Estonia's Crypto Currency Concept

Estcoins – e-residency Scheme

The anticipation with regards to Estonia’s crypto-currency existing online which are not controlled by any central bank or government has gained new heights since the value of bitcoin had reached above $4,000 (£3,100). Estonia desires to issue its own virtual currency with the support of Ethereum founder Vitalik Buterin.

Estonia which is a country that takes pride on being at the cutting edge of digital technology has been speculating with the idea of a currency known as estcoins which would be connected to its successful e-residency scheme giving foreigners with an opportunity of starting business in the digital identity of Estonia.

The same had been successful wherein Kaspar Korjus Managing director at e-Residency, Enterprise, Estonia and the one in charge of the scheme had disclosed recently that the numbers signing up had crossed the birth-rate of Estonia.

He wished to take advantage of this opportunity of interest by providing e-residents digital tokens which could be utilised when they would access several services or engage in transfers between businesses. He acknowledged that this seems to be a fantastic idea and that it would involve discussions with all kinds of government bodies.

He was of the opinion that the central bank of Estonia could be doubtful with regards to having a complete new currency running beside the euro.
 

Evade Tax/Money Laundering

 
The supporters of crypto-currency could also be cautious of a scheme which tends to run counter to the entire liberal character behind bitcoin together with its followers. Mr Korjus however informs that the government cannot only sit back and watch the new financial technology being implemented. On the contrary rather than attempting in stopping things as usual, government needs to explore ways of regulating and improving systems which would work and which individuals would prefer.

One of the reasons for bringing it in was that crypto-currency can be utilised in evading tax or for money laundering. By securing estcoins to a digital identity, Estonia expects to avoid that issue. Recently, Izabella Kaminska, the special guest of the Financial Times had pointed out that this did not sound different from conventional currency and what would be the need of reinventing the wheel.

The crypto-currency would be launched through the version of crowdfunding of digital coin community which is an initial coin offering – ICO that permits start-ups in raising funds by selling off cryptocoins like bitcoins and ether in exchange for cash. They are said to be identical to initial public offerings – IPOs though tend to differ wherein in dealing with supporters of a project they make the investment more personal.
 

E-Residency Ecosystem – Generating Strong Incentive Alignment

 
The small eastern country is not new to the digital innovation and had been the first country in offering citizens of the world `e-residency’ which is a digital ID for non-Estonians with the provision of access to services such as banking, payment processing together with taxation.

Korjus had mentioned in a blog post that `a government-supported ICO would be giving more people with a bigger stake in the future of the country providing not just investment but also more expertise together with ideas in assisting them to grow exponentially’. Korjus had informed that Vitalik Buterin the founder of the blockchain network Ethereum in 2014, is a strong supporter of the digital innovation of Estonia and has offered feedback on its estcoin proposal.

Buterin had mentioned that `an ICO within the e-residency ecosystem would be generating strong incentive alignment between e-residents and this fund as well as beyond the economic aspects, would make the e-residents feel more of a community as there are more things they could perform together’.
 

Easy & Convenient for Use

 
Buterin had also mentioned in his blog post that besides this, if the crypto-currency is allotted on top of a blockchain, they would probably be issued in numerous formats at the same time, and nothing would be erroneous with this. It would then be easy as well as convenient in utilising them within smart contracts together with the other applications.

Blockchains are said to be distributed legers which tend to function as the foundation for digital coin business deal. Korjus had mentioned that over 22,000 e-residents from `138 countries had signed up for the initiative making a huge contribution to the economy of Estonia.

The President of Estonian, Kersti Kaljulaid, last month had informed that her nation had been the only truly digital society, strengthened by the state. She had mentioned in an article for the Telegraph that nearly all the interactions of the citizens with the government, inclusive of voting could be done securely online and that their e-residents could incorporate as well as run their businesses in Estonia without the need of having to set foot there. She further added that seeing this digital revolution up close has made her query whether the state that they know today is fit for the 21st century.

Flatbed Trucking Facilities

There are excellent service providers offering proficient transport midway equivalent freight for shipper in the form of trucks through partner carrier network. The provider for trucking denver has been catering to transportation service to various industries since 1986 having their focus in forging long-term business relationship which is based on mutual respect and trust. Their company has been constructed on a sturdy foundation of principles and reliability. They tend to operate with shippers as well as carriers from shore to shore with the potentials of resources to transport truck freight all over the U.S. Canada and Mexico.

