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Lithuania's central bank on Saturday held a hackathon aimed at issuing the world's first digital collector coin to mark this year's centenary of independence for the Baltic eurozone state.
The programming prototype designed by a team of IT developers from Ukraine that won the event, held in the capital Vilnius, was not based on existing blockchain, or so-called distributed ledger technology.
Computer - Platform - Trading - Bitcoin - Cryptocurrencies
The peer-to-peer computer platform which underpins trading in bitcoin and other cryptocurrencies is decentralised, making it impossible for any single administrator to control it.
But Lithuania's central bank was keen to have a more private and manageable system.
Winners - Technology - Banks - Control - Egidijus
"The winners have come up with a technology allowing central banks to maintain control," Egidijus Paleckis, who is in charge of the project, told reporters.
Marius Jurgilas, a member of the executive board of the Central Bank of Lithuania, encouraged the hackers to "make history" by bringing "numismatics and the digital world together" as he launched the event on Saturday.
The hackathon attracted eight...
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