Estonia`s E-Residency Blockchain Empire
In 2011 Estonia was the poorest country in the Eurozone. Seven years later Estonia has a booming economy as a result of creating an attractive business environment to welcome global block chain and crypto currency organizations and register company in Estonia.
The country features low taxes and cheap electricity making operational costs low.
In 2014, as a part of the country`s digitization project, the government implemented an e-residency program. This allows non-Estonians to access certain government services with a smart card, whichcan be used to sign documents. Their e-residency registration program offers startups freedom to easily start and manage an international business compliant with local taxes and banking regulations.
The country`s business registration is one of the quickest in the world allowing newbusinesses to enter markets with limited capital.
Direct opposition from legal operators can be a difficult problem for most block chainstartups. Estonia`s regulators are approachable and maintain open communication with businesses, facilitating the cooperation between the multiple
parties. If the business abides by the country`s rules,
then regulators will be quick to help themset up their operations.
Countries all over the world should look to
Estonia as a model example on how to welcome future innovation.