July 23, 2024

Bank of Lithuania will issue collection tokens in spring 2020

The Central Bank of Lithuania plans to issue blockchain-based virtual collectible coins dedicated torestoration of Lithuanian statehood. The launch is scheduled for spring 2020.

As indicated on the official website of the Lithuanian Central Bank, tokens are dedicated to the Lithuanian Independence Act and the twenty participants who signed this document.

The Central Bank of Lithuania will issue 24,000 collectible tokens,created using blockchain. Each token will display one of the twenty representatives who signed the Act, so users will have the opportunity to collect coins with all the persons who participated in its signing. Tokens can be bought and stored in the electronic office of the Bank of Lithuania.

Tokens will be divided into 6 categories, 4000 eachpieces in each. Upon purchase, the user will receive 6 random digital tokens. If the buyer collects tokens from all six categories, he will receive one physical silver coin with a face value of € 19.18. The coin will look like a credit card with an image of the Act of Independence and its participants.

According to the designer of the collectible coin, Giedrius Paulauskis, a digital image consists of 36,500 pixels - about the same number of days have passed since the date of signing of the Act.

“This innovative coin is created to honor those who played an important role in the history of our country by restoring its independence,” — said Member of the Board of the Bank of Lithuania Marius Jurgilas.

Jurgilas added that by implementing this unique idea, the bank will gain the necessary experience to create virtual currencies. In addition, the coin will arouse youth interest in numismatics.

The Central Bank of Lithuania planned to issue a numismatic cryptocurrency coin with game elements in March last year.