The crypto-currency boom is in full swing. The explosion in price and quantity of new digital tokens is so bonkers even its evangelists are calling the market a ticking time-bomb.
It's also tempting the establishment to get in on the act. For the Republic of Estonia, it's being touted as a way to raise a sovereign wealth fund -- an imaginative leap for a country with a population one-sixth the size of New York City's and one of the highest levels of mobile broadband penetration in the world.
A proposal by Estonia's agency in charge of "e-residency"applications (more on this later) has suggested raising money by selling "estcoins" to the public.
The wealth could then be managed via a public-private partnership; a chunk might be poured into venture capital to support domestic start-ups. Holders of estcoins would have a stake in the fund and a say in how it is run. The tokens might then become a viable currency, so the thinking goes, paying for goods and services in a euro-zone country.
Full story at https://bloom.bg/2wv6rn0
Source: Bloomberg
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