Sirlibz
The Bank of Lithuania has issued it’s digital currency called LBCOIN, a digital collector coin according to a July 23rd press release.
The NEM-Blockchain based coin would allow citizens or individuals within and outside Lithuania to test new technologies pertaining to finance and that too, in a safe space. LBCOIN currently houses 6 digital tokens and physical collector coins.
“The digital coin is a striking illustration of what we have achieved in just a few years following our strategic decision to take a firm path towards financial and payment innovation. It serves as a bridge that brings together classical numismatics and rapidly evolving financial technologies. I have no doubt that LBCOIN will strengthen Lithuania’s role as the regional fintech hub,” said Vitas Vasiliauskas, Chairman of the Board of the Bank of Lithuania.
The Bank issued 4,000 LBCOINS which is 24,000 Digital coins and 4,000 silver collector coins. LBCOIN is dedicated to 20 signatories of the Act of Independence, each coin features the 20 signatories and belongs to the 6 signatories (Priests, presidents, diplomats, industrialists, academics, municipal servants).
“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. At the same time, this also allows us to get the know‑how in issuing central bank digital currencies (CBDC), which in turn should benefit the central bank community and the euro area as a whole,” said Marius Jurgilas, Member of the Board of the Bank of Lithuania.
How to Get the Coin
The coin is available for purchase at the LBCOIN e-shop and currently will be limited to a one person to 1 LBCOIN protocol after the first 6 days of sales. For every LBCOIN purchased, collectors get 6 randomly selected digital tokens which could be exchanged for a physical collector coin, sent as a gift, swapped or stored on the Nem Wallet.
