Estonian central bank to conduct digital currency research

Estonian central bank to conduct digital currency research

They’re following other central banks, including the European Central Bank, into studying virtual currencies. The Estonian central bank, Eesti Pank, announced the launch of a research program to study how to build a digital currency infrastructure.According to a statement, Eesti Pank partnered with technology companies SW7 Group and Guardtime for the research project. It aims to see if a keyless signature infrastructure (KSI) blockchain solution can run its virtual currency program. Estonia already uses KSI blockchain technology for its e-government services. The bank’s project will also....


Related News

Inside the Estonian CBDC Experiment That Could Shape the Digital Euro

How the firm helping lead Estonia's central bank digital currency research is approaching a mass-market crypto coin.

China's Central Bank Will Look To Issue Its Own Digital Currency "as Soon as Possible"

China’s central bank, the People’s Bank of China (PBOC) announced today that it will make the necessary moves to work toward issuing a digital currency, as soon as possible. The PBC has announced in a release today that it intends to launch its own digital currency, following a meeting held in Beijing. The purpose of the meeting was discussed in today’s release by the central bank of the world’s second largest economy. A ‘special’ research team put together by the PBOC was set up as early as 2014 to conduct research and look into all possible regulatory frameworks for the issuance of a....

Digital Euro to Handle ‘Almost Unlimited’ Payments, Estonian Central Bank Say...

A blockchain-based digital euro would be highly scalable allowing it to process an almost unlimited number of payments, the central bank of Estonia has concluded following a recent experiment. Central banks from several euro area countries and the ECB participated in the test, which also professed to show the digital currency’s carbon footprint would be smaller than that of card payments. 300,000 Payments a Second Processed During Digital Euro Trial An experiment carried out as part of the recently launched ‘Investigation Phase’ of the digital euro project has....

Estonian Police Target Bitcoin Trading Site BTC.ee

As the Estonian authorities continue to tighten their grip on the digital currency trade, local bitcoin trading site BTC.ee (not to be confused with BTC-e) has announced via its website that it has "temporarily stopped trading due to threats issued by the Estonian police". The move follows a warning about bitcoin and other virtual currencies issued by a member of Estonia's central bank earlier this year, in which he called bitcoin a "problematic scheme" and said that "virtual currency schemes are an innovation that [deserve] some caution". Otto de Voogd, the site's owner, told local....

Estonian High Court Asks Government to Clarify Bitcoin Stance

The Estonian Supreme Court has asked the country's central bank, two of its civil ministries and its top financial regulator to answers questions related to bitcoin as it considers a case on the legality of the digital currency. The questions focus on the application of anti-money laundering (AML) statutes to bitcoin activities, as well as the broader nature of the financial technology, according to a translation of the court's 19th November decision. Eesti Pank, the Interior and Finance Ministries, and the Estonian Financial Supervision Authority must respond to the court's request by....