auroracoinJust what is the measure of a great government? Why, one that takes good care of the people in their midst, of course. We have word that this coming March 24th would see every single registered legal citizen of Iceland to be able to lay claim to a bunch of Auroracoins without having to fork out a single cent. Yes sir, there might be no free lunch in the world these days, but this does not mean that one will no longer be able to claim other free items – what more from the government of the day. Before we proceed, let us define Auroracoins – they happen to be a virtual crypto-currency that is similar to and based on Bitcoin, where the latter has gotten itself into the news recently, too.

How did this particularly zany idea come about? An Icelandic entrepreneur known as Baldur Odinsson believes that distribution of the virtual cash to all 333,000 Icelandic citizens could offer some sort of assistance to restore a semblance of value to the Icelandic currency, better known as the Krona. Why crypto-currency? Well, a previous Icelandic government initiative involved assigning a personal ID number to each Icelandic citizen, where this unique ID number can then be queried via a public database so that Odinsson’s free Auroracoin project will be able to verify the authenticity of each person’s identity, not to mention play the role of Santa. Each Icelandic citizen will receive around 31.8 coins each.

Filed in Computers. Read more about Bitcoin.

Related Articles
User Comments