Blockchain News, Events and Companies
Amidst hyperinflation, a leadership crisis, and international interference, Venezuela’s crisis has come to represent the failings of modern finance and highlights how cryptocurrency could reshape it. Venezuela’s economy has been in a downward spiral... 5 min read →
Venezuela, located in the heartland of Latin America, is one of the most oil-rich countries in the world. Its annual oil barrel output rivals that of countries such as Saudi Arabia and Canada, with... 4 min read →
![CEO of Dash: Cryptocurrency More Than a Bolivar Hedge, It’s a Way to Survive in Venezuela [Interview]](https://cryptoslate.com/wp-content/themes/cryptoslate-2017/imgresize/xtimthumb.php,qsrc=https,3A,_,_cryptoslate.com,_wp-content,_uploads,_2019,_02,_dash-venezuela-ceo-thumb.jpg,aw=200,ah=200,aq=75.pagespeed.ic.WF7lJ3c9ME.jpg)
Dash CEO, Ryan Taylor, says a few factors saw them enter the Venezuelan market three years ago, but the political situation has made their cryptocurrency a critical survival tool for many in the beleaguered... 4 min read →
Eugenia Alcalá, the CEO of Dash Venezuela, issued a statement following embezzlement accusations against Dash Merchant Venezuela, a separate Dash-funded organization. Some in the community are still outraged. Meanwhile, the CEO apologized for delays... 3 min read →
Hyperinflation in Venezuela is estimated to have reached a boggling 1.3 million percent in 2018. To reconcile runaway prices, the wealthy and the technologically savvy have turned to the stock market and cryptocurrency. Venezuela’s... 3 min read →
Venezuelans have taken to Bitcoin for liberation as the country struggles with runaway inflation. The transition serves as a testament to BTC’s core value. Venezuela is in economic ruin. Corruption, a collapsing oil industry,... 2 min read →
Allegations that Venezuela’s Petro cryptocurrency is all hot air hasn’t stopped President Nicolas Maduro from announcing a special exchange period for the Petro, and that he’ll be presenting it to the Organization of the... 2 min read →
The Venezuelan government announced via Twitter on Monday that its controversial Petro cryptocurrency is now on sale to residents of the country via the official government portal. #Enterate || El Petro podrá ser adquirido... 2 min read →
The thousands of people trying to get out of Venezuela will soon have another hurdle in their path: the inability to buy a passport without enough of the country’s new cryptocurrency Petro. Thousands Trying... 2 min read →
On Monday, Oct. 1, Venezuelan President Nicolas Maduro announced the official launch of the country’s official cryptocurrency, called Petro, alongside the release of the Spanish-language white paper for the coin. From #05Nov, Venezuelans will... 2 min read →
The term “government-issued” cryptocurrency is paradoxical. The core tenets of cryptocurrencies — decentralized ledgers and trustless cryptographic payment clearance — are antithetical to government control over value transfer. Officially sanctioned government issued cryptocurrencies are... 2 min read →
The cryptocurrency situation in Venezuela received a push on Tuesday, Aug. 14, after President Nicolás Maduro announced that the state-issued Petro token is legally a unit-of-account in the crisis-stricken country, ABC International reports. Maduro’s Giant... 2 min read →
Initially revealed on August 2, 2018, several Venezuelan Coinbase users abruptly lost the ability to withdraw or send cryptocurrency, prompting speculation that the exchange may have its hands tied by US-Venezuela sanctions. Purportedly, Venezuela-based... 2 min read →
The advice from Wences Casares to those wanting to be a millionaire is to take 1% of what you own, buy Bitcoin, then wait 5-10 years. That way, according to the CEO of Bitcoin storage... 4 min read →
In the midst of Venezuela’s ongoing economic crisis, President Nicolas Maduro has taken yet another controversial step to promote the nation’s very own blockchain-based cryptocurrency, Petro, by offering the Indian government a 30% discount... 3 min read →
As per Venezuelan newspaper, the Official Gazette, all government institutions are now required to accept Petro as legal tender. The proclamation was made official on April 9 by President Nicolás Maduro and gives all... 2 min read →
Donald Trump is the first sitting United States President to place a ban on a cryptocurrency. The White House announced on Monday that Trump issued an executive order banning all transactions of any digital... 2 min read →
On the 3rd of December 2017, controversial Venezuelan President Nicolás Maduro announced a surprising new initiative aimed at addressing Venezuela’s economic turmoil — the development of a state-backed cryptocurrency called the “Petro.” The announcement... 8 min read →
The once prosperous country of Venezuela has been struggling. We first heard about it in the crypto space when Venezuelans started mining Bitcoin owing to the country’s subsidized electricity costs. For Bitcoin’s miners, getting... 3 min read →
Does dumping your entire life savings into cryptocurrencies sound like a smart idea? For some people in countries where hyperinflation is out of control, this has been the only way to secure their life... 3 min read →