Estonia might roll out its own digital currency

The digital currency could be used to pay for both public and private services in the country, according to a blog post published by the country’s e-residency managing director Kaspar Korjus. Furthermore, Ethereum’s Vitalik Buterin gave his feedback on the proposal, and stated that he believes the token could provide ways of incentivizing investors.

If an ICO were indeed going to take place, raised funds would be managed by a public-private partnership that guarantees funds are only used for the developments of Estonia’s digital infrastructure. Nevertheless, for now, the goal is just to gather feedback, and on Estonia’s e-residency website, anyone can sign up to keep up with Estcoin. The team behind the project also hopes people will provide feedback with the hashtags #estcoin and #eresidency on social media. Once enough feedback has been gathered, a whitepaper will be created before a pilot project is launched to assess demand.

In 2014, the country launched its e-residency program and, since then, about 22,000 people from all over the world signed up. The program gives users a government-backed digital ID, the ability to register an EU company, access to business banking, and tools to digitally sign documents without actually living there.