Would you invest in Crypto Currency? What about if it helped your religion?
The company Life Change is hoping that you will answer yes. They have produced “Christ Coin” the first Christian cryptocurrency.
Christ Coin will operate in a slightly different manner than other cryptocurrencies. There will be the possibility to earn more coins through acts of charity and religious practice. For example, reading the Bible, volunteering, and joining church events. It is unclear how that will be measured and what exact amount of money will be given.
This is designed to fit the ethics behind the Life Change, LIVES: Leave your mark on the world by supporting humanitarian efforts, Invest in a cryptocurrency, Vault your spiritual life, Earn additional income, Support the vision of your local church through tithes and offerings.
There was another cryptocurrency, Jesus Coin, originally built as a hoax, but it received serious investment. Both of the cryptocurrencies now seem to have potential to gain investment. They also present some unique benefits. One of the advantages is that it would allow transactions between remote regions, allowing more donations and could move money towards charitable works seamlessly. The managing director of the International Monetary Fund stated cryptocurrency has the potential to compete and possibly overcome other types of currency.
There are some problems. First, is the use of money so explicitly related to Christianity. The idea might contradict Jesus’s anger at the infusion of capitalism within religion, “not in my father’s house.” Second, there is not universal agreement about this type of currency. JPMorgan Chase CEO Jamie Dimon criticized it, saying it was shakey and there have not been clear international regulations on it yet, creating unknown risk into the future.
Christ Coin will be crowdfunding until December 1st, where it will hope to become more popular and rivals other cryptocurrencies.