A new token launched based on world's population that promises to burn its supply based on world's coronavirus infections. As of this writing, the project called CoronaCoin, has burned 92000 tokens representing 92000 confirmed cases of coronavirus around the globe.
New York Times called it "Cryptocurrency developers have created a digital coin that allows traders to bet on the coronavirus epidemic, based on how many people fall ill or die."
"Now you can buy the dip — in world population," quipped NY Daily News.
Not the first time global crisis is cashed
Before you judge the morbidity of the developers of CoronaCoin, consider this: World Bank issued a $500 million Pandemic Bonds. The institute has been blamed for waiting for people to die. The Guardian reported about The Pandemic Bonds issued by World Bank as “What’s obscene is that the World Bank set it up this way. It waits for people to die.”
Compared to World Bank's Pandemic Bonds, CoronaCoin seems to be more sane since 20% of the proceeds are set to be sent to Red Cross to help with the breakout.
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