A lot has happened since the last newsletter. We gathered the most important news from the last few weeks and highlighted the upcoming events.
Bitcoin breaks $10,000
The historical five-digit milestone has now been reached again. Bitcoin managed to climb to just over $10,000 in February this year, just before COVID-19 started hitting Europe and deflated all the markets. Bitcoin previously reached this milestone in October last year after the news of Chinese President Xi Jinping, saying his country should seize opportunities afforded by blockchain.
Why is $10,000 important? For the first few years of Bitcoin, $10.000 was more like a dream than an actual goal. A self-sovereign asset class with a value of $150bn created on the internet had always seemed like a far fetched reality. Bitcoin has often been called a bubble by many, but somehow keeps on rising from the ashes, and now during the worst deteriorating global outlook in decades. It is time to pause and think about the implications and what the future will bring.
Iceland beats the first wave of Covid-19
Life in Iceland is thankfully thriving again, with the country eliminating the first wave of COVID-19. People are back to their regular routines, which has served as a sorely needed connection to reunite with family and friends. The people of Iceland are very fortunate to live on an island that is easily containable, but the situation is not the same in many neighboring countries. Our hearts go out to countries fighting the full force of the virus and the aftermaths it brings.
We are lining up the next few months, and we plan to host at least one event over the summer. Let us know what type of event you are most excited about!
The FinTech Report is out
The Icelandic Fintech Report released in Q1 2020 highlighted some of the opportunities that Iceland has in the sector. Noteworthy is a profile done on Monerium, an Icelandic company that was the first to issue e-money on blockchains. Kristján Ingi Mikaelsson, the MD of IBF, was interviewed for the report, and he outlined the strengths of Iceland as a hub for FinTech.
Monerium receives a $500k grant from the government of Iceland
The Rannís Government grant fund issued a significant grant for Monerium at the beginning of May. The grant will be used to strengthen development and bring the product to a broader market. The Foundation published an article in Icelandic on the IBF blog: Rafeyrir á bálkakeðju hlýtur styrk Rannís.
IBF Podcast Anniversary
The first episode of our Icelandic podcast aired on the 4th of June 2019, with 29 episodes recorded. The podcast started to seed more education on cryptocurrencies and blockchain opportunities. Still, over the last year, we have interviewed some of the most respected local business leaders and economists. It is excellent to mingle the topics, as we are attracting a broader audience to the cause over time. This is the course we want to follow, with a short pause over the summer. Expect an extensive anniversary episode covering the highlights in the next couple of weeks.
We look forward to seeing you in person at our next event.