The Fourth-Largest City of Slovenia is Home to a Bitcoin Roundabout

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Kranj, the fourth-largest city in Slovenia, will soon make history by unveiling the world's first public Bitcoin monument.

«Roundabout Kranj,» as the monument has been officially dubbed, sees a Bitcoin emblem placed in the center of the roundabout connecting Oldhamska and Gregorčičeva road, a «connecting point» for the city's «urban ecosystem.»

The monument was designed by Selman Čorović & KRARH Society and its construction was financed by cryptocurrency exchange Bitstamp and technology startup 3fs, both of which are located in Kranj.

According to a statement, this place was chosen to represent the «decentralized connections» that the blockchain creates between individuals located across the globe, adding that the city expects that the Bitcoin monument will send a message which Slovenia embraces electronic technologies.

«By revealing the commemorative monument, Slovenia will produce and send in the world a message that emphasises its openness to digitization, its susceptibility to the use of new technologies and its hospitality towards innovative thinking, which aims not only at the optimization of everyday life, but at interpersonal trust, cooperation and transparency. To local residents it will be a reminder of connectivity and of openness to new things — the foundations of an excellent life in the future.»

This is not the first attempt to attract blockchain startups of Slovenia.

As CCN reported, Slovenia Prime Minister Miro Cerar gave a speech last year in which he said that the country was establishing a «national blockchain ecosystem» and hoped to become the «most recognized blockchain destination in the European Union.»

However, the country hasn't been quite as welcoming to first coin offerings (ICOs). In October, the Financial Stability Board warned investors that, like other cryptocurrencies, ICO tokens are unregulated, so buyers should «limit their investments» in this asset category. That said, regulators stopped short of adopting regulations to prevent investors from contributing to ICOs.