Estonia rolled back its plan to establish a national cryptocurrency Estcoin following criticism from the President of the European Central Bank, Mario Draghi, and local banking authorities.
The managing director of the Estonian e-residency program, Kaspar Korjus, proposed the development and issuance of Estcoin in August last year. Along with becoming Estonia’s national virtual currency, Estcoin would ostensibly evolve into the official currency for the country’s e-residency program. In the program Estcoin would serve as an incentive for foreigners who use Estonia’s electronic identification to remotely sign documents and found companies.
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The Netherlands’ Land Registry is expected to test blockchain technology for national real estate data.
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Koen Huisstede, an enterprise architect at the Land Registry, has said that the institution is seeking to understand what the “relatively new” technology means for the property sphere, and expects a blockchain solution will be integrated into its system “within one to three years.”
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Binance, one of the world’s largest cryptocurrency exchanges, has announced it is launching a $1 billion “Social Impact Fund” to foster the growth of blockchain and cryptocurrency startups.
Ella Zhang, head of the exchange’s incubator program Binance Labs said that the capital for the fund will be coming from Binance’s own reserves as a way to contribute to the industry ecosystem.
Binance will pour in the $1 billion over 10 phases of $100 million each and, in essence, will create a combination of a fund of funds (a fund that invests in other funds) and a direct fund that invests in blockchain projects.
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