After CoronaCoin, launched last month, a new cryptocurrency now backed with toilet paper has been issued.
A software developer from Munich has issued a cryptocurrency backed by toilet paper as a response to the global toilet paper crisis that emerged with fear of coronavirus.
The crypto money called Toilet Paper Coin (TPC) is defined as “global digital money for hard times”. According to the statement, TPC is supported by an ERC-20 token in the Ethereum block chain and physical 3-layer quality toilet papers.
Also in the statement, “TPC is a safe haven in times of financial uncertainty, although it certainly cannot be considered a stable cryptocurrency due to the volatility of the underlying asset.” It said.
— Viljami Kuosmanen (@anttiviljami) March 14, 2020
Each token can be exchanged for real-life 3-layer toilet paper with the transfer of tokens to a smart contract connected to the Amazon e-commerce API. 1 TPC is stated to be equivalent to a 3-ply or 500-sheet roll of toilet paper.
Another cryptocurrency called “CoronaCoin” was created last month after the appearance of the coronavirus. Technically indexed to coronavirus, the supply of this cryptocurrency is reduced the more the virus spreads. So far, 115,534 tokens have been burned out of supply.