Estonia Dreams Big, Contemplates Own ICO

FinTech, ICO News, Innovation, News | August 24, 2017 By:

Estonia is considering an initial coin offering for what it calls estcoins, a digital token that would be offered through an initial coin offering (ICO) to raise money for the nation.

The idea is still just that – an idea – but the Northern European country has been aggressive in its technology push. They were the first nation to offer an e-Residency program, a form of digital citizenship in which government services are available without being physically present in Estonia.

Kaspar Korjus, the director of Estonia’s e-Residency program, posted yesterday about the potential ICO in a Medium article. He indicated a white paper delving into the potential uses for the Estonian tokens may follow. Vitalik Buterin, one of the ethereum co-founders, is advising the country on its plans.

Korjus said that any potential ICO funds could be jointly managed by the government and private companies. The proceeds could be used for public sector upgrades as well as new projects from both Estonians and e-Residents.