Venezuela launches new virtual currency “Petro”
Venezuelan President Nicolas Maduro launched a crypto-currency “Petro” to advance issues of monetary sovereignty, make financial transactions and overcome the financial blockade. Beside this, Petro will also circumvent US-led financial sanctions. The digital currency will be backed by Venezuelan reserves of gold, oil, gas and diamonds.
Topics: Countries , Crisis in Venezuela , cryptocurrencies , Economy , Foreign involvement in the Venezuelan presidential crisis , Hyperinflation in Venezuela , In Venezuela , Nicolás Maduro , Petro , Politics , Venezuela