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Online Biz Is Booming in Estonia 21-04-2003
A crumpled piece of paper taped on the locked door of a bank branch at 125 Parnu Street provides the evidence: Closed. (wired.com)
Banking is actually booming in this former Soviet republic -- via the Internet. The number of Estonians who bank online soared from zero in 1997 to 700,000 this year. That's half the country's 1.4 million people.
Estonia has the most advanced information infrastructure of any formerly communist eastern European state.
Dubbed E-Stonia by some, the country ranked No. 8 out of 82 countries in putting the Net to practical use in a recent World Economic Forum report. The country ranked No. 2 in Internet banking and third in e-government.
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