Iceland is going to get some cryptocurrency. Baldur Friggiar Odinsson, an Icelandic guy who loves altcoins, has created a new form of this cryptocurrency and named it Auroracoin - made specifically for Icelandic folk. And he's giving 31.8 (currently valueless) Auroracoin to every citizen in the country.

“I intend to leverage this system so everyone has a chance to verify their ID and get their share of Auroracoins. For most, it will be as easy as logging onto Facebook," Odinsson told VICE. "People will have (at least) a year to claim their coins."

Iceland's economy isn't doing well, so altcoins might actually be attractive to its citizens.

"People will try out the system, they will send coins and use them for fun, and then they may gradually gain some economic value. People will speculate on the coins and they will have some monetary value of at some point," said Odinsson. "If [it] works in Iceland, I can see similar schemes being employed in other countries with a history of economic mismanagement. I know there is an Irish version of Auroracoin currently in development, and I could see an Argentinian one working as well."

Whether it will work remains to be seen; will the coins actually end up having any value? We can't wait to find out.

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