Unlike blockchain-pilots that are currently testing many companies, the digital currency issued by the Central Bank, yet not get such wide distribution. On the contrary — more and more countries announce that the establishment of CBDC is not in their immediate plans.
Recently they joined the ranks of Estonia. But although at the national level to issue digital currency in the Baltic country does not plan, she might still find application.
Recall that in 2014 this country has established smart card “electronic residency,” which last summer became mandatory for all residents. With its help citizens get access to government services and foreign businessmen can do business in Estonia.
In this system, “e-residents”, the government was going to introduce the Euro provided a token called Estcoin, which was supposed to make this offer even more attractive for people around the world. Originally it was planned that the new currency will be available to all citizens.
However, the President of the European Central Bank (ECB), Mario Draghi (Mario Draghi), this idea is not supported. During a press conference held in September last year in the German city of Frankfurt am main, one of the journalists asked what he thinks the management of monetary policy on the circulation of cryptocurrencies which is going to encourage the Estonian government. Draghi’s response was very concise:
“No state, a member of the Eurozone, cannot introduce its own currency; the Euro currency is the Euro” .
The Chairman of the ECB, agrees the head of the Bank of Estonia Ardo Hansson (Ardo Hansson), which spoke negatively about the “misleading” reports on Estcoin.
But despite the disapproval of high-ranking officials may Estcoin still appear. According to Bloomberg, the author of the idea Estcoin Chorus Caspar (Kaspar Korjus) confirmed that the token continues to be developed. However, it will not be a national digital currency, but can serve as a community “e-residents”.
It is worth noting that the Estonian program “e-resident” is very popular, and digital identity has already received 35,000. However, when its members will be able to use the private token is not yet known.