CoinTelegraph spoke with Rain Lõhmus of Estonia’s LHV Bank about experimenting with the blockchain via colored coins, bitcoin-based certificates of deposit, and the country’s attitude toward technology and innovation.
Rain Lõhmus is the Chairman of the Supervisory Board at LHV Bank, Estonia’s largest independent bank, which recently backed a FinTech platform and money-transfer app that will use Bitcoin to facilitate transactions.
Lõhmus is also the CEO of Cuber Technology, a subsidiary of LHV Group, the developer of the open-source Cuber Wallet app enabling users to send and receive euros instantly and at no cost.
“The Bitcoin blockchain is the oldest, most tested and secure [public-key cryptography], and hence suitable for our current applications.”
— Rain Lõhmus, Chairman of the Supervisory Board, LHV Bank
CoinTelegraph: What is LHV and what is its share on the Estonian market?
Rain Lõhmus: LHV is the largest locally owned (independent) bank and asset management company in Estonia. LHV is the 5th largest bank and 2nd largest pension fund manager in the country.
Started as a brokerage firm, it received its bank license in 2009. Founding