Venezuela

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Recent Venezuela Blockchain Stories

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....

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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,...

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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...

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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’...

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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...

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