HashCash Consultants to Launch ‘Corona Fund Index Cryptocurrency’
HashCash Consultants plans to launch the most recent crypto asset promising revenue potential amid the atrophying international financial system and coronavirus disaster.
The press launch describes the cryptocurrency as being inversely correlated to the S&P 500 by “the backing of an inverse-exchange-traded fund (ETF).”
CFIX might be paired in opposition to Tether (USDT) and is slated for launch on April 2.
90% of CFIX earnings might be donated to ‘Corona Aid Fund’
The agency claims 90% of commerce charges derived from CFIX might be diverted to its Corona Aid Fund — which purports to donate to “varied non-profits and organizations which might be actively combating the worldwide pandemic disaster.”
As such, Hashcash’s web site states that the general mission of the challenge is “to stop the depletion of assets required for the event of superior therapies, vaccines, and medicines.”
The agency is accepting functions from non-profits, and doesn’t seem to have the names of any accomplice charities listed on its web site.
In accordance with HashCash Consultants CEO, Raj Chowdhury, CFIX’s growth was motivated by the agency’s “goal to offer monetary support to nonprofits and analysis organizations battling the COVID-19 disaster.”
“The ETF backing incentivizes CFIX, which advantages not solely the merchants however allows us to lift extra funds for all who’re affected by Novel Coronavirus, which is the last word aim of this initiative,” Chowdhury added.
Controversial CoronaCoin guarantees income as pandemic worsens
On Feb. 12, builders from 4Chan launched ‘CoronaCoin’ (NCOV) — an ERC-20 token with a provide similar to the world’s inhabitants that can bear a burn each 48 hours primarily based on the variety of COVID-19 infections and fatalities.
Regardless of the claims of NCOV’s builders, the value of CoronaCoin is down 83% in 30 days, and misplaced 20% from simply $16,244 in quantity over the previous 24 hours.
Cointelegraph reached out to HashCash Consultants and didn’t obtain a response as of press time.