In This Episode
Iceland is a small country doing big things in fintech, but also in healthtech, renewable energy, gaming, and the ocean-based blue economy. Few countries fared worse during the 2008 global economic crisis, which had a profound impact on the country’s financial system, currency, and overall economy. The economy gradually recovered, and by the 2010s, Iceland experienced steady economic growth. Today Iceland has a high standard of living. Its citizens enjoy access to quality healthcare and education with a relatively low level of income inequality, and it is the global leader in diversity, equity, and inclusion. JP Nicols visited Reykjavik to meet with some of the people innovating to drive these outcomes, including the country’s First Lady who is proud of her country’s achievements, yet declares that “good enough, is not good enough”.
Read the entire transcript here.
Podcast Content:
Chapter 1: [00:00] Welcome to Iceland
Brett King introduces the episode from Reykjavik, highlighting the TCI Global Conference and the unique challenges and opportunities in Iceland.
Chapter 2: [05:20] Iceland’s Innovation Story
A historical perspective on Iceland’s evolution from cod fishing to a diversified economy driven by innovation in the blue economy and beyond.
Chapter 3: [15:45] Lessons from the 2008 Crisis
Reflections on how the financial collapse reshaped Iceland’s banking system, fostering resilience and growth in fintech innovation.
Chapter 4: [25:10] The Fintech Cluster at Groska
A deep dive into Reykjavik’s fintech hub, featuring Gunnlaugur Jónsson’s insights on fostering collaboration in Iceland’s small but vibrant ecosystem.
Chapter 5: [38:20] Blockchain Innovation in Iceland
Sven Valfoss discusses Monerium’s pioneering efforts in issuing fiat on blockchain and bridging the gap between Web3 and traditional finance.
Chapter 6: [50:45] Combating Financial Crime with AI
Insights from Lucidity on how generative AI and privacy-enhancing technologies are revolutionizing anti-money laundering and fraud detection.
Chapter 7: [01:05:30] Health Tech Meets the Blue Economy
Exploring innovative health tech solutions like Kerasys, Iceland’s first unicorn, and its groundbreaking use of fish skin in medical applications.
Chapter 8: [01:18:10] Diversity and Inclusion in Icelandic Tech
Highlighting initiatives like the Nordic Women in Tech Awards and the innovative DEI platforms of Pay Analytics and Alda.
Chapter 9: [01:32:00] Bridging Gaps and Building Futures
Reflections on Iceland’s role as a bridge between industries, cultures, and geographies, creating a global model for innovation and collaboration.
Chapter 10: [01:45:00] Closing Notes from the Land of Fire and Ice
Brett shares final thoughts on Iceland’s unique spirit of collaboration and innovation, and his experience with Icelandic culture and hospitality.
