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Esctoin Turned Down: Euro is the Currency for the Euro Zone


Its been a while that Kaspar Korjus Estonian president of the e-residency program gave out the news and idea of a country digital currency to be developed – Estcoin.

When the information met Mario Draghi the president of ECB, he was very clear and on point for the answer and outcome of the whole program:

“No member state can introduce its own currency; the currency of the euro zone is the euro.”

Estcoin – was planned to (if possible) be used as a virtual currency for the country and a way for citizens to notarize virtual documents on a global scale.

The moment that Estcoin could come to application would be a history mark for the cryptocurrency industry, community and state-range adoption. But it seems that, the Eurozone can not allow such a financial function to be enabled and proceed even with its benefits. Together with China’s Initial Coin Offering Ban, the world spread feeling towards regulation related to cryptocurrencies is mixed for the moment but the whole idea of a GOV launching its own virtual currency is on pause for the moment.

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