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Briefing
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- Government-Backed ICO – Estonia planning to launch Initial Coin Offering in 2018, selling cryptocurrency “estcoin” to public, which will be used to support country’s digitization efforts, including payments and e-residency program
- E-Residency Program – Allows foreign residents to set up businesses in Estonia without stepping foot in country, giving them access to government services, banking, payment processing, taxation, and more
- Potential Cryptocurrency Use – Include providing services to e-residents, verifying online identity, or as means of payment for public and private services
- Use of Raised Funds – Money raised from ICO will be used to fund new technologies for public sector, and invest venture capital in Estonian companies
- Prominent Backing – Project backed by Ethereum founder Vitalik Buterin who provided feedback to concept
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Accelerator
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Market Disruption
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Sector
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Government (excluding military)
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Source
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O'Brien, C., "Estonia planning its own cryptocurrency, called ‘estcoin’, in bid to become global ICO hub",
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Canepa, F., "Estonia's tech guru outlines ideas for digital 'estcoin'",
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Browne, R., "Estonia wants to launch its own government-backed cryptocurrency called 'estcoin'",
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Tepper, F., "This European country may hold an ICO and issue its own cryptocurrency",
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Korjus, K., "Estonia could offer ‘estcoins’ to e-residents",
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AcceleratingBiz analysis
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Original Publication Date
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January 19, 2018
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