Sweden allows for an incorporation using ONLY Bitcoin

These are some exciting times. For the first time in Sweden a company has been created with no fiat capital whatsoever.

Sweden has a requirement of 50 000sek(approx 5000EUR) in starting capital order to register a limited corporation in the House of Companies(Bolagsverket).
In a historical turn, a blockchain startup has been permitted to use a bitcoin account – as opposed to a traditional bank account – as a way to prove its liquidity and incorporate domestically.
The company is an investment firm specializing in iranian businesses trading on the Tehran Stock exchange. They originally took the pitch to the traditional banks in order to setup their account and guess what-all banks rejected it. (Surprise?)

The plan for the investment firm is to use bitcoin and other cryptocurrencies will in order to send funds to Iran, where they will be converted to the native rial and used to invest in publicly traded companies.

For several years now Iran has been under heavy sanctions by the west and much of the iranian export has been crippled.
Iran has huge riches in terms of natural resources, a highly skilled, technologiclly trained and educated population, plus with a demographics with about 70% of the population under the age of 30.
This is most probably a win-win situation for both parties. Looking forward to see how that develops.

As ususal, blockhain and bitcoin saved the day and paves the way for opportunities, collaborations and innovations beyond goverments, bank and borders:)

Source:
https://www.tasnimnews.com/en/news/2017/04/13/1377825/swedish-gov-t-authorizes-firm-to-invest-in-iran-through-bitcoins
http://www.coindesk.com/sweden-incorporates-iran-investment-firm-using-only-bitcoin/

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