Business CoronaCoin cryptocurrency allows merchants to enrich themselves with coronavirus...

CoronaCoin cryptocurrency allows merchants to enrich themselves with coronavirus deaths

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A new cryptocurrency will allow buyers to obtain bleak benefits from the number of people who get sick or die from the deadly outbreak of coronavirus.

The Bitcoin-like cryptocurrency, called CoronaCoin, will operate with a morbid and truculent structure: the amount of available currencies, called “tokens,” will decrease and, therefore, increase in value, as more people die of the virus, the currency website reads.

The creators of CoronaCoin established an established number of 7,604,953,650 tokens in the world that represent the estimated population of the Earth.

“As the number of infected / killed by the virus increases, the number of tokens is manually burned every 48 hours,” says the website. “Then, for each infection, a token is burned.”

By Friday night, 85,366 tokens had been burned.

“The fact that the number of tokens decreases over time means that it is deflationary and should become more valuable over time,” says the website. “The supply is not mintable either, so you cannot create new Coronacoins.”

The creators of the coin have tried to market it as a “2019-nCoV relief effort,” the website shows, stating that around 20% of the supply will go to monthly donations to the Red Cross.

The new cryptocurrency, which was launched with a Reddit publication, was created amid a massive recession in the stock market, the worst week since the 2008 financial crisis.

The financial downturn has been attributed to fear of the new coronavirus, which has stifled commercial investments and paralyzed supply chains throughout the world.

The World Health Organization announced Friday that the coronavirus risk alert remains “very high” worldwide, despite CDC efforts to minimize its spread in the United States.

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