There are 5 Companies in Lithuania
that provide Blockchain Services!
Lithuania's ICT sector is evolving, full steam ahead. An increasing number of companies have arrived in the country, drawn by its infrastructure, people, and business-friendly mindset. With some of the fastest and most affordable internet connections in Europe and a tech-savvy population ranking 16th in the world for ICT skills, Lithuania has recently attracted giants such as Google
Discover Top IT Companies in Lithuania specialized in Blockchain including Initial Coin Offering Consulting, Smart Contract Development, NFT and more.
Blockchain Service gives companies the ability to develop, host, and utilize their own blockchain apps, smart contracts, and other features on the blockchain infrastructure built by a vendor via cloud-based solutions.
Blockchain is one of the most rapidly evolving IT technologies. As of 2021, 2.8% of the world's population uses blockchain, with 80,025,125 wallet users, according to the Buy Bitcoin Worldwide report.
Explore Top Blockchain Companies in Lithuania
Innowise is a custom software development company based in Poland, Germany, Lithuania, Switzerland, Italy, Georgia, and the USA.
Custom software development company with 15+ years of experience. We provide engineering and IT consulting services to clients in the US and Europe.
Excellence in development
We are your digital partner, designing best-in-class experiences for your users. With our user-centric and data-driven approach, we take you all the w...
We are WYRD IT - a digital product development company focused on helping startups and established businesses build and scale their online presence.
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The ICT in Lithuania: Overview and Companies Data
In the past 10 years, Lithuania developed its IT industry and infrastructure. Projects like e-Lithuania, e-residency, and VR Lithuania among others, transformed the country into a fully digitalized hub in the Baltic region.
The IT sector itself plays an important role in the Lithuanian economy, registering a 739 millions Euros turnover in 2020. Also, ~4.0% of the entire Lithuanian workforce is enrolled in the IT industry, for those 4200+ digital companies that export their services in 130 countries.
Why working with Lithuanian IT companies
Essential e-solutions in Lithuania that enable the digital society to function smoothly were all built by local Lithuanian companies. This enhances the reliability of Lithuanian IT companies not only locally but also worldwide - about this we will relate a bit later.
The already built digital system in Lithuania, already tells a lot about Lithuanian IT companies that perform excellently, and are becoming more and more attractive not only for companies but also for skilled professionals that are enjoying preferential conditions.
So, after all, why you should work with Lithuanian IT companies?!
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Skilled workers - that provide high-level digital services
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Open market - that facilitate and ease the access to IT resources and companies services
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Low taxes - compared with other European countries, Lithuania helps local IT and tech companies generate sales, by cutting taxes - which can reflect a lower price/project for the end customer
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Healthy business environment - a well-established communication between businesses is assured
What you should pay attention to when working with Lithuanian IT companies
However, working with Lithuanian IT companies can be also tricky. Even though the post soviet reminiscences are not visible, you still can hit Russian Lithuanians that are providing the same IT services, but on a relatively lower quality, and in a very specific manner. Roughly, some of the companies are only benefiting from the developed IT environment in Lithuania, but don’t follow the same guidelines as the wide majority of companies do.
Another challenge is the limited human resources that Lithuanian companies can have. The country’s population is just above 3 million people and 6% of it is simply not enough to cover all market demands, so possibly it would be difficult to find an available IT company based in Lithuania to take a big project or so.
How developed is Lithuanian IT Infrastructure
Lithuania ranks among the top European countries with the highest IT infrastructure. As mentioned previously, its digital transformation made the country one of the regional leaders in innovation. But even so, the country is still not done yet with developing its IT capabilities.
How does the Lithuanian IT industry perform compared to the neighboring countries?
In the Baltics, Lithuania is a detached leader in IT. Latvia and Estonia are behind simply because they focused on developing other sectors. But the Lithuanian performance is also motivated by people’s attachment to digital technologies. The continuously growing number of digital agencies confirms once again that Lithuania ranks better than neighboring countries.
But speaking about Lithuania as an extension to Europe’s northern region, the country is in tight competition with Latvia and Estonia, which also find themselves somewhere in the first half of the European IT community.
Compared with those two countries, Lithuanian companies will rather provide lower prices for their IT and digital services and products, but at the same time, Lithuania has way more limited resources than Estonia or Finland.
All in all, Lithuania is a great country to consider for digital projects, and local companies' rich experience with digital transformation can make a difference in their projects.
Lithuania's Tech in 2022 - Update
Considering the progress Lithuania made throughout the last 3 years, is no wonder that 2022 will be another good period for the ICT and especially local IT companies. Lithuania is abundant with news and tech-related events meant to encourage startups and entrepreneurship. As a direct result of continuous efforts invested in ICT, Lithuania got the #10 global position in FinTech and has over 42K ICT specialists employed in the tech sector as of December 2021. With this speed, Lithuania is estimated to become more than just a competitive country in the region.
What is Blockchain and what are its benefits for your projects?
Blockchain Service gives companies the ability to develop, host, and utilize their own blockchain apps, smart contracts, and other features on the blockchain infrastructure built by a vendor via cloud-based solutions.
Blockchain is one of the most rapidly evolving IT technologies. As of 2021, 2.8% of the world's population uses blockchain, with 80,025,125 wallet users, according to the Buy Bitcoin Worldwide report.
Blockchain boosts business competitiveness without investing in research, planning, or infrastructure and the advantages to choose blockchain service providers for your company are:
- Improved safety
- Increased accountability
- Real-time tracking
- Automation
- Enhanced productivity
It's not simple to pick the best blockchain service providers to deal with. There are several things to think about:
- Location
- Price
- Team size
- Previous experience
- Turnover time
- Communication means
Blockchain technology solves urgent problems in a variety of industries, including healthcare, logistics, manufacturing, and information technology. Businesses across a range of sectors may undergo substantial transformations by combining blockchain with disruptive technologies like AI, Big Data, and Cloud.
There are almost 1000 blockchain service providers on our platform which offer a wide variety of solutions that will enhance your ecosystem's scalability, security, and transparency. Explore their profiles and feel free to get in touch with them.
Also, if you want to become a reliable Blockchain Developer and learn more about blockchain technology, TechBehemoths has a complete guide on how to become a service provider.