Here at FintekNews, we’re pretty intrigued with the whole idea of Initial Coin Offerings (ICOs) and in fact we’re planning one ourselves. While this fund-raising tool is definitely emerging as an important new fund-raising tool, we have to admit we’ve never seen a NATION do an ICO. That is not until today. Apparently Estonia is looking to offer a national digital currency through an ICO. While not yet ready, it’s still QUITE an intriguing idea. We continue to maintain that many other nations are well ahead of the US in building out digital currency infrastructures.
Interestingly, the Wall Street Journal published a post on Saturday about a different coin – the “Exio-Coin” – that was supposedly going to do an ICO and be the first coin ever to be endorsed by a sovereign nation. Could this be one and the same story – or just a coincidence of timing with our report above? We’ll soon find out.
“Estonia launched its e-residency program about three years ago and, since then, about 22,000 people from all over the world signed up to the program that gives them 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.
Now, as reported by CCN, Estonia might be the first country in the world to offer its own token through an Initial Coin Offering (ICO). The token, according to a blog post published by the country’s e-residency managing director Kaspar Korjus, would be dubbed “estcoin”.
Although Estonia isn’t the first country in the world to consider launching its own digital currency – back in June CCN reported on China’s central bank testing its own national cryptocurrency – its e-residency program may give it an edge over other countries…”
Full Story at CryptoCoinNews