LBCoin is the world‘s first blockchain-based digital collector coin. Together with its physical version, LBCoin is expected to be issued at the beginning of 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. 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.
Numismatic items issued by the Bank of Lithuania commemorate important events, phenomena or prominent figures. They are intended for collection, however, their use as a means of payment is not encouraged.