{{Use dmy dates|date=March 2023}} {{Short description|Estonian proposed cryptocurrency}}'''Estcoin''' was a 2017 proposal for a national cryptocurrency tied to Estonia's e-residency program.<ref>{{Cite web|last=Korjus|first=Kaspar|date=3 January 2018|title=Three ways how estcoin could benefit Estonians and its e-residents|url=https://estonianworld.com/opinion/three-ways-estcoin-benefit-estonians-e-residents/|access-date=2021-11-03|website=Estonian World|language=en-GB}}</ref><ref>{{cite journal |url=https://venturebeat.com/2017/12/19/estonia-wants-its-own-cryptocurrency-called-estcoin-in-bid-to-become-global-ico-hub/ |title=Estonia planning its own cryptocurrency, called 'estcoin', in bid to become global ICO hub |author=Chris O'Brien |date=19 December 2017 |journal=VentureBeat |access-date=19 February 2018 |quote= |archive-date=19 December 2017 |archive-url=https://web.archive.org/web/20171219095407/https://venturebeat.com/2017/12/19/estonia-wants-its-own-cryptocurrency-called-estcoin-in-bid-to-become-global-ico-hub/ |url-status=dead }}</ref><ref>{{cite journal |url=https://www.reuters.com/article/us-bitcoin-estonia-estcoin/estonias-tech-guru-outlines-ideas-for-digital-estcoin-idUSKBN1ED1E6 |title=Estonia's tech guru outlines ideas for digital 'estcoin' |author=Francesco Canepa |date=19 December 2017 |journal=Reuters |access-date=19 February 2018 |quote=}}</ref><ref>{{Cite web|last=Ворона|first=Тимур|date=25 January 2018|title=Что такое Estcoin и как его можно применять {{!}} MC.today|url=https://mc.today/estoniya-pytaetsya-stat-luchshej-ploshhadkoj-dlya-ico-chto-takoe-estcoin-i-kak-ego-mozhno-primenyat/|access-date=2021-11-03|website=mc.today|language=ru-RU}}</ref><ref name="World Finance">{{cite web |last1=Darrah |first1=Kim |title=Estonia pushes ahead in race to issue first state-backed cryptocurrency |url=https://www.worldfinance.com/markets/estonia-pushes-ahead-in-race-to-issue-first-state-backed-cryptocurrency |website=World Finance |accessdate=7 October 2018 |date=23 April 2018}}</ref> The plan was criticized by the European Central Bank President Mario Draghi, who said "no member state can introduce its own currency".<ref>{{cite web |last1=Ummelas |first1=Ott |title=Estonia Scales Down Plan to Create National Cryptocurrency |url=https://www.bloomberg.com/news/articles/2018-06-01/estonia-curbs-cryptocurrency-plan-that-drew-rebuke-from-draghi?srnd=cryptocurriences |website=Bloomberg |accessdate=7 October 2018 |date=1 June 2018}}</ref> In 2018, the Estonian government clarified it was not planning to launch a national cryptocurrency and that it never planned to do so, but would plan to "explore various possibilities" for blockchain technology.<ref>{{Cite web|last=Browne|first=Ryan|date=4 June 2018|title=Estonia says it won't issue a national cryptocurrency and never planned to|url=https://www.cnbc.com/2018/06/04/estonia-wont-issue-national-cryptocurrency-estcoin-never-planned-to.html|access-date=2021-11-03|website=CNBC|language=en}}</ref> ==History== Discussions about Estcoin emerged in 2017 amid the rapid growth of cryptocurrencies and initial coin offerings (ICOs). The concept was raised in connection with Estonia's e-Residency programme, which had attracted a growing international user base and prompted debate about the use of blockchain-based tokens in public digital services.<ref>{{cite web |last=Patricolo |first=Claudia |date=27 August 2017 |title=Estcoin: Estonia's Own Digital Currency? |url=https://emerging-europe.com/analysis/estcoin-estonias-own-digital-currency/ |access-date=30 December 2025 |website=Beyond Emerging Europe}}</ref><ref>{{cite web |last=Korjus |first=Kaspar |title=Estonia could offer 'estcoins' to e-residents |url=https://medium.com/@kaspar.korjus/estonia-could-offer-estcoins-to-e-residents-a3a5a5d3c894 |website=Medium |date=22 August 2017 |access-date=30 December 2025}}</ref>
