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Baltic Alliance: Estonia, Latvia and Lithuania agree to cooperate on DLT


The Ministries of Finance of three republics have lately agreed on joint regional market development. There is a mention of the “distributed ledger technology” in the document, which is one of the most important aspects of blockchain technologies. This can be partly compared to R3, a consortium of the world corporations which agreed to research distributed ledger technologies jointly. Of course, the list of R3 members is much bigger.

While the Baltic states decide to develop blockchain frameworks compatible with each other, the countries from the Commonwealth of Independent States, the post-Soviet republics alliance, have not yet proposed anything similar. Russians, for example, lately started to test a blockchain structure intended for anti-monopoly purposes, but this and other blockchain projects mentioned in the Russian media are clearly focused exclusively on Russian business and state mechanisms.

American and Canadian authorities could also develop some blockchain structures together, but no plans were voiced from both parties yet. However, the Royal Bank of Canada experimented on Canada-US blockchain-based payments this September.

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