New Cryptocurrency Lets Icelanders Take Back Their Financial System
Pre-mined coins will be publicly "airdropped" in Iceland on March 25.
Digital currencies can make for fast and hassle-free transactions in mainstream retail, but does this medium have the power to replace a government's financial institutions? Developed by Baldur Friggjar Odinsson, Auroracoin is a litecoin-based cyptocurrency that could offer a solution to Iceland's financial instability.
These pre-mined coins will be “airdropped” to the entire population of Iceland on March 25. The aim of this one-time event is to notify people of its presence and possibilities. According to Odinsson, each one of the country's 330,000 citizens will have claims to 31.8 Auroracoins. To secure said coins, citizens will use their national ID to verify their identity.