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Latest Venezuela Blockchain News

Venezuelan Government Offers India a 30% Discount on Crude Oil, However, There’s a Catch

Venezuelan Government Offers India a 30% Discount on Crude Oil, However, There’s a Catch

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 on crude oil prices ‘if’ the Southeast Asian nation agrees to make the exchange via Petro tokens.

Is it Ethical to Invest in the Petro? A Close Look at Venezuela’s New Cryptocurrency

Is it Ethical to Invest in the Petro? A Close Look at Venezuela’s New Cryptocurrency

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 sparked international debate on the political, legal, and economic implications of the move.