Kranj, a picturesque alpine city in Slovenia, has erected the world’s first monument to commemorate blockchain, which the country hopes would signal its openness to digitization and innovative technology.
The Blockchain monument is placed on a roundabout connecting two streets to symbolize decentralized connections, the City Municipality of Kranj said in a website dedicated to the monument.
The monument features the alphabet B crossed by two vertical lines, similar to the prevailing Bitcoin logo.
The Kranj-based software company 3fs and the bitcoin exchange Bitstamp are the sponsors of the monument that was designed by Selman Corovic and KRARH Society.
Blockchain or the distributed ledger technology that underlies cryptocurrencies such as Bitcoin is touted to revolutionize business in future. Financial institutions are mainly drawn to the blockchain’s verification features and its potential to reduce transaction costs significantly.