General information about Auraráð in English

Auraráð is an Icelandic foundation that was created 29th of March 2015 by a group of Icelandic people that all share the same vision of the positive impact that Auroracoin can have on the Icelandic economy. The foundation is intended to focus mainly on the development and adoption of Auroracoin in Iceland and anyone with an Icelandic social ID can join the foundation.


The foundation’s main roles are:

  • Support the development of Auroracoin and it’s infrastructure.

  • Be an official representative for Auroracoin in Iceland.

  • Manage and organise marketing campaigns for Auroracoin in Iceland.

  • To educate the Icelandic public about Auroracoin and the blockchain technology.


The foundation got a donation of million and one aur from the coins creator Baldur Fryggjar Óðinsson. We have decided to call this donation the M1 fund. The M1 fund will be used to support the development and adoption of Auoracoin in Iceland. A plan for how this fund will be used is in the making and we will publish it shortly. That plan will show how we intend to handle and secure the funds along with how it will be distributed between the various roles the foundation has.