A Turning Point in History
While I was surfing through the internet last night and ran across an article an article on cnbc that references a meduim blog post by Kaspar Korjus who is a Managing Director at e-Residency.
Estonia has just 1.3 million residents, but what would happen if our country had 10 million digital residents too?
This led me to look into what e-Residency was and how it was linked to the government of Estonia. Needless to say I ran across https://e-resident.gov.ee and my mind was completely blown!!!!
E-Residency is a new digital nation for global citizens, powered by the Republic of Estonia
- Estonia is the first country to offer e-Residency, a government-issued digital ID available to anyone in the world
- E-Residency offers the freedom to easily start and run a global business in a trusted EU environment
If you are not as excited about this as I am then i really don't know what you are doing in the crypto space.
This Changes Everything!!!
If this project and it's ICO are successful it could lead to a snowball effect as other nations start to create government backed currencies on the blockchain. I have to admit that I didn't know much about this small european country until I heard about this ICO but I will definitely be participating in any ICO that is offered to the public. If there is any ICO that crypto nerds should get behind it should be this one. I will be following up with this post as more information becomes available to me.
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Big thumbs upWow @aloa it's Amazing :))
This might be the catalyst that bring crypto mainstream. It's going to be interesting what platform they could do their ICO on. Right now the main platform will be Tezos, Ethereum , Neos, Waves and BitShares. They could try to create their own independent chain but I think they should build on the backbone of another.
I'm pretty sure they will be using Bitshares
I guess is an interesting experiment by Estonia government to issue a new coin. I wonder what would the European Central Bank think about it and if there is any law restricting euro members for issuing another coin.
I was thinking the same thing. The EU is is big trouble right now and if countries can raise cash via these ICO's what is the need for taking loans from the IMF or whatever they have in place with the EU. I'm going to be doing more research on this. It could go horribly wrong from them as the central banks could apply pressure and deny them baking access. We will have to see...
The euro is a great idea as it stimulates trading between countries. However, the problem is the monetary policy, interest rates are always set to the most convenient value for Germany and this is not always the ideal value for all the countries.
Of course this is not the only problem. Initial economical conditions for joining the euro became more flexible and at least one country (Greece) faked the stats to join.
Blockchain technology helping countries, we are making progress everyday, i think 2018 will be the best year of crypto
Thanks for the post :D
I second that!!! 2018 might be the year that crypto ๐๐จโ๐
Wow, this is fascinating. I'm definitely interested in getting in on this ICO
I've been thinking about it and now I have somewhat of a theory on how this might go down. I'm going to do a follow up post.
Definitely worth an upvote and a resteem :]
Thank you!!! I'm really going to keep my eye on this one!!!
I was living in Estonia for a couple of years, got a lot of friends from there. They were always very passionate about tech and lately invested a lot of money in this field in general. Regarding Estcoin - it will be very interesting experiment and I bet all neighboring countries will closely follow it :)
See if you can talk to any of your friends about this. I don't think the average citizen might know about it.
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Didn't Iceland do this a few years ago with AuroraCoin? Every citizen got like $35 worth of coin and then they all sold it immediately and the price tanked and then I bought a bunch. Can this one be mined? And is anyone using the NVIDIA p106/p107 for mining yet and if so how is it compared to Radeons? I know there is no video out so is it worth getting since from what I hear the drivers are only allowing two GPU's per CPU which is balls. They should allow at least 4-6 per dual/quad core CPU. But since they are getting ~35% mining ability over their GTX counterpart I am wearing of buying a mining only NVIDIA GPU let alone more than one. I currently run a GTX 1080Ti (MSI Lightning) and an Intel i7-6800K @ 4.0Ghz but also have a i3-2120 that I use to mine, off a MSI Z77A-GD55 mb, with 8Gb RAM. Also how much does vRAM on a mining rig matter? When I was mining I was told it didn't really matter so long as you had at least 1-2Gb of GDDR5. Now with cards sporting 6Gb-11Gb of GDDR5/GDDR5X and HMB how should I proceed and heck, what is everyone mining these days? I just got a new job where I can bring in my own computer equipment and plan to have the company pay to run two rigs 24/7. But I also want to have at least 2 GPU at home so I can game and mine and control my hashing from home and hopefully sport some sweet GSync Ultrawide gaming. But with the company paying for the juice I might as well mine 24/7 in my office closet on a rack right next to a third floor window with that nice NY autumn and winter air coming in. Does Estonia use the Euro btw? How stable is their economy/currency?
LOL that is a lot!!! For one Aurora coin wasn't backed by the government of Iceland. In fact they were against it. I don't know the details about this one but I'm thinking it is going to be a crowd fund rather than create their own from scratch. We will have to wait and see.
this tech good? Looks like a red herring for enslavement due to the people creating it.
I'm not sure yet...Blockchain itself is a double edge sword. I have to do more research on the country itself to gain a better understanding. From what I gather they are essentially allowing you to register a business virtually with domicile in Estonia but you don't have to physically be there.
Well that's great news! It could be the beginning of something huge. Who knows, it could really lead to big things to happen.
Only time will tell...
What!! Backed by the Gov. now that is certainly going to be a game Changer !!
Looks like a very interesting project. I will take a closer look at the ICO and do a right-up.
Yea I couldn't find too much information on it except from the article and their website. So far seems really interesting. I saw that Tim Drapper the Tezo backer is involved in some way.
Backed by govt. Its going to blow. ;)
Thats new, but sertanly interesting!
This is fascinating, @alao. For anyone considering investing into ICOs, I've just created a handy chart for separating out the "visionaries" from the "opportunists," based on a recent investors conference I attended -- it's a great tool for us all to decide whether this is good bet: https://steemit.com/blockchain/@futurehuman/are-you-looking-at-a-visionary-or-an-opportunist-a-comparison-chart-for-blockchain-ico-investors .
Also, this post discusses some of the challenges that people face in investing in this fast-paced market: https://steemit.com/blockchain/@futurehuman/the-rise-of-the-ico-and-bad-actors-three-hazards-for-blockchain-investors-to-bear-in-mind-in-today-s-hot-marketust .
Yea the crypto market is very seedy and filled with deceitful actors. When you a trader you sometimes forget to do the DD and just follow the charts.
hmm price could rise alot then. Best time to buy now?
Well I don't know. I haven't seen anything about when they are going to do the ICO.
Your posts are always interesting! Love to read it @ alao
This is such a good post. I hope many countries start thinking this way. This is so liberating. Estonia is good in terms of technology . It is worth investing in this ico. What r ur view on some good ico like ongsocial enginma. I wud like ur views on this
onG going to be a game changer! ๐๐ป
Estonia is so progressive- I love it!
And I agree, onG Coin is the hot new upcoming project :)
i heard good things about ongcoin too. working platform and backed by IBM... just sayin :)
Sounds doge
You mean sounds dodgy?
We have the same at Kazakhstan, read here:
https://steemit.com/ico/@gamal65/ico-from-kazakhstan-cryptocurrency-confirmed-by-the-gold
hi @alao Good I really like your post
What do you like about it?
im from Estonia and its just speculation for now, we dont know will we have Estcoin or not :( but ye we developed skype and many others app , so estonia can be first in technology things for sure
I'm hoping that president of yours give the EU the middle finger and moves forward with this.
do we have any date for ICO?
Not yet but i will be following up this post with more info that i found.
I wonder if this is the one I've been hearing about. Any idea when their ICO starts?
That's something of interest... @alao