currencies.
LHV’s Priit Rum told Coindesk, “We are interested in digital currency technology because we want to make banking services easier and more efficient.”The project manager will study the digital currency, which is not limited to Bitcoin itself especially when you don’t know who accepts bitcoin.
Rum said that at present, the bank will not intervene in bitcoin transactions, but it is more likely that blockchain technology will be used to develop their payment systems.
The company claims that they are the world’s third bank to implement such a program.
Supervision is not certain
Although the move by the major banks in the country may be an inspiration to the Bitcoin community, the regulation of the bitcoin in Estonia remains uncertain.
Earlier this year, the country’s central bank issued a warning to Bitcoin and other digital currencies that it was a Ponzi scheme and said that “virtual currency solutions are innovations that need to be treated with caution” But they will also continue to monitor the development of virtual currency.
After that, under the pressure of the authorities, the local bitcoin dealer website BTC.ee stopped trading and the authorities determined that the website involved money laundering and terrorist financing.
Local enthusiasm is growing
Bitcoin has been popular in Estonia for some time, although the country’s bitcoin ecosystem faces this regulatory difficulty.
The country’s capital, Talin, has hosted a successful Bitcoin exhibition in the market last month. At the exhibition, Bitcoin fans gathered to raise knowledge and promote knowledge for newcomers to the digital currency. Everyone’s acceptance.
Inside Bitcoins was held in Hong Kong today and tomorrow, and invited important figures from the industry to participate in speeches and symposiums. There were also many booth booths at Bitcoin in the conference. We went to the conference and reported to you:
At the Marriott Hotel in the airport, there are many people from all over the world.
Bobby Lee, CEO of BTC China, was in charge of the opening speech with the theme “Bitcoin in China”
He stressed that China did not ban Bitcoin, just suppress it…
Symposium – Current status and future of Bitcoin in China
Symposium – Bitcoin vs Altcoins
Butterfly Labs presents the hardware Bitcoin wallet
Spondoolies Tech SP30 Yukon is the world’s most advanced mining machine, one sold out
Many hardware companies have exhibited their mining machines
Bitcoinnect demonstrates their bank-level two-way Bitcoin ATM, which they say will be launched in Hong Kong in a month or two.
BTC China promotes its own wallet Picasso
Other Bitcoin service application platforms