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Places Venezuela

Up-to-date coverage on crypto trends, regulations, and innovations from Venezuela

What the Venezuelan crisis teaches us about cryptocurrency privacy

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 for years, with extremely tight capital controls dating back to the early noughties limiting citizens from acquiring foreign currency. The political […]

What the Venezuelan crisis teaches us about cryptocurrency privacy

Dash Venezuela Team Issues a Response to Embezzlement Accusations against Dash Merchant Venezuela

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 in delivering its balance sheet and praised the team for its “positive achievements.” Dash Merchant Venezuela Team Accused of Embezzlement Dash […]

Dash Venezuela Team Issues a Response to Embezzlement Accusations against Dash Merchant Venezuela

Venezuela’s Petro Coin Now on Sale to Residents

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 por personas jurídicas y naturales desde su portal web https://t.co/0ldQe5CTHL #PetroNuevaEraEconómica pic.twitter.com/x2gyoncOVd — Vicepresidencia de Economía (@ViceEconomia) October 29, 2018 An […]

Venezuelan President Nicolas Maduro Announces Launch of Country’s ‘Petro’ Cryptocurrency, Availability Date

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 buy Petros for Bolivar Soberano. They will buy real property, flight tickets, goods, services and save money in our gold, iron, […]

Venezuelan President Nicolas Maduro Announces Launch of Country’s ‘Petro’ Cryptocurrency, Availability Date

The Beginning of the End for Fiat Currency: Government-Issued Crypto Gaining Traction Worldwide

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 increasing in number, however. Sweden, Japan, and Russia have all investigated the benefits of a state-backed crypto, while countries such as […]

Venezuela: Petro Cryptocurrency Becomes National Unit-of-Account

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 Cryptocurrency Experiment Launched in February 2018, the oil-backed cryptocurrency Petro was developed by the Venezuelan government to evade U.S. and European […]