In an attempt to establish itself even further as a pioneer in fintech and cryptocurrency hub Lithuania will issue the first-ever collectible crypto coin in the world. The 1918 act of independence is the commemorative theme of the collectible crypto coin and will feature its 20 signatories. In our cryptocurrency news today, we read more about this amazing news.
It is expected this first-ever collectible crypto coin in the world digital collectible coins to be issued by the Bank of Lithuania in the spring of 2020. According to the official announcement, the commemoration is devoted to the nation’s February 1918 declaration of independence and its 20 signatories.
In total there will be 24,000 crypto coins scheduled for emitting on the blockchain and they are categorized into six categories. Marius Jurgilas, Siting Member of the Board of the Bank of Lithuania, declared;
“This innovative coin will feature the signatories due to their significant role in the country’s history and contribution to the restoration of our independence.”
He also said that the project will be a source of invaluable experience and know-how in the processes of creation cryptocurrencies for the Bank of Lithuania. This may be the first step for Lithuania if it wants to insert itself in the race for cryptocurrency emitting by the central bank, in which the undisputed leader in China where a pilot scheme has already been planned.
The announcement added that it is expected to have encouraging effects on younger people in coin collecting as a consequence of the token, and also it can be an innovative way of introducing them with cryptocurrency and blockchain technology. The collectible crypto coins will be sold exclusively on the digital store of the Bank of Lithuania and it will not represent a legal tender.
The collectors will get six random coins and will have the opportunity to exchange them for a physical silver coin after one from all of the six categories will be collected. The value of the physical coin will be symbolic of 19.18 euros representing the iconic date in the national history of Lithuania. A YouTube video portraying the launch displays the collectible coins as square tokens, probably with the symbolism of their place on the blockchain. The silver token will be the size of a credit card, and also will depict the Act of Independence and its signatories.
The announcement stated continually that this commemorative action is an instrument in assisting the implementation of the Bank of Lithuania’s strategic direction in the sector of innovation and fintech. It has the aim to assist local and global businesses enriching their knowledge of blockchain and the comfort that cryptocurrencies afford.
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