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Lithuania is to Issue Digital Coin to Fend off Facebook

Jean Zheng

Summary: According to Reuters, Lithuania is about to issue the first central bank-produced digital coin in the euro zone. The digital coin, called LBCOIN, is based on blockchain technology and will go on pre-sale next week, each with an attached portrait of one of the 20 people who signed Lithuania's declaration of independence in 1918. The ...

According to Reuters, Lithuania is about to issue the first central bank-produced digital coin in the euro zone.

The digital coin, called LBCOIN, is based on blockchain technology and will go on pre-sale next week, each with an attached portrait of one of the 20 people who signed Lithuania's declaration of independence in 1918.

The LBCOIN is very similar to what is known as a central bank digital currency (CBDC), said Jurgilas, putting Lithuania at the forefront of development of a fiat digital currencies.

by Jean Zheng

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