A sculpture devoted to blockchain technology is seen at a roundabout in downtown Kranj, Slovenia, on March 13, 2018. The first-ever sculpture in the world devoted to blockchain technology has been officially unveiled in downtown Kranj, Slovenia's fourth-largest city. (Xinhua/Matic Stojs)

KRANJ, March 13, (Xinhua) -- The first-ever monument in the world devoted to blockchain technology has been officially unveiled in downtown Kranj, Slovenia's fourth-largest city.

The monument, a joint work by the Kranj Municipality with the support of the companies 3fs and Bitstamp, is circular and features a bitcoin cryptocurrency symbol and two vertical lines in the center.

According to the Kranj Municipality, the bitcoin symbol in the circle does not apply to the cryptocurrency itself, but rather to the technology behind the blockchain network.

The Mayor of Kranj city Botjan Trilar told Xinhua after a simple unveiling ceremony that the monument devoted to blockchain technologies is the first of its kind not just in Slovenia, but in the world, and will serve as a tribute to the technology's possibilities.

The bitcoin symbol on the monument is also a reminder that Slovenia was among the first to recognize the cryptocurrency, the mayor explained.

The monument, weighing three tons, had been under construction for two weeks before the erection.