Estonia, which is considered the digital laboratory of Europe, wanted to launch a national virtual currency that would have been managed by the state.
Considering the country's e-resident programme that allows anyone to become a virtual resident of the country and launch a new Estonian company, it would have made sense to have a unified currency (the e-resident programme is open to everyone worldwide).
Unfortunately, but also quite understandably, ECB (European Central Bank)'s president commented on the initiative by saying: "no member state can introduce its own currency. The currency of the euro zone is the euro".
We'll be waiting for Estonia's reaction to this, as they're currently gathering feedback online about the "estcoin".
Exciting times!
Indeed!
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