> “Venezuela will create a cryptocurrency,” backed by oil, gas, gold and diamond reserves, Maduro said
I am not sure if that’s even possible, it doesn’t make much sense. How do you link the currency to those reserves in a way that is any different to the current currency?
That being said, a crypto which is relatively stable could be very useful for countries with runaway inflation or other issues with the state. Both for local use and liquidity across global markets.
I am not sure if that’s even possible, it doesn’t make much sense. How do you link the currency to those reserves in a way that is any different to the current currency?
That being said, a crypto which is relatively stable could be very useful for countries with runaway inflation or other issues with the state. Both for local use and liquidity across global markets.