Their business is mainly directed in offering flatbed trucking facilities and are specialised in truck freight with shipping expertise together with knowledge which is par excellent. Perfect for hauling heavy or bulky industrial freight, which may be huge for a box truck, flatbed trucks tend to be suitable when a loading dock is not available for loading or unloading. The flatbed trucking company has now developed in serving several customers all over North America and has invested in information technology in offering the finest service to their clients, vendors together with carriers.

Modern Operation Software

The foundation of their success is due to being self-critical together with the power of teamwork. They tend to use the modern operation software that enables their employees to process efficiently the route as well as the track flatbed truck orders. Moreover their clients as well as carriers tend to have access through their website to vital information that may berequired with regards to their freight shipments. Being flatbed shipping specialists they tend to manage all sorts of flatbed, stepdeck together with double-drop trailer freight – full trucks load, LTL or partial loads, over-size and over-weight dedicated consignments. Some of the services offered are:

Flatbed and step-deck shipping 

Their core business as well as customers can use the open flatbeds for the purpose of hard to load items, longer items, jobsite deliveries etc. wherein a box trailer does not tend to work. They also ship partial loads or full load all across North America.

Partial Flatbed Loads

Small items can be shipped on open flatbed or step-deck without any charge for full trailer. They are specialized in matching up freight together with other items going in the same direction.

Hot-Shot Services 

They tend to offer hot-shot trucks for smaller necessities which are generally 40’ gooseneck trailers pulled by a 1-ton pick-up truck and can manage several loads which a flatbed is capable of, though it tends to come in a scaled down form.

LTL Van Freight 

They offer volume discounts with many main LTL providers which is economical. The freight can be packaged well to avert damage since these carriers tend to move the freight from one trailer to another all through the trip. If it tends to work, you are at an advantage on saving on the transport.

Van & Refrigerated 

They tend to provide refrigerated service for anything which may need a temperature controlled atmosphere. Besides that they also provide standard box van service for most palletized cargo from port to port all over North America.

How software technology can be leveraged to deliver sustainable GST solutions

Goods & Services Tax – Controversial Topic
The switchover of the Goods and Services tax – GST after being rolled on July 1 by the Government of India, has become a controversial topic for corporate of all denominations. Together with its submission, the same is under microscope leading business to take assistance from technology and tax software providers with the skills in their field of work, the software industries have begun rolling out GST specific products.

 The tools that are provided are being utilised by businesses for enhanced conformity of the newly revised tax regime. With regards to the corporate, companies are having issues of rapid reaction to GST. However, their lack of knowledge together with experience has made it a tiresome job for them in making a choice of which among the various option to exercise, which has resulted in confusion and disorder in the unskilled companies.

Several of them are also not aware with what tax-solution providing software tends to do. These software products are said to be total business management software assisting a company in keeping track of all departments as well as maintaining an account of everything in the business. The following tips are guidelines by Pavan Peechara, director at Udyog Software on how software technology can be leveraged in delivering sustainable GST solution:

1. HSN – An Interesting Feature 

A tool to offer a supportable GST solution should comprise of the HSN loop up feature wherein this type of feature enables the user to navigate products with a HSN code via a HSN lookup. This is turn assists in simple identification as well as categorizing of business together with their goods or services.

2. Cost Effectiveness for Enhanced Efficiency 

Similar to most of the software, the GST software needs to also facilitate cost effectiveness by offering the users with an economical cost quotation which tends to take more care of the complete cost effectiveness of implementation and meeting submissions.

3. Easy billing through automated filing 

Software providing HSN look up tends to make it simple for calculating tax classification and percentage of it which needs to be levied mechanically. Features such as these tend to make it easy in processing bills thus reducing human errors.

4. User friendly software guarantees optimum adaptation 

One of the most significant characteristics of employing software in a business is the level of user friendliness it provides in its easy operations. The outcome is in quick learning and operational ease and hence the software should be user friendly for easy variation.

5. Filing of complex tax forms with one click

Mechanization features need to be delivered by these software since it reduces the hassle of paperwork together with filing as it is taken care of by direct uploading of online tax filing procedures.

6. Innovation & technology as main organizers 

Technology has been a segment wherein the innovation is its livelihood and tends to be a priority. It tends to go through various R&D in order to outspace the outdating. A company should be aware of adapting to the software which seems best in meeting the requirements of the company and itself. It means that it should be capable of meeting new tax slab incorporation or changing of slabs.

Before the selection of a GST submission solution, one needs to use the time to take stock of one’s business together with its operation