Estonian government representatives proposed today to launch their own crypto tokens, possibly becoming the first country in the world to do that. This bold move would bring cryptocurrencies to a new era, also destroying the current Bitcoin and Ethereum and other popular blockchain based currencies on the way. Here’s how it would all roll out…
The value of Bitcoin has been skyrocketing during the past months — it has offered a risky, yet profitable investment model for many. Still, due to the lack of popular trust, they are far from being the global currency you would actually use for daily purposes. But what if there is a solution to solve the trust issue for good?
A few years back Estonia announced its innovative e-Residency program — where anyone around the globe can become the digital resident of Estonia. Before the Estonian e-Residency, there were also other private sector initiatives to offer government related services (like company registration) to Internet users worldwide. But there was one problem — private companies offering public services are always limited by the legislative restrictions. Estonia was the first country to offer its digital public services to anyone around the world making it more reliable than any private sector offering.
Similarities can be seen in the blockchain based digital currencies (like Bitcoin, Ethereum, and others). These initiatives were founded independently from the governments and while the lack of legislation and government restrictions has been the cornerstone for the growth, it is also the main challenge for further scaling of these crypto coins.
Continue reading on Medium: https://medium.com/innovation/how-estonia-could-bring-an-end-to-bitcoin-df5bdfe484ca
This article was first published on ehasoo.com