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Industry News / Markets

Enter the ‘petro’: Venezuela to launch oil-backed cryptocurrency

Published in Industry News, Markets

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2 Comments

  1. Cryptocurrency is confusing enough. Can someone explain to me how this is any different than a standard currency that’s just digitized? I thought the idea of cryptocurrency was that it was global without the specific ties to one country.

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  2. I read an article a few months back that claimed Venezuela was the most dangerous place to mine for bitcoin, and that many citizens were getting jailed. Interesting and ironic that Venezuela launched their own cryptocurrency.

    Here’s the article I read: https://www.cnbc.com/2017/08/30/venezuela-is-one-of-the-worlds-most-dangerous-places-to-mine-bitcoin.html

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