Should nation states create their own crypto currencies to circumvent the crippling dept imposed upon them by the Western banking cartels? Would the nation state mine or pre-nine the coins? Would there be a mechanism for inflation my allowing an infinite number to be mined? Would the common people be able to mine the coins? Would a portion be given outright to the people?
Today I was checking in with coinmarketcap.com and to my surprise noticed a new crypto called Auroracoin (AUR). I followed the link to the official www.auroracoin.org page and was very intrigued by the following:
Auroracoin is a crypto currency for Iceland. It is based on litecoin and is 50% premined. The premined coins will be distributed to the entire population of Iceland, commencing on midnight 25th of March 2014.
The website is an awesome read and a incredible idea. Make sure to check it out!