Everyone in Iceland to own cryptocurrency

auroracoinThe cryptocurrency craze that started with Bitcoin is not over. The latest altcoin to enter the market, Auroracoin, wants to take the futurist trend back to its cryptoanarchist roots.

The altcoin was designed specifically for Iceland, and the creator plans to give every citizen of the Nordic country a digital handful of Auroracoins to kickstart their use.

Auroracoin is the brainchild of cryptocurrency enthusiast Baldur Friggjar Odinsson, and he’ll be the one distributing pre-mined coins to the entire population of Iceland at midnight on March 25 in a countrywide “airdrop.”

Each Icelandic citizen—all 330,000 of them—will receive 31.8 AUC through a digital transaction. Citizens all have a national ID number available through a public database, which will be used to verify their identity.

“So I intend to leverage this system so everyone has a chance to verify their ID and get their share of Auroracoins. For most, it will be as easy as logging onto Facebook,” Odinsson told me. “People will have (at least) a year to claim their coins.”

The meaning of this rune symbol is ‘cattle’, a vital aspect of the life of any agricultural community and an important factor in the economy of a group of peoples initially unacquainted with the use of money. The rune represents possessions won or earned and thus also material gain.

Source: Motherboard/praag