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The new digital currency would initially just be an add-on to the e-Residency program and there are no legal restrictions for doing that.
Estonia already has a history of using the blockchain technology in its digital infrastructure. Here is one of our earlier post on the blockchain use in the Estonian healthcare and other sectors.
These technological advantages are also supported by the private sector. How to solve the digital identity and bring privacy to a whole new level? Now Estonia seems to have the framework with economic motives a governmental crypto currency can create, whether it is tax collection, new business models or added value to its e-Residency program to pursue its own coin.
This new currency following its current value system transparency, freedom and minimal interference is a logical next leap for the country that has earned its name as a digital leader.
This kind of government-backed, blockchain-based, transparent, and trustworthy cryptocurrency would be the awaited boost for the state of digital capital. It would finally bring instant global money to anyone around the world, leaving the hefty fees of banks to the history books, where they belong. Announced today by the e-Residency team working under the Estonian government, this new currency will probably be called estcoin.
What do you think, can Estonia pull it off this time? Share your thoughts in the comments! Looking to boost your business with Digital Innovation?
Find a live Bitcoin price chart, exchange rate data and Bitcoin news. Visit today at Blockchain. 26 Dec Looking for alt coins, cryptocurrency to invest or list of crypotocurrency other than Bitcoin? Here are top 8 Bitcoin alternative cryptocurrencies in. Up to date prices and charts for Bitcoin, Ethereum, and Litecoin. Coinbase makes it easy to buy and sell digital currency!.