Our advantages
2008Blockchain first used in Estonia
| World leading expertise in strategic, technical and operational aspects of Blockchain. | |
| Daily utilisation of distributed systems, electronic ID and smart contracts. | |
| Ability to seamlessly integrate Blockchain into everyday processes and services. | |
| Proven benefits for all stakeholders from application of Blockchain technologies. | |
| Estonian Blockchain solutions attract global clients, awards and funding. |
Overview
Estonia’s journey to becoming the world’s most digitally enabled nation began decades ago when visionaries committed to IT as a country strategy and conceived X-Road, the decentralised, distributed information system on which e-Estonia runs.
Launched in 2001, X-Road has processed over 2.3 billion transactions since. Blockchain-based protection of data, e-services and devices began in 2008 and has operated at scale since 2012.
Today state services ranging from tax to e-Health plus private sector service providers utilise the system. Blockchain usage is invisible to users yet the benefits are proven, ultra-high security, data immutability and 800 years of time savings annually.
With such unique proof of concept, it is unsurprising that Estonia is at the forefront of the emerging Blockchain economy.
Guardtime (read more), the world’s largest Blockchain company, was born and continues to have significant operations in Estonia. Guardtime’s KSI Blockchain is utilised by clients including Verizon, the US and Thai governments, Lockheed Martin and Ericsson. Application of the technology increases rapidly and Guardtime has created the world’s first Blockchain platform of marine insurance in partnership with EY, Møller-Maersk, Willis Towers Watson, Microsoft and others.
Blockchain innovation is high across a range of sectors where security and immutability at scale are critical. In FinTech NASDAQ has completed successful trials of Blockchain-based shareholder voting in Estonia and Funderbeam’s Blockchain-based capital market attracts global investment. A growing list of governments trusts Estonian consulting expertise and solutions to protect their operations.
Web3
Estonia is changing the world by being the global leader in the digital revolution. This includes Web3, which is a new version of the World Wide Web, based on Blockchain. As a new concept, Web3 has received different opinions regarding its positive and negative effects due to decentralisation. On the one hand, there might be risks related to privacy and harmful content, but on the other hand, Web3 may help with data security and privacy. The technology of Web3 incorporates solutions that are known from the crypto field – decentralisation and token economy.
Web3 aims to take the advantage of AI, machine learning, and Blockchain to develop the online world in a way that everyone can control their data and online self.
Estonia has by now already several companies that develop Metaverse-related solutions regarding avatars, Blockchain, and Web3 (NFTPort, WOLF3D, Futuclass, Veriff, Glia, etc.).
Through its determination, hard work, and modernisation, Estonia has evolved itself into a thriving and digitally advanced community that businesses and investors can trust. By devoting time and effort to developing its digital services rather than relying on other large companies, Estonia has become a self-sufficient state with continual growth underway. Rapid progress in Web3 is just one way Estonia shows its passion to be the first in being one step ahead in the 21st century.
Case studies
Success stories in the Estonian Blockchain industry include:
Funderbeam, Guardtime (read more), chckout.com, the Republic of Estonia, and others.
