/Concerns mount as Venezuela closes in on petro, an oil-backed cryptocurrency

Concerns mount as Venezuela closes in on petro, an oil-backed cryptocurrency



A cryptocurrency backed by oil would be a big first. A cryptocurrency backed by a sovereign government would be even bigger. But while Venezuela claims it is going to do both very soon with the petro, experts are doubtful the country has the capabilities or the characteristics to achieve its goal.

Source: Concerns mount as Venezuela closes in on petro, an oil-backed cryptocurrency