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Digital Currencies: Bank of Lithuania issues the first digital collector's currency

By Pot Project | Pot News | 10 Jul 2020



First timid step of a Eurozone Central Bank into the future of digital currencies.

The Central Bank of Lithuania has announced the sale of the world's first digital currency, which will also be a collector's item, on its online shop from 23 July.

Lbcoin, the name of digital currency based on the blockchain, consists of six digital tokens and a physical silver token. The Lithuanian Central Bank has announced that it will issue 4,000 Lbcoin, or 24,000 tokens and 4,000 silver collector coins.

In the city of Vilnius they are really aware of the potential of the CBDC (central bank digital currencies). The member of the board of the Bank of Lithuania, Marius Jurgilas, refers in the official communiqué announcing "the new page in the history of numismatics" and inviting "anyone wishing to purchase digital collector's money (19.18 euros each in case of physical silver coin) to register in good time on the Bank's website.”

The Lithuanian central bankers, in order to avoid hoarding, remind that every buyer will be able to buy only an Lbcoin in the first six days and only afterwards, if there are any left, the purchase will be unlimited.

How do you get in possession of a digital collector's coin?

That's easy. The official site of the Central Bank of Lithuania explains it clearly: at the time of registration the buyer will have an electronic purse similar to a wallet for cryptocurrency where the Lithuanian Bank will deposit the digital money purchased.
At the moment the Central Bank of Lithuania has not stated whether this currency can be exchanged and on which exchanges.

What about you? Would you buy Lithuanian digital currency being aware that it will be for the first period only collectible?

 

Official Statement

https://www.lb.lt/en/digital-collector-coin-lbcoin#:~:text=LBCOIN%20is%20the%20world's,created%20using%20the%20blockchain%20technology.

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