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There's a new party interested in initial coin offerings (ICOs): global governments. This time, though, they aren’t just out to warn citizens or regulate the new mechanism. Instead, at least one progressive government is considering whether it can take advantage of the technology. The Baltic nation of Estonia made a splash last month proposing a government-supported token – the "estcoin" – as an extension of its e-Residency program. As detailed in a blog post that quickly vent viral, the proceeds would be used to create a type of public-private sovereign wealth fund that would invest in Estonian digital infrastructure projects and technology startups. ADVERTISEMENT The idea won equal praise and derision, getting lambasted by European Central Bank president Mario Draghi. During his regular press conference, Draghi commented on Estonia's bid: " No member state can introduce its own currency; the currency of the euro zone is the euro.