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Venezuela To Launch Cryptocurrency Called ‘The Petro’, Maduro Declares
Stop the presses - literally in this case.
As you're aware, Venezuela's economy is collapsing. This pitiable spectacle has been a slow motion train wreck for years and it culminated last month in an announcement by President Nicolas Maduro who, on November 2, said he would move to restructure the nation's debt.
Maduro almost immediately moved to put Vice President Tareck El Aissami in charge of the restructuring effort. That was problematic because El Aissami is an OFAC-designated drug t
No laughing matter
This is the future of cryptos – not sure if Venezuela can pull it off but LatAm’s future depends on escaping Dollarization and national cryptos are an important & valid part of that escape strategy
more important is… how do i mine it?
The vast majority of countries located south of the United State could benefit from ADOPTING dollarization. I’ll critique the US Federal Reserve every other hour but the average South American money supply bureaucracy is far less competent than the American one.
http://endthefed.org/t-shirt/