CoronaCoin: The Cryptocurrency Based on the Coronavirus

85,000 infected. More than 2,900 dead. Economic instability. Emergency measures and quarantine processes that multiply. In just over two months, the Coronavirus COVID-19 left the world upside down. Containing the advance of the disease and developing a vaccine as quickly as possible are the experts' priorities, but the public has other ideas... that are occasionally considered in bad taste. One of them is CoronaCoin, a brand-new cryptocurrency that adopts the number of infected and dead as parameters to establish its value.

Cryptocurrencies have given rise to all kinds of developments. Not going too far, even a meme found a way to make its way into that particular market, although the leading coins remain the same as always. In recent hours, all of them register a downward trend, and the new responsible for that Flight-to-quality (something that also happened in the conventional stock market) is the Coronavirus COVID-19. However, the disease didn't come to the cryptocurrency world only to inject concern, but to become one of them. Ladies and gentlemen... CoronaCoin.

The official announcement appeared on the EthTrader subreddit a couple of weeks ago, but the media started talking about the coin in recent hours. Its technical data reveals that the availability of CoronaCoins is identical to the human population (7,604,953,650 NCOV). Every 48 hours, the tokens will be 'burned' depending on the number of infected and dead, so CoronaCoin has a deflationary profile, and there will be no new coins in the future.

In other words, the idea is to 'bet' that the number of dead and infected continues to grow. One of its developers, who identifies himself as Sunny Kemp, explains that some people speculate with the burning of a large number of tokens, increasing their value. Kemp also confirmed that 20 percent of the token availability will be allocated for monthly donations to the Red Cross.

Logically, not a few called CoronaCoin 'in bad taste' and 'immoral', but Kemp's defense is that the World Bank already did something similar. The so-called 'pandemic bonds' were issued in 2017 after the Ebola outbreak, and in a way work as insurance. When there are no pandemics everyone can make money, but if there is an outbreak, the idea is that a good part of the investment returns to fight it. What happened? They lost more than 50 percent of their value, and experts warned that their mechanism 'is useless'.

The current value of CoronaCoin is one cent of a dollar.

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