Care home chain launches their own cryptocurrency

03 April 2019 – The Week

A care home chain has launched a bitcoin-inspired cryptocurrency designed to let residents pay for their rooms without having to worry about carrying cash.

Under the scheme, created by care services firm Carlauren Group, residents can buy “C-Coins” at a rate of £70 each, the price of one night in a Carlauren care home or resort, separate from the costs of care.

The company guarantees to buy back coins at £63 each, to avoid the usual risks associated with investing in a cryptocurrency.

Source

Ed. Call me a sceptic but this seems like a dangerous move.

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