Will Venezuela be able to solve part of its economic problems by introducing this new cryptocurrency, the petro?
A new cryptocurrency won’t solve Venezuela’s economic crisis … As the oil price has dropped, the country has found itself unable to keep up with debts … The petro would helpVenezuela “advance in issues of monetary sovereignty, … That’s part of what makes them so attractive to criminals – any payments…….
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.