Blockchain News

Lithuanian’s Central Bank Disclosed a Cryptocurrency, for Collectors

The Central Bank of Lithuania handed out a NEM blockchain-based collector token in honour of the country’s Act of Independence of 1918.

The Bank of Lithuania, disclosed a digital, blockchain-based collector coin earmarked to the country’s Act of Independence of 1918 and additionally its 20 signatories.

The digital coin illustrates “a bridge that brings together classical numismatics and rapidly evolving financial technologies”, according to the central bank. 

The modern LBCOIN is hoped to as a national symbol moreover as an indication of the bank’s strategic selection in order to navigate creation in the space of finance and payments.

“Digital money is impending ”

Marius Jurgilas, a member of the board of the Bank of Lithuania, bestowed an inclusive summary of the project’s, remarking that 

“Digital money is inevitable in the digital economy. Today, LBCOIN is what allows people in Lithuania and around the globe to test new technologies in a safe environment, e.g. go through all authentication procedures remotely, open an e-wallet, swap digital tokens with other collectors or transfer them to the public NEM network.”

Furthermore, Jurgillas remarked that for the bank, allocation of the coin “allows us to get the know‑how in issuing central bank digital currencies, which in turn should benefit the central bank community and the euro area as a whole.”

The LBCOIN allocation contains six digital tokens additionally a physical collector coin. 4,000 LBCOINs stood to be handed out in total — 24,000 digital tokens and 4,000 silver collector coins.

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