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Updated 21:44 26/09/20

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Will Iceland embrace the first national digital currency?

Victoria Hewitt-Marsh, News Editor
25 Mar 2014, 10:35 a.m.

Auroracoin, the world’s first national digital currency, is to be distributed to Iceland’s population later this week. The distribution process, which has been nicknamed airdrop, will initially circulate 50% of the total coins mined.

To claim the digital currency, each resident will have to register their national ID number on the Auroracoin website. once launched, it will be the fourth biggest cryptocurrency by market capitalization.

Auroracoin was specifically designed to give the Icelandic population an alternative form of money to the Krona. Only time will tell how the currency will be received. Initial reports suggest most Icelanders are unaware of the launch.

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