ForexMinute.com – The day has finally come when cryptocurrencies will rain over Iceland with a hope to cultivate patriotism. Since its announcement over a month ago, Auroracoin, the first ever nation-based cryptocurrency, is finally and currently being distributed among the 320,000 Icelanders, with each one of them getting around 30 coins holding the value of over $350.
There have been no specific reports that tells that how many citizens have received the coins until this time of writing. But other reports have shown Auroracoin’s official website receiving a large amount of traffic since midnight. The incoming traffic once also incepted a temporary slowdown on the website, tweeted Auroracoin with an apology. Although, they later confirmed that site is currently working smooth enough to allow more people to receive their Auroracoin.
Meanwhile, Twitter is full of posts from people that are excited enough about the alleged future of Auroracoin. Some are hailing it, while others are just denying the possibilities of Auroracoin to be met with equal enthusiasm by global digital currency users.
However, the Auroracoin’s creator Baldur Friggjar Óðinsson is more concerned about taking Icelanders out from a financial prison. According to him, the idea of Auroracoin is to give power back to people, especially in times when it belong to corrupt bureaucrats and special set of elites.
“The Icelandic government and banking system has engaged in frantic money printing in the past, resulting in devaluation of the krona. This has happened at the expense of the common man,” said Baldur in its interview to IB Times.
Baldur’s words factual enough, as Krona has lost 99.5% of its value against the US Dollar in the past five years due to poor monetary policies. With Auroracoin, the country hopes to bring its economy back to a stable state.
Though, nothing can be said that if Auroracoin is a hoax or a symbol of patriotism, but it is indeed a hope for thousands of Icelanders.
To contact the reporter of the story: Yashu Gola at email@example.com