Copy link
Increase text size
Decrease text size
Link copied

Cryptocurrency developers create a new digital coin inspired by Corona virus’ deaths

Image by 70023venus2009 from Flickr

Tue, 03 Mar 2020, 00:23 am UTC

Cryptocurrency developers are creating a new digital coin that will allow traders to bet on the coronavirus epidemic based on the death toll, Reuters reported.

Called the “CoronaCoin,” the supply will decrease every two days depending on the rate of the new cases suggesting that its value will increase the more people die from the COVID-19 virus.

The total supply of the CoronaCoin is reportedly based on the world population and the tokens will be burnt after every 48 hours based on the numbers who have been infected or died.

Coronavirus epidemic has become global. The World Health Organization (WHO) has reported 82,000 individuals being infected with the virus with over 2,700 deaths in China and 57 deaths in 46 other countries.

“Some people speculate a large portion of the supply will be burned due to the spread of the virus, so they invest,” Sunny Kemp, one of the users who also identified himself as one of the developers, said in a chat on the messaging app Telegram.

Kemp added that the team behind the CoronaCoin included seven developers and more are coming on board to join them. He declined to name the other developers but said that most of them were located in Europe.

The transactions are recorded using blockchain technology. The CoronaCoin blockchain documents the spread of the virus and users can buy and sell the digital coin on online exchanges including Saturn.Network.

Kemp added that 20 percent of supply will be allocated for Red Cross as they will be making a monthly donation to the non-government organization. They will make the donation using a popular cryptocurrency payments processor. However, despite the developers’ good intentions, many criticized CoronaCoin saying that it was “tasteless” and “amoral.”

When Kemp was asked about his opinion about the token which many considered as “morbid,” but the developer disagreed.

“There are currently active pandemic bonds issued by the WHO. How is that different?” Kemp responded.

Meanwhile, Coronavirus is among the factors that affect the drop of bitcoin’s value. Last week, bitcoin’s price dropped below $9,400 and it was reportedly due to coronavirus fears and overbought conditions.

TokenPost | [email protected]

<Copyright © TokenPost. All Rights Reserved. >

To leave a comment, please sign in.
  • Moses
  • 2020.05.02 20:45:11
I am a cryptocurrency trader and i make over 200% daily, If you are interested,i can teach you how to trade and also help you achieve your goal in life with crypto i can turn
$4500 into $35000 in less then four weeks,now that bitcoin has low prices...please note that cryptocurrency trading is bitcoin unlike binary and Forex,bitcoin is traded for altcoins also you can reach to me if you are new to bitcoin and to give you more info and guideline on how to invest smartly, this is opportunity life time knocking on your door inbox me for more info....contact me on whatsapp :+12067425358 happy new year to you all .
  • 0
  • ·
  • 0
  • frostty
  • 2020.03.03 23:14:43
I got scammed by 53 Capital Trade, broker Helen Kinski. Only lost £7000 which is minimal compared to what others lost after reading this column, But what I have just found out which is worse that my personal details like my bank account, card numbers, phone and passport details have all been sold on the black market. This is a heads up to everyone else to change your details immediately after you realised you’ve been scammed because the after effects are on-going.
I am in touch with a Charge back company trying to recover my funds you can contact me if you need their service don’t forget they have our details try to change every thing.
I couldn’t make any withdrawals. Binary options is a big lie Have you ever made a successful withdrawal, they took all my savings I am took them up, there are others with the same fate. I forwarded info on the trading company to a charge back service, i got my money.
contact : [email protected]
WHATSAPP: +14079061584
TEXT +14079061584
Promised a recommendation
  • 0
  • ·
  • 0
More
  • Bitcoin (BTC) $9,273.79 (+0.29%)
  • Ethereum (ETH) $241.13 (+0.51%)
  • XRP (XRP) $0.224600 (+0.84%)
  • Bitcoin Cash (BCH) $237.64 (+0.03%)
  • Bitcoin SV (BSV) $185.48 (+1.80%)
  • Bitcoin (BTC) $9,273.79 (+0.29%)
Feb 21, 2020 (Friday)
12:01
Paxos launches blockchain-based securities settlement solution with Credit Suisse and Instinet
12:00
Brazil to launch new payment system in response to cryptocurrencies
11:59
Digital currency exchange Coinbase Pro lists Kyber Network token
11:57
Norwegian Air to soon start accepting crypto payments
10:21
Swedish central bank begins CBDC pilot with Accenture
09:51
Italian soccer team Juventus launches ethereum-based digital collectibles with Sorare
Feb 20, 2020 (Thursday)
14:16
Telecom companies complete cross-carrier mobile payments using blockchain
11:53
National Stock Exchange of Australia to develop DLT-based digital securities trading platform
11:00
South Korean ICO project discontinued, to return $7.5M to token holders
10:36
Samsung maintains crypto support in soon-to-launch Galaxy S20
09:41
BIS appoints Innovation Hub heads to lead Singapore and Switzerland
09:15
Coinbase becomes first crypto company to receive Visa principal membership
08:59
Dubai Economy and six banks launch KYC Blockchain Consortium
08:26
Crypto Technicals: ETH/USD under downside pressure after 'Bearish Engulfing' pattern
07:12
Tim Draper buys $1M worth of Aragon Tokens to create digital courts for DAOs
06:13
Renewable energy firm Acciona commits to take CBI’s blockchain-based carbon credits trading platform global
05:02
Crypto Technicals: BTC/USD trades below 21-EMA, break below 4H 200 MA (9386) to trigger further downside
04:56
Crypto exchange Coinfloor to launch a simplified bitcoin buying service
04:35
Indonesia’s customs department joins IBM- Maersk blockchain shipping platform “TradeLens”
Feb 19, 2020 (Wednesday)
12:46
Crypto custodian BitGo acquires digital securities startup Harbor
Subscribe to the TokenPost newsletter!
Don't show me this again today.
Back to top
Copyright ⓒ TokenPost. All Rights Reserved.
PUBLISHsoft