Pirate Party Iceland
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Update: Iceland’s Pirate Party and What Could Happen for Bitcoin

Avatar Guest Author 3 years ago

Iceland’s Pirate Party was the subject of several news bulletins regarding its run in last Saturday’s elections. Granted the party achieved major success, members of the group would make up nearly a third of the parliamentary seats.

The elections have come and gone, and while many consider the Pirate Party to be the subject of shortcomings, the organization has still managed to achieve success in an otherwise biased election. The Pirates have earned a total of 14.5 percent of parliamentary control. This brings their number of seats from three to ten. It’s not exactly what members had been reaching for, but it’s considered a prominent start to a new beginning.

Party leader Birgitta Jonsdottir spoke of the results with an air of optimism:

“Our internal predictions showed 10 to 15 percent, so this at the top of the range… We knew that we would never get 30 percent.”

Newly-elected Pirate lawmaker Smari McCarthy also expressed her enthusiasm for the outcome:

“It would have been nice to get more MPs, to get a higher percentage, but considering everything, this is still a magnificent victory for us.”

Members of the party often tout Iceland as being the subject of high-end, financial corruption. The country has never fully recovered from the Great Recession, and the prime minster was linked to the Panama Papers scandal early this year, inherently leading to a voluntary resignation. The Pirate Party pushes for true democracy, and labels the notions behind central banking as the instigator of on-going monetary crime within Iceland’s borders.

Granted the Pirate Party is able to further its agenda, speculators shouldn’t be surprised if traditional banking methods in Iceland become extinct, and bitcoin and related cryptocurrencies become prominent. Some even claim that Iceland could become the first country to register bitcoin as a national currency, marking the first step in a long journey for the coin which could not only bring independence and financial services to otherwise unbanked citizens, but offer them a level of privacy they’ve long been denied.

Either way, as the Pirates weave their way into Iceland’s policies, it’s likely native residents will see massive changes to the way their country manages money.

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