Cryptocurrency developers have created a digital coin that allows traders to bet on the coronavirus epidemic. The new cryptocurrency called CoronaCoin directly depends on the incidence of and mortality from the Covid-19 coronavirus.
The total amount of CoronaCoins corresponds to the population of the Earth. But as the disease spreads and morbidity and mortality increase, developers will reduce the number of “tokens.” Adjustments are planned to be made every 48 hours based on data from the World Health Organization.
As of March 3, 2020, the number of recorded people infected with coronavirus around the world exceeded 90 thousand; the number of deaths exceeded 3 thousand people. Moreover, more than 45 thousand people have successfully recovered. The CoronaCoin blockchain is making documentation of the virus spread as well as keeps track of tokens, which you can buy and sell on some online exchanges.
According to the authors of the project, some people believe that as a result of the coronavirus spread and an increase in the number of deaths, most of the initial crypto coins will be burned. Therefore, they invest in CoronaCoin in the hope that the cryptocurrency’s value will increase.
It is noted that the coronavirus cryptocurrency development team includes seven people. Most of them are located in Europe. The authors intend to send 20% of the proceeds from the distribution of CoronaCoin to the Red Cross Fund.
Many Reddit users have criticized this cryptocurrency project, calling it immoral. At the same time, the authors do not agree with such conclusions.