Lithuania to issue cryptocoin commemorating independence

Following the state independence centenary, Lithuania will issue the national collector’s coin, Fortune said, citing the statement of the local central bank.

This significant event deepens the use of digital currency technologies by the state actors in the world, although it will not be allowed to use as a means of payment, officials note.

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The active interest of the Baltic states towards technological advancement influences their economic agenda and leads to various ambitious programs. The attempts of another Baltic state, Estonia, to issue its own cryptocurrency called Estcoin have met a negative response from the European Central Bank. The international organization perceives digital currency as a threat to Euro. Clearly aware of this, the authorities of Lithuania (which is also the member state of the EU) do not allow to pay with this commemorative digital coin, although one will be able to change it for a regular one.

While this event is undoubtedly significant, this is still not a major step forward in terms of integration of cryptocurrency in the traditional payment system.