Kiev, the capital city of Ukraine, will soon have a monument to Bitcoin creator Satoshi Nakamoto. The exact location for the statue is yet to be finalized, but if a group called the Satoshi Nakamoto Republic has their way, it will be placed at the intersection of Kiev’s main Khreshchatyk Street and the Taras Shevchenko Boulevard.

Just in case said address doesn’t ring a bell, it’s the same location where the iconic red Karelian stone figure of Vladimir Lenin once stood before being demolished during the 2013 Ukrainian revolution.

Nakamoto Statue to Be Erected in Phases

The Satoshi Nakamoto Republic will kick off the initiative by installing a virtual monument with the help of virtual reality firm Raccoon World. The virtual statue of the Bitcoin creator will be visible to anyone using a specially designed mobile app.

Once the virtual monument is installed, the group will file a petition with the Kyiv City State Administration seeking permission to erect a physical statue at the same spot. Additionally, they will also kick off a fundraising campaign around the same time.

If the city administration should deny permission, the Satoshi Nakamoto Republic will find a different location for erecting the physical statue.

The Kiev Statue Is Just the Beginning

According to the Satoshi Nakamoto Republic, the Kiev statue is only a part of the bigger roadmap that the group is currently working on.

Among other things, the group is actively working on a Virtual Decentralized Blockchain Republic foundation. If all goes as per plan, the Foundation could buy an island to establish a first-of-its-kind Satoshi Nakamoto City, where the foundation’s headquarters will be based.

The Virtual Decentralized Republic will also work to establish embassies in various cities across the world. Each embassy will be represented by an ambassador appointed by the Republic. Among other responsibilities, the ambassador will also be overseeing the erection of Satoshi Nakamoto monuments in collaboration with the host city.

Anyone who provides funds for the cause will be addressed as “Crypto Angels.” The Republic will reward the Crypto Angels with Satoshi tokens, which the recipients can exchange for gaining citizenship in the Virtual Decentralized Republic. Alternatively, the recipients could also choose to trade their Satoshi tokens for a profit just like they would do with any other digital asset.

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