World’s first collectible digital coin called LBCOIN was sent to the email inbox of European Central Bank policy makers on Monday from one of their colleagues. The coin came to Governing Council members as a link to an e-wallet with six digital tokens. These tokens feature a portrait of one of the 20 signatories of Liithunai’s 1918 declaration of independence. The central bank governor believes the LBCOIN experience will help ECB in reaching the decision on a digital euro. According to him, it was the social media giant Facebook’s stablecoin Libra that helped euro-area central banks in recognizing that digitization can revolutionize the financial system.
The users of the tokens can also trade them among themselves after activating the tokens. The specific set of them can also be exchanged for a credit card-sized physical coin that has a nominal value of 19.18 euros. Chinese are already testing it in practice, launching the CBDC in certain regions.