Early commentary described Estcoin as a proposed blockchain-based token linked to digital identity or participation in the e-Residency ecosystem, rather than as a sovereign currency.<ref>{{cite web |title=Estland is Planning to Launch Estcoin — and that's only the Start |url=https://fintechbaltic.com/50/fintechestonia/estland-is-planning-to-launch-estcoin-and-thats-only-the-start/ |website=Fintech Baltic |date=19 December 2017 |access-date=30 December 2025 }}</ref> The proposal received international media attention during broader debates over government experimentation with blockchain technology in the late 2010s.<ref>{{cite web |last=Maack |first=Már Másson |date=23 August 2017 |title=Estonia is looking into starting its own national cryptocurrency |url=https://thenextweb.com/news/estonia-could-be-the-first-country-with-an-official-cryptocoin |archive-url=https://web.archive.org/web/20240725095816/https://thenextweb.com/news/estonia-could-be-the-first-country-with-an-official-cryptocoin |archive-date=25 July 2024 |access-date=30 December 2025 |website=The Next Web}}</ref><ref>{{cite web |last=Polyakova |first=Yuliya |date=2018 |title=Estonian State’s Approach to Cryptocurrency: The Case Study of Estcoin Project |url=https://digikogu.taltech.ee/et/Download/2ba48aae-f10f-4a3e-856b-5981dc92d486 |archive-url=https://web.archive.org/web/20241206203040/https://digikogu.taltech.ee/et/Download/2ba48aae-f10f-4a3e-856b-5981dc92d486 |archive-date=6 December 2024 |access-date=30 December 2025 |website=Tallinn University of Technology Digikogu |format=PDF}}</ref><ref>{{cite web |date=28 January 2018 |title=Estonia makes 'token' effort to take euro crypto |url=https://www.france24.com/en/20180128-estonia-makes-token-effort-take-euro-crypto |archive-url=https://web.archive.org/web/20201109024454/http://www.france24.com/en/20180128-estonia-makes-token-effort-take-euro-crypto |archive-date=9 November 2020 |access-date=30 December 2025 |website=France 24}}</ref>
== Proposed uses == In 2017, commentary on Estcoin outlined several hypothetical use cases linked to Estonia's digital governance infrastructure and e-Residency programme.<ref>{{cite web |last=Galeon |first=Dominic John |date=19 December 2017 |title=Estonia just revealed 3 uses for its proposed national cryptocurrency |url=https://www.vtrader.io/en-us/staking/ethereum |url-status=dead |archive-url=https://web.archive.org/web/20251012074223/https://futurism.com/estonia-revealed-three-uses-proposed-national-cryptocurrency |archive-date=12 October 2025 |access-date=30 December 2025 |website=Futurism}}</ref><ref>{{cite web |last=Sundararajan |first=Sujha |date=19 December 2017 |title=Estonia Inches Closer to National 'Crypto Token' Launch |url=https://www.coindesk.com/markets/2017/12/19/estonia-inches-closer-to-national-crypto-token-launch |archive-url=https://web.archive.org/web/20240812193307/https://www.coindesk.com/markets/2017/12/19/estonia-inches-closer-to-national-crypto-token-launch/ |archive-date=12 August 2024 |access-date=30 December 2025 |website=CoinDesk}}</ref> These proposals focused on non-monetary applications, including incentives for participation in the e-Residency ecosystem, access to digital public services, and regulated fundraising mechanisms inspired by initial coin offerings (ICOs).<ref>{{cite web |date=April 2018 |title=Estonian e-Residency: A Case Study for Business Formation and Practical Blockchain Solutions |url=https://icf.mri.co.jp/wp-content/uploads/2021/06/Kaigaidoko_201804.pdf |archive-url=https://web.archive.org/web/20251115231451/https://icf.mri.co.jp/wp-content/uploads/2021/06/Kaigaidoko_201804.pdf |archive-date=15 November 2025 |access-date=30 December 2025 |website=ICF MRI |publisher=Rapid Access International, Inc |format=PDF}}</ref><ref>{{cite web |title=Estonia planning to launch crypto-tokens to drive growth of the country’s e-resident community |url=https://archive.opengovasia.com/2017/12/22/estonia-planning-to-launch-crypto-tokens-to-drive-growth-of-the-countrys-e-resident-community/ |website=OpenGov Asia |date=22 December 2017 |access-date=30 December 2025}}</ref>
==See also== * e-Residency of Estonia
==References== {{Reflist}}
{{Cryptocurrencies}} {{cryptocurrency-stub}} {{Estonia-stub}}
Category:Cryptocurrencies Category:Internet in Estonia