For several weeks now, the main topic in the media has been the coronavirus, which has contributed to the deaths of over 2 thousand people in China. China is fighting not only against the epidemic, but also against image and economic losses. On the other hand, the disease has become a source of income for some. It turns out that not only manufacturers of protective masks, but also cryptic investors earn money on coronavirus.
CoronaCoin – a new cryptocurrency
The trade in cryptocurrencies i.e. digital money that is created and stored in electronic form, has been operating for over 10 years. The first Bitcoin (BTC) was created in 2008, followed by other cryptocurrencies. The creators are computer scientists from all over the world, and digital money has become a liquid means of exchange.
It was followed by other cryptocurrencies and one of the newest ones is related to the tragic coronavirus. It is CoronaCoin (NCOV), whose supply was based on the world population. This means that there is one CoronaCoin per person. However, what surprised investors was the idea of the creators of the NCOV, who stated that they would update the status of units once every 48 hours based on the number of victims and the number of people infected with the virus.
Profit from the virus
The developers’ findings mean that the spread of the epidemic will contribute to investors’ profits. It is controversial, so it has been announced that some of these funds will be donated to the Red Cross to fight the coronavirus. However, no details of this aid were given.
The stock exchange in the face of the epidemic
Among the ten most important exchanges in the world, three are present in China: Shanghai, Shenzhen, Hong Kong. In addition, they are growing very fast globally, and the stock market in China is the second largest in the world (after the USA). The epidemic has contributed to the slowdown of the Chinese economy. There are opinions that global GDP growth may decrease by 0.3 points, even though it will remain at 3%.
China’s GDP growth in 2019 remained at 6%, the lowest rate in 30 years. Thus, it is a long way from the excellent result of 2010, when growth was at 10%. The coronavirus has effectively hampered the recovery plan.
Further victims of the coronavirus
The National Health Commission of China reported on Wednesday that the number of victims was 2004. However, a further 136 people died during the last day. Most of the deaths were reported to have occurred in Wuhan, where the epidemic broke out in late 2019. In Hubei Province, where Wuhan is located, the number of deaths is 1921.
In addition, further cases of infection were reported. The number of people infected with the coronavirus increased to 74,185, including 61,682 in Hubei Province. The coronavirus epidemic, which causes life-threatening pneumonia, spread to about 30 countries and reached Europe. Apart from mainland China, three deaths occurred in Hong Kong, Japan and the Philippines.