From October 2020 to December 2021, Eesti Pank ran an experiment to investigate the technological possibilities of a CBDC based on blockchain. [48]  • Eesti Pank and the Bun­des­bank are jointly responsible for coordinating the data aspects in the Eurosystem’s digital euro project. • A delegation from the Bun­des­bank visited Estonia when we launched our digitalisation strategy in 2018.
Nevertheless, like many other countries, Estonia is facing challenges: As we speak, Estonia is experiencing one of the highest inflation rates in the euro area – it is expected to average above 10% in 2022. [49] The economy is projected to grow strongly this year, by over 9%. [50] Yet, high inflation and high economic uncertainty put a strain on the Estonian economy.