Icelandic Bitcoin Pirates

Note from the CEO: Ahoy, Matey! Pirates raid Iceland…………….to do good. Iceland has an election this weekend and the Pirate Party may gain inroads which could make the island nation a world trend setter. Like, Bitcoin could become legal tender. An EU nation with a forward thinking political group. Modern Pirates rock.

While the big Election Day in the United States is not too far away, Iceland’s voters will go to the polls over the weekend on October 29. A newcomer in the race, known as the Pirate Party, has the possibility to upset traditional politics through its stances on copyright law, direct democracy, and by nullifying the Icelandic Foreign Exchange Act, making Bitcoin legal tender in Iceland. Given Iceland was one of the only places to jail misbehaving bankers following the Global Financial Crisis, the country’s new political leaders should be a boon to Bitcoin adoption.

The sudden polls are due to the resignation of Prime Minister Sigmunder Davíð Gunnlaugsson, who stepped down after the Panama Papers scandal. Recent polls suggest that Pirate Party, founded by activists and hackers, is in second place, with anywhere from 21 to 22.5 percent of the vote. They are open to forming a coalition as well if it comes down to that.

With Iceland suffering so much political and economic turmoil in recent past years under both left- and right-leaning parties, it creates a unique situation to where Pirate Party has, for once, a legitimate chance of winning the elections.

If elected, Iceland could be a radically different country than it is now. Bitcoin and the underlying blockchain technology could be used in numerous applications that could benefit the citizens of Iceland as well as support the Pirate Party’s agenda.

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