Estonia is mulling to launch its own government-backed digital currency through an Initial Coin Offering (ICO).
To be called Estcoins, the digital currency can be accessed by anyone in the world through the country’s e-Residency programme.
Go deeper with GlobalData
The managing director of the e-Residency programme Kaspar Korjus in a blogpost wrote: “No other country has come close to developing both the technology and the legal frameworks that would enable them to introduce and securely manage tradable crypto assets globally.
“The secure digital identities used by e-residents (as well as citizens and residents of Estonia) are now the ideal mechanism for securely trading crypto assets in a trusted and transparent digital environment. The tokens cannot be counterfeited and the government oversight means they cannot be used for illegal activities.
“At first, we didn’t exactly know who would apply and what these people would want most from the programme, but it quickly became clear that e-Residency offered huge value to entrepreneurs seeking trust, location-independence, minimal bureaucracy, low business costs and access to a wider range of fintech services.”
So far, the e-Residency initiative has signed up more than 22,000 participants from 138 countries.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData
