Will Venezuela be able to solve part of its economic problems by introducing this new cryptocurrency, the petro?
this would not help in the crisis since the Peto cryptocurrency will only be used in Venezuela, not outside it for trading with other countries. if somehow Venezuela makes its cryptocurrency stable and acceptable worldwide then I am sure it would help.
Venezuela is a good reservoir of petroleum but the cost of extraction is very high there.
No. Neither the crypto nor the likes of it won’t address the crisis in Veniz at the moment. All it needs the remedial measure from the administrator that could restore the stability in the zooming hyperinflation plagued the state’s economy. Crypto may seem alluring to certain parts of the world but it’s detrimental drug to the crisis-ridden countries and going for such odd tool is total weird!
If we are talking about the introduction of cryptocurrency on a national scale, then this will be useful only for the purpose of getting rid of corruption. The technology of blockchain will change the world, but not now. Now, this is only a good tool for customer service, but no more. For example, modern online casinos (like a playtech review) use this to expand the reach of customers and allow the client to simplify the rules for entering the game, since he does not need to enter his personal data, but only the purse number of the cryptocurrency.