The world‘s first blockchain-based digital collector coin created by the Bank of Lithuania is dedicated to the 16 February 1918 Act of Independence of Lithuania and its 20 signatories. The coin is expected to be issued in spring 2020.
The Bank of Lithuania is planning to release 24,000 collector tokens created using the blockchain technology. Each token will feature one of the 20 signatories and collectors will have a chance to collect the entire set. The tokens will be divided into 6 categories by the signatories’ areas of activity, with 4,000 tokens allotted to each of them. When purchasing the digital coin, buyers will get 6 randomly selected digital tokens and only upon collecting a token from each of the 6 categories they will be able to redeem a physical silver coin. The tokens will be available for purchase and storage on the Bank of Lithuania e-shop.
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. Quite a few of them could be called innovators of their time, as they created and brought progress to Lithuania, said Marius Jurgilas, Member of the Board of the Bank of Lithuania.
In honour of this prominent date, the physical silver coin will bear an unconventional denomination – €19.18 – while its size and form will resemble a credit card, depicting the Act of Independence and its signatories.
The coins won’t enter circulation and cannot be used as legal tender. The collectible will be created through blockchain technology and sold exclusively on the central bank’s online store.