Bank of Lithuania launched its own cryptocurrency
The financial institution announced the official launch of a collectible digital asset, based on blockchain technology and dedicated to the country's Independence Law
This week, the Bank of Lithuania announced the official launch of its own collectible cryptocurrency, based on blockchain technology.
As detailed by the creators, this asset is dedicated to the Lithuanian Independence Law of 1918 and its 20 signatories.
The new LBCOIN aims to be both a national symbol and a sign of the bank’s strategic choice to drive innovation in the field of finance and payments.
A director of the Bank of Lithuania, Marius Jurgilas, presented a formal and general description of the project for this cryptocurrency.
“Digital money is inevitable in the digital economy. Today, LBCOIN is what enables people in Lithuania and around the world to test new technologies in a secure environment, that is, perform all authentication procedures remotely, open an electronic wallet, exchange digital tokens with other collectors, or transfer them to the public NEM network “, detailed Jurgilas.
On the other hand, he added that the issuance of this asset allows the bank to obtain the knowledge necessary in the future to “issue digital currencies from the central bank.”
K. Tovar
Source: Cointelegraph
