Yay Iceland. This is good news for the world. How often does one get to say that?
I noticed an interesting reaction in myself while reading the article. My first thought was, "Wow, that's rational and a really good idea". That was immediately followed by, "Rats, that means that it will be killed by entrenched interests and lobbyists." Then I thought, "Hey wait a minute, this is Iceland. They're independent enough and intelligent enough to do this if they want to." Iceland appears to be a pissed-off nation that is actually correcting itself and doing things differently. Imagine that.
We trusted them with finance and look what happened, why should we trust them on something that is way more important but also a thing that can be way more lethal when done wrong.
Icelandic legislature and business elite is not to be trusted, certainly not with your human rights, what are these people thinking?
There is a reason for basing your company/data in the US/London and it isn't just that they speak English.