The Isle of Man, known by few and inhabited by even fewer (~80,000 people) is becoming a cryptocurrency haven. A crown dependency, not part of the EU, not part of the UK, but of Britain. Tucked away in the middle of the Irish ocean, between England, Ireland, Scotland and Wales, this quiet Island has a reputation for being a hub for finance, e-gaming, motorbike racing, and more recently cryptocurrency.
The Isle of Man attracts finance, e-gaming, and cryptocurrency due to our Government. The fact is, these companies benefit hugely by being able to get legislation and regulations passed much faster than anywhere else. These sectors make up a colossal % of the Islands GDP, without them the Island would be much worse off (which really annoys some of the locals).
It's been strange living here as someone who's interested in crypto, because the 90% of the general public haven't heard of Bitcoin at all, yet many articles have dubbed us "Bitcoin Island". This is due to a small, but powerful community centered around our capital, Douglas. Douglas houses companies such as CoinCorner, a Bitcoin Exchange that uses the Island as a base to expand throughout Europe. There are only a handful of shops that accept Bitcoin on the Island so far, and the crypto world is still discreet. It's tricky to get your foot in the door, but once you do, it opens up a world with some big players, and the people you meet have their fingers in a surprising amount of pies throughout Bitcoin and cryptocurrency as a whole. There's a lot of money here that many people have no idea about, but that is changing. I am increasingly being asked if I've heard of Bitcoin, and that the Island is become well known for it, and have been able to get many people using and interested in it.
Legislation has been passed that requires **all cryptocurrency businesses on the island **to register with our government and submit to inspection by its financial regulator. This has attracted over 25 cryptocurrency startups to the Island, and shows that our Government has grabbed this new technology by the horns and really wants to help create a future for Bitcoin on the Island.
The island itself fantastic place to visit, hosting the biggest bike race in the world (The Isle of Man TT), huge amounts of tourist sites around the Island, fantastic beaches, brilliant accomodation, and an absolutely gorgeous countryside. We're also one of the best places in Britain to see the stars, with 26 official "dark sky sites" scattered around the Island, and we're the only place in Britain where (on a good day), you can see England, Scotland, Ireland, and Wales from one point! I can honestly say that it is a truly phenomenal place to live, and I'm lucky to be able to be here. I highly recommend looking at flights over!
I hope to continue to watch and help the cryptocurrency scene on the Island grow, and would definitely encourage you guys to visit! I truly believe that the Isle of Man has the potential to truly become the "Bitcoin Island" in full, with companies becoming more aware of it, the day will soon come where you can live purely off cryptocurrency here, with no need for FIAT.