Online store launched in Lithuania for first digital collectible coin based on blockchain LBCOIN_French.news.cn

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Photo taken on July 9, 2020 shows a physical silver collector coin associated with the bank’s LBCOIN digital collector coin to be issued on July 23 in Vilnius, Lithuania. An online store (lbcoin.lb.lt) was launched in Lithuania by the country’s central bank on Thursday, giving the go-ahead to register to purchase the first digital collectible coin based on the LBCOIN blockchain. (Photo by Alfredas Pliadis / Xinhua)

VILNIUS, July 9 (Xinhua) – An online store (lbcoin.lb.lt) was launched in Lithuania by the country’s central bank on Thursday, giving the green light to register to purchase the first collector’s coin. digital world based on the LBCOIN blockchain.

“Today we are turning a new page in the history of numismatics, further exploring the potential of central bank digital currencies. This innovation will bring real benefits to society by contributing to future digital solutions”, Marius Jurgilas, member of the board of directors of Bank of Lithuania, was quoted in a press release.

To be issued on July 23, the blockchain-based LBCOIN consists of six digital tokens and one physical silver collector coin. The Bank of Lithuania will issue 4,000 LBCOIN, consisting of 24,000 digital tokens and 4,000 physical collector coins.

The coin is dedicated to the Act of Independence of Lithuania and its 20 signatories. Each token presents one of the 20 signatories and belongs to one of the six categories of signatories (priests, presidents, diplomats, industrialists, academics, municipal officials) with 4,000 tokens allocated to each category.

Buyers are recommended to register in advance on the LBCOIN online store. After confirming their identity remotely, users will receive an electronic wallet where Bank of Lithuania will transfer the purchased LBCOIN tokens.

In the period from the first to the sixth day of its sale, a buyer will only be able to purchase one LBCOIN. Later, the number of purchases for one person will not be limited.

After purchasing LBCOIN, collectors will receive six randomly selected digital tokens that they can redeem for a physical collector’s item, store in a dedicated electronic wallet in the online store, send as a gift, redeem with other collectors, or transfer towards a public NEM wallet. The price of LBCOIN is 99 euros (112 US dollars).

The physical silver collector coins, bearing an unconventional denomination of 19.18 euros, were minted at the Lithuanian Mint. In size and shape, they resemble a credit card, representing the Act of Independence and its signatories.

The first stages in the development of LBCOIN were taken during the hackathon organized by the Bank of Lithuania in June 2018. The LBCOIN project was carried out by the Bank of Lithuania and a team of external providers. (1 euro = 1.13 US dollars)


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