The worlds FIRST CBDC is launched by Bank of Lithuania on NEM Blockchain
This morning, July 23rd 2020, Lietuvos bankas / Bank of Lithuania, using NEM Blockchain, launched the worlds first #DigitalCoin testing the real world use for the future of #CDBC (Central Bank Digital Currency)
I am very pleased to say that I am the proud owner of six LBCOIN tokens and have saved them securely in my NEM wallet
I will be looking forward to trading them either on the Bank of Lithuania’s private Blockchain, or on the NEM public Blockchain — in fact, I have now started the first exchange transaction on the network to swap a token:
This coin launch is very significant (as I previously covered):
With this launch, the Bank of Lithuania will learn a number of real facts of how citizens interact with the LBCOIN, and how this can be used to transition to a full CBDC
The approach by the Bank of Lithuania is extremely forward-thinking and innovative — allowing them to learn from real interactions, as opposed to waiting for research to be compiled
Most other central banks are still in the “research phase”. Whilst this makes sense, I question whether asking existing payment providers, tech companies, and interested parties for their theoretical views, the innovation required to transform the payments world, and the CBDC space needs complete innovation and to start with a fresh and new process.
“True innovation is transformational and not an iterative process”
I applaud the Bank of Lithuania for this launch and will be closely following the findings from this and the learnings from the NEM Blockchain
The #LBCOIN can be purchased from:
On the 21st July 2020, the team shared their pre-launch webinar which answered many questions:
For more details on the NEM Blockchain:
About The Author:
Antony Welfare is one of the world’s leading experts on enterprise blockchain technology. Antony is the author of the books Commercializing Blockchain (Wiley, 2019) and The Retail Handbook (Rethink Press, 2018).
https://twitter.com/AntonyWelfare
Download Chapter One of Commercializing Blockchain for free:
