This Cryptocurrency Profits Whenever a Person Dies from Coronavirus

February 22, 2020 184

Coronavirus

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A community of developers has built a token that edges up in value whenever someone is infected by the disease and help raise awareness amongst the people.

When the entire world agonizes from coronavirus, a community of crypto enthusiasts has allegedly developed a currency that enables holders to benefit from the epidemic. As per a post on Reddit, CoronaCoin (NCOV) is a token developed on ETH that edge up the value every time the virus affects or kills a person.  As per Sunny Kemp, CEO of CoronaCoin’s Telegram group, this project was developed by “programmers and activists on 4Chan.”

“We developed the world’s first blockchain that tracks the spread of the virus based on it’s [sic] token supply. The token supply started at 7.6 billion and is burned every two days to keep up with official WHO statistics,” said Kemp. The company’s website assures that they’ll donate funds to the Red Cross to help in efforts for stopping the virus to spread.

After 48 hours, the token is burnt to minimize supply in line with reports on the Coronavirus’ spread. The shrinking degree is developed to elevate the value of leftover coins as more are burnt.

“The benefit of documenting the spread of the virus on the Ethereum blockchain is that it is uncensorable. People behind the great firewall can view the real death statistics by checking our token contract on Etherscan.io” stated Kemp.

The group took a time of nine days while accomplishing this project and presently they are building a strategy game that uses the token. “We intend to launch tip bots so people can spread coronavirus on social media. This will help build public awareness,” stated Kemp.

“A portion of funds raised will go to charity. This is our goal, to spread awareness and help fight the virus. For example, we are currently in talks with a biochemist who is working to develop drugs to fight the virus. These are the kinds of partnerships we want to build.”

He described that the project has allotted 20% of its profits to registered charities.

When questioned if this might incite citizens to come up with false reports and eventually encourage the spread, PeteWeathers, the admin on CoronaCoin’s Discord channel stated, “It has been brought up before, and we recognize that aspect of the project. We would never advocate for anyone to do such a thing, obviously. It would be morally, and probably legally, wrong. We believe CoronaToken holders are responsible.”

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Published on February 22, 2020 by Ankit Bansal
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