No matter what, betting on someone’s death sounds horrible. And that’s precisely what CoronaCoin is all about. Recently, the cryptocurrency developers have created a digital coin that lets users earn winnings on their predictions over the number of people who die or fall ill due to Corona virus.
Looks like an episode from Black Mirror, right?
The cryptocurrency supply is based on the world’s population and diminishes every two days based on the rate of new cases. Meaning, the price will rise as fatalities from the virus increases.
According to the World Health Organisation (WHO), Corona Virus, also known as COVID 19, has infected around 87,000 people worldwide, with more than 2600 deaths in China and 50 deaths in 46 other countries. So far, 87,000 tokens have been burned!
Sunny Kemp (a user who identified himself as one of the developers) in a chat on Telegram said:
“Some people speculate a large portion of the supply will be burned due to the spread of the virus, so they invest,”
According to Kemp, the team comprised of seven developers with more coming on board as the day passes by. He further said that most of them are located in Europe.
Kemp also added:
“Some people speculate a large portion of the supply will be burned due to the spread of the virus, so they invest.”
However, the saving grace here is that 20% of the tokens (20%) have been set aside for donation to Red Cross to fund relief efforts. The website also claims to be the world’s first crypto-backed by “Proof of Death.”
Main image picture credits: Shutterstock/Soni’s
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