Published On: Sat, Aug 26th, 2017

Estonia Considering Creating Its Own Cryptocurrency

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Estonia is seriously thinking about creating its own digital currency called the estcoin. This move could bolster the country’s digital residents to almost ten times its actual population.
There’s no denying the stellar rise of cryptocurrency. What many initially scoffed at has now become a major economic force. Large financial institutions, such as Goldman Sachs and Fidelity Investments, have jumped onto the cryptocurrency bandwagon. Now a major seismic shift may occur as a country, Estonia, is considering creating its own digital currency: ESTcoin. Will this new currency become the Baltic Bitcoin?

Estonia Occupies a Unique Position
Actually, the thought of Estonia creating its own virtual currency isn’t far-fetched. The small country occupies a unique position and is known for being extremely tech-savvy. It has the sixth-highest level of mobile broadband penetration in the world. In addition, the Wall Street Journal and Heritage Foundation have ranked Estonia as the sixth-freest country in the world, and the World Bank has ranked the country as number 12 in its Doing Business in 2017 report. The country’s income and corporate tax rates are very low as well, which does help draw in entrepreneurs.
Another point in Estonia’ …

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