Posts Tagged ‘cryptocurrency’

Ethereum founder Vitalik Buterin has a keen interest in Estonia’s development as a digital nation and has provided valuable feedback for the estcoin proposal.

He believes estcoins could be used to incentivise investors to support the success of a country in a way that is not currently possible through existing means of raising international finance.
“An ICO within the e-Residency ecosystem would create a strong incentive alignment between e-residents and this fund, and beyond the economic aspect makes the e-residents feel like more of a community since there are more things they can do together,” says Buterin.

“Additionally if these estcoins are issued on top of a blockchain (they could possibly be issued in multiple formats at the same time, nothing wrong with this) then it would become easy and convenient to use them inside of smart contracts and other applications.”

Source: Estonia could offer ‘estcoins’ to e-residents – e-Residency Blog | Medium

The IRS states in the documentation that it’s using the software to “trace the movement of money through the bitcoin economy,” going on to explain:

“This is necessary to identify and obtain evidence on individuals using bitcoin to either launder money or conceal income as part of tax fraud or other Federal crimes.”

Source: The IRS Has Been Using Bitcoin Tracking Software Since 2015 – CoinDesk