Crypto for care homes – really?

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Thought the crypto-currency and blockchain craze had light away?

Think once more.

In recent weeks, messages regarding all varieties of schemes involving making new coins and exploiting the wondrous blockchain technology have popped into my inbox.

The most outre of all was from a corporation getting to get residents of upscale care homes to purchase their rooms employing a new crypto-currency.
Carlauren cluster, that describes itself because the “UK’s leading innovator” of care services, was making what it referred to as the C-Coin.

In the email’s next paragraph the thrill mounted: “This breakthrough blockchain technology can give all residents at Carlauren’s manner Resorts and Care Homes with a secure and secure currency, while conjointly removing the fear that is related to carrying cash”.

‘Special risks’
The theme involves residents shopping for C-Coins for £70 every, the worth of 1 night during a Carlauren care home or resort, break free the prices of care. the corporate says the bizarre factor regarding the coins is that it’ll invariably guarantee to shop for them back at £63, therefore the risk of finance in any crypto-currency is essentially avoided.

This is painted as Associate in Nursing innovative method of permitting well-off old individuals Associate in Nursingd their youngsters to speculate in their space for the long run – a sort of timeshare theme which might then be tradable as a result of the coins can be oversubscribed on an exchange.

“I needed to crystallize the payment of the area for the predictable future,” Carlauren’s chief govt Sean Murray explained to ME. He made public a membership theme whereby residents UN agency were presently paying between £1,250 and £1,500 every week would get their space with the tokens, Associate in Nursingd it’d be an plus for his or her youngsters once they died.

“We see a chance with relations that square measure clearly showing wisdom attentive to what is happening within the crypto-market – that has Associate in Nursing intrinsic worth.”

But for that intrinsic worth to exist, the C-Coin should be hospitable external investors through Associate in Nursing Initial Coin providing or ICO. Carlauren is supplying five hundred,000 coins raising £35m, though man Murray insists that his firm has no ought to raise funds.

There is a Carlauren Coins Exchange and a written report you’ll be able to transfer choked with purple prose regarding the wonders of blockchain technology – “arguably the most important age since the internet” – although with very little detail regarding what role it plays here.

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