The crypto industry in Iceland is “making strides” but has yet to reach its full potential, and several advantages — including those offered by its unique geography — have yet to be maximized.
In response to the crisis, the Icelandic government instituted capital controls, restricting the movement of the Icelandic króna, the national currency. “It never became like a big currency or anything,” says Gislason, “But they actually airdropped this currency to all the Icelandic people and everyone who was interested. They could just claim their tokens. And some of the people managed to transfer it into Bitcoin.”
“We are a little bit behind, but we are making strides to get Iceland on the map and get the investor base familiar with it,” said Gislason.Iceland certainly does not lag when it comes to renewable power. The country lies at the convergence of the Eurasian and North American tectonic plates, making it some of Earth’s most geologically active terrain.
Viska Digital Assets is very familiar with Iceland’s mining industry. Three of its founders are also involved with Greenblocks, a separate Bitcoin mining firm operating in a joint venture partnership with the U.S. miners BitDigital. But while there is huge potential for Bitcoin miners in Iceland, there are also challenges that need to be overcome.
“The first criteria is, of course, investing in tokens with sufficient liquidity so we can actually move around without affecting the price,” he says. “And another criteria is focusing on what sectors of the market we find most interesting. There, the technology aspect of the team comes in handy.”