A team of Icelandic cryptocurrency enthusiasts is gearing up to launch an altcoin designed specifically for the population of Iceland.
Auroracoin is a litecoin-based digital currency, 50% of which is pre-mined. This is where it gets interesting: the pre-mined coins will be distributed to the entire populace of Iceland starting on 25th March. Each one of the country’s 330,000 citizens will receive 31.8 auroracoins.
Why Iceland?
Iceland’s banking sector does not have a very good track record, and this appears to be the driving factor behind auroracoin. The team cites the government’s use of strict capital controls following the collapse of the local banking sector in 2008.
February 05, 2014 at 10:30AM
