A new cryptocurrency project claims to track the progress of the Coronavirus. A somewhat brief “whitepaper” explains:
“Coronacoin is a cryptocurrency that documents coronavirus infections and deaths on the blockchain with a token burn. A portion of the tokens (20%) has been set aside for donation to the Red Cross to fund relief efforts. Coronacoin is a radical and valuable addition to the rich tapestry of cryptocurrencies that exist today. It is the first and only cryptocurrency backed by proof of death (PoD), based on statistics obtained from the World Health Organisation (WHO).
The way the currency is structured is simple and easy to understand:
- There is a set number of tokens in the world: 7,604,953,650.
- The total number of tokens = the population of the world at the time of minting the tokens.
- As the number of infected/dead from the virus increases, the number of tokens are manually burned every 48 hours. So for every one infection, one token is burned.”
So far, over 85,000 tokens have apparently been burned – representing the number of infections and fatalities. The website claims to be the world’s first crypto backed by “Proof of Death.” I am not kidding. This certainly makes Proof of Stake look rather tame.
If you are interested, there is a Telegram group with more information as to where you can acquire your very own Coronacoin.
There is also a discussion on Reddit. Some people ask the obvious question. Do we really need this?