Are you digitally Estonian yet, the Estonians asked
The rise of cryptocurrencies and ICOs
It’s clear that there is strong interest in cryptocurrencies and other blockchain-based solutions among our growing community of e-residents.
Just like e-Residency, cryptocurrencies have evolved from a niche idea into an increasingly normal part of modern life for people everywhere in the world because they offer real solutions to real problems.
Several countries have begun experimenting with the introduction of their own digital currencies and China has even developed a prototype cryptocurrency that could one day be put into circulation.
However, Estonia has a clear advantage in this area due to its advanced digital infrastructure and its e-Residency programme. No other country has come close to developing both the technology and the legal frameworks that would enable them to introduce and securely manage tradable crypto assets globally.
It has understandably taken time for all governments to understand and embrace cryptocurrencies as they have a duty to address major challenges, such as the risk of money laundering. In the long term, however, governments may have no option but to (literally) accept cryptocurrencies.
Fortunately, the secure digital identities used by e-residents (as well as citizens and residents of Estonia) are now the ideal mechanism for securely trading crypto assets in a trusted and transparent digital environment. The tokens can not be counterfeited and the government oversight means they can not be used for illegal activities....
