HashCash Consultants plans to launch the most recent crypto asset promising revenue potential amid the atrophying international financial system a
HashCash Consultants plans to launch the most recent crypto asset promising revenue potential amid the atrophying international financial system and coronavirus disaster.
On March 23, HashCash introduced its upcoming “Corona Fund Index Cryptocurrency” (CFIX), which guarantees merchants the chance to “earn income even throughout corona-crisis induced bear market.”
The press launch describes the cryptocurrency as being inversely correlated to the S&P 500 by way of “the backing of an inverse-exchange-traded fund (ETF).”
CFIX will probably be paired towards Tether (USDT) and is slated for launch on April 2.
90% of CFIX earnings will probably be donated to ‘Corona Aid Fund’
The agency claims 90% of commerce charges derived from CFIX will probably be diverted to its Corona Aid Fund — which purports to donate to “numerous 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 forestall 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 companion charities listed on its web site.
In line with HashCash Consultants CEO, Raj Chowdhury, CFIX’s improvement was motivated by the agency’s “intention to offer monetary help 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 final 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 comparable to the world’s inhabitants that can endure 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.