First Public Bitcoin Monument to Be Unveiled in Slovenia

Kranj, the fourth largest city of Slovenia, is going to be the first city in the world to have a Bitcoin monument built in a public space — a roundabout that connects Oldhamska and Gregorčičeva streets. The monument is to be a symbol of the growth of the overall crypto space and could potentially become a pilgrimage spot for the community.

Slovenia is a technology-friendly country which on some occasions has been designated as the “Silicon Valley of Europe”. However, until the advent of blockchain technology, the Central European country has seen little in the way of actual success.

A Bitcoin Symbol Roundabout

What the finished monument will look look

According to Slovenian news site Dnevnik, the inauguration of the monument will be held on March 13th, 2018, and the monument will be a Bitcoin symbol.

The commemorative sculpture will be placed in the middle of a traffic roundabout, and the roads on each side will represent the decentralized connections on the network. The monument symbolizes the growth that bitcoin and blockchain could bring to the economy of Kranj.

Last year, the Danish professional hockey team Rungsted Seier Capital changed its arena name to “Bitcoin Arena”. It was one of the first physical structures to have a representation of the Bitcoin theme. Now we also have the Bitcoin roundabout to indicate the growing trend among people from around the world.

Slovenia – A Pro-Bitcoin Country

The Bitcoin Roundabout before installation

Recently, Slovenia tried to market itself as a destination for blockchain technology companies. The Slovenian government is formulating crypto-friendly policies to attract domestic and foreign companies to invest in the country.

The popular Bitcoin exchange Bitstamp was started in Slovenia by  Nejc Kodrič and Damijan Merlak. However, its  registration was later moved to the U.K., due to lack of access to financial services in Slovenia. That’s a big problem the government will need to overcome if it wants to retain its crypto stars.

Recently Dr. Miro Cerar, Prime Minister of Slovenia, referring to blockchain technology’s potential, said:

“The government is aware of Slovenia’s involvement in the global flows, and with our vision of modernization and digitization promotion in all areas, we are bringing to the fore the introduction of new technologies. We thus recognize blockchain technology as an exceptional opportunity: in this respect, Slovenia is at the forefront and one of the most recognized blockchain destinations in Europe.”

By announcing the inauguration of Bitcoin monument, Slovenia has shown its openness and willingness to embrace the distributed ledger technology — at least symbolically. The central European country is sending a message to the world that it is open to blockchain based projects, but will need to back up its symbolism with actual policies if it wants to profit from them.

Will Slovenia be a leading location for blockchain endorsed projects? Let us know your views in the comments section.

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