Eesti Pank found a blockchain-based solution could support an almost unlimited numbers of payments being processed at the same time.
The mass license revocation still leaves around 400 virtual currency service providers (VASPs) licensed in Estonia, according to the finance ministry.
How the firm helping lead Estonia's central bank digital currency research is approaching a mass-market crypto coin.
Eesti Pank said the initiative will gauge the suitability of the KSI Blockchain, already used within the country's e-government system, in supporting a central bank digital currency.
The Baltic nation of Estonia has revealed more concrete plans for the launch of its own digital token, dubbed "estcoin."
Rather than issuing warnings or regulations, at least one progressive government is considering whether it can take advantage of ICO technology.
Exchange operator Nasdaq has come to some positive conclusions about a blockchain e-voting trial it conducted in Estonia last year.
Swedish telecom company Ericsson has been pursuing applications of blockchain in a bid to secure cloud-based data.
The Estonian Supreme Court has ruled in favor of new restrictions on bitcoin trading in the wake of a lawsuit filed by a bitcoin broker.
Guardtime is to deploy a blockchain system to secure over 1 million patient records within Estonia's eHealth programme.
Stock market giant Nasdaq has announced it is developing a shareholder voting system based on blockchain tech.
The Estonian Supreme Court has asked the country’s government to provide clarity in an ongoing court case involving bitcoin trading.
The Estonian central bank has denied that the country’s banking system relies on the use of a blockchain to secure information.