Petro: Venezuela’s attempt at a cryptocurrency
Jorge Galavis – Venezuela has plans to offer a new cryptocurrency called ‘Petro’ as early as February 20, 2018. The proposal for Petro describes a cryptocurrency that is backed by the country’s large oil reserves.[1] Nicolas Maduro, the president of Venezuela, intends to issue 100 million Petros corresponding to 100 million barrels of oil.[2] During the […]