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One of the most important presentations made at the Bitcoin London 2013 conference, which occurred on July 2, was the one made by the Icelandic economist and investor Sveinn Valfells. The expert presented an initially shocking idea: Iceland should abandon the Krona and choose Bitcoin as its new official currency. While most of the people in the Level 39 building were open-mouthed, after a few moments thinking about it, the idea didn’t seem so radical. When you think about it, you see how this could potentially go well for Iceland, if the structure is there, ready to operate. 1970s and 1980s, a time of double-digit, and then triple-digit, inflation.
In Iceland, people liked to build their own houses at the time, but they couldn’t put the money they were saving to build their homes into the bank, because it disappeared. Eventually, the vouchers were accepted and people got used to them. So, why can’t Bitcoin walk the same path? Do you think it’s possible for Iceland to accept Bitcoin as its official currency?
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