I dont know if its really a "scam" coin, but it has a 50% premine and a VERY questionable strategy of giving a coin to everybody in iceland (logistic, legal, and political problems will be a result). I personally think the dev is over his head and this will blow apart. But its an ambitious idea at least.
Edit: Also the market cap is greatly overvalued because only about 100,000 coins are being traded, the rest is off the market.
I understand that what is going on here may seem strange to North American cultures however, anyone who has spent any time with Nordic (Viking) cultures would understand that this may just work.
So far the Dev has morals and lets hope he realizes that this can get to economics books if it works.
Yes, i agree that a premine for a project like this makes sense. I really dont doubt the devs morals either. But the execution of the 2nd phase is what i am questioning. If it works it would be great for the whole crypto community, but it doesnt seem serious unless he has some more institutional backers involved (ie local buisness in Iceland)