Estonia reveals uses for its proposed cryptocurrency

Dec 27, 2017, 5:36 AM EST
(Source: ray.k/flickr)
(Source: ray.k/flickr)

Three months after revealing its plans of launching own national cryptocurrency, the small Baltic nation of Estonia has outlined three potential uses for the digital tokens dubbed as “estcoins.”

The cryptocurrency could be used as a “community token” for the government’s e-Residency program that lets anyone set up business in the Baltic state without being physically present there, notes Futurism.

A contentious use of the digital currency would be as “euro estcoins,” which will have a certain value relative to the euro although creation of an alternative currency in the euro zone is barred.