Eastcoin is a mooted national
cryptocurrency
A cryptocurrency, crypto-currency, or crypto is a digital currency designed to work as a medium of exchange through a computer network that is not reliant on any central authority, such as a government or bank, to uphold or maintain it. It i ...
, devised by the
Government of Estonia
The Government of the Republic of Estonia (''Estonian language, Estonian: Vabariigi Valitsus'') is the cabinet (government), cabinet of Estonia. Under the Constitution of Estonia, Constitution, it exercises executive power pursuant to the Constit ...
in August 2017.
In June 2018, amid criticism from banking authorities, Estcoin's plans were revised to no longer
peg its value to the euro, nor for it to be a national cryptocurrency, but that Estonia would plan to “explore various possibilities” for
blockchain
A blockchain is a type of distributed ledger technology (DLT) that consists of growing lists of records, called ''blocks'', that are securely linked together using cryptography. Each block contains a cryptographic hash of the previous block, a ...
technology. As it will be restricted to individuals within the
Estonia e-Residency program, it cannot be exchanged freely and thus technically doesn't qualify as a cryptocurrency.
In 2018,
the Estonian government said it is not planning to launch a national cryptocurrency and that it never planned to do so.
See also
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e-Residency of Estonia
e-Residency of Estonia (also called virtual residency or E-residency) is a program launched by Estonia on 1 December 2014. The program allows non-Estonians access to Estonian services such as company formation, banking, payment processing, and t ...
*
Estonia
Estonia, formally the Republic of Estonia, is a country by the Baltic Sea in Northern Europe. It is bordered to the north by the Gulf of Finland across from Finland, to the west by the sea across from Sweden, to the south by Latvia, a ...
References
{{Estonia-stub
Cryptocurrency projects
Internet in Estonia