Estonia, The First Country Planning to Launch an ICO

Estonia’s e-residency program manager informed about working on creating “estcoin”, according to Quartz. Besides, the managing director of program said there are several ways tested by his team to launch estcoins “without alarming the European Central Bank.” The basic idea behind “estcoin” is creating a crypto-token for a “digital nation” comprised of the 27,600 people from 151 countries who are e-residents of Estonia.

People could be able to earn estcoins by referring others to become e-residents, or doing things that enhance the e-residency program. These tokens would be tied to Estonia’s digital identity platform. They could be used as digital signatures, for logging in to government services, and so forth.

The following move is to get  token-issuers for the head of the e-residency program. The aim is to become e-residents and by using the program to launch their own ICOs. If the plan is succeded, Estonia will be able to create a token for its e-residents. So it could become a monetary community holding its “digital nation” together.