To finance these operations the Auroracoin Foundation / IBF sold a big part of the M1 fund a few months back. The funds have been used for the re-branding, salaries for the CEO, meetups, office expense and events here in Iceland and will financially secure future operations of the foundation.
It is our hope that the work we are doing and the means we have chosen to use the funds will have the greatest impact for the greater good of crypto/blockchain and Auroracoin in Iceland.
So the foundation:
- Ditched the Auroracoin brand
- Sold the vast majority its Auroracoins
- Repurposed the proceeds to fund things not directly related to the coin
Let's face it. You guys abandoned the project.
During the last 3-4 years I think only
one person in Iceland has shown interest to help the Auroracoin cause. Excluding this one person no one else has reached out and asked what can I do to help Auroracoin.
Since the re-branding we have hundreds of people showing interest in crypto in Iceland. We are rallying them together under one banner to solve the 3 major problems the Auroracoin foundation aimed to resolve.
- Resolve the issue of legality of crypto in Iceland
- Educate people on crypto in general
- Get merchant adoption of crypto going in Iceland
These 3 tasks have always been the major goals of the Auroracoin foundation and are now the goals of the IBF.