Estonia, a small Northern European country bordering the Baltic sea and Gulf of Finland, wants its own official digital cryptocurrency.
According to reports, officials at Estonia are looking to launch a government backed digital currency called “Estcoin” with the help of Ethereum founder Vitalik Buterin through an initial coin offering.
Kaspar Korjus, Managing Director at e-residency, Estonia’s office through which non-citizens can apply for an digital residency card, said this in a post:
There are several ways that the initiative can be structured, but it is important that Estcoin investors gain only when all of Estonia gains.
Ethereum founder Vitalik Buterin has a keen interest in Estonia’s development as a digital nation and has provided valuable feedback for the estcoin proposal.
He believes estcoins could be used to incentivise investors to support the success of a country in a way that is not currently possible through existing means of raising international finance.
Read more at CNBC and Fortune.