It seems that the relationship between the Corona virus and cryptocurrencies is increasing day by day.

While the world is still concerned about the Corona virus, a group of crypto enthusiasts has created a digital currency that allows its owners to benefit from the epidemic.

CoronaCoin is denoted by the symbol “NCOV”, according to what was published on the “CoronaCoin” website.redditIt is an Ethereum-based token that rises in value the more people the virus kills and infects.

According to Sunny Kemp, moderator of CoronaCoin’s Telegram group, it was formed by “programmers and activists at 4Chan,” the controversial forum that helped create the anonymous hacker group Anonymous.

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As Kemp noted:

We have developed the world’s first blockchain that tracks the spread of the virus based on token supply.

The token supply is estimated at $7.6 billion and is burned every two days to keep up with official WHO statistics.

The company’s website promises to donate funds to help efforts to prevent the spread of the virus.

How does Corona Coin work?

The width of the token depends on the world population, where, according to estimates, the world population is 7,604,953.

Every 48 hours, the token is burned to reduce supply in line with reports of the spread of the Corona virus.

This deflationary measure is designed to raise the value of the remaining currencies as more are burned.

The benefit of documenting the spread of the virus in the Ethereum blockchain is that it is uncensored.

The people behind the great firewall can see the real death stats by checking out the private token contract on the Etherscan.io website.

The front page of the website contains an interactive map that collects the total number of infections.

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At the time of writing this article, the death toll from Corona has reached 71,030.

According to Etherscan, there are approximately 600 addresses that have held “CoronaCoin”.

The team took nine days to build the project, and they are currently developing a strategy game that uses the token.

Kemp stated:

We intend to launch bots so that people can post the death toll from the coronavirus on social media.

This will help build public awareness.

A portion of the money raised will be allocated to charities.

This is our goal, to spread awareness and help fight the virus.

For example, we are currently in talks with a biochemist who is developing drugs to combat the virus.

These are the kinds of partnerships we want to build.

Kemp explained that the project has allocated 20% of its profits to registered charities.

Users took an overly Machiavellian approach to the project.

As one user commented:

If someone in my business got the flu two days ago and is now in the hospital with pneumonia that somehow affects their heart and if they die I suggest we add them to the number of infected people.

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Which raises the question of whether it can motivate people to misreport, or worse, encourage its spread.

CoronaCoin moderator PeteWeathers on Discord said:

It’s been brought up before, and we’re aware of that aspect of the project.

We would never advocate for anyone to do such a thing, as it would obviously be morally wrong, and possibly legally wrong.

We believe CoronaToken holders are responsible.

Why was cryptocurrency built versus traditional fundraising?

PeteWeathers stated:

There are a lot of people championing the relief effort, but we thought this would be a good way to raise awareness in a unique and interesting way.

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