http://www.bbc.com/news/world-latin-america-42217798BBC reports Venezuela is moving to Petro coin to fix economy. Will this help? Will it hinder things? Will it bring negative light to crypto? First country to go totally crypto?
Personally, I see more inflation and Petro failing terribly.
They are doing this in order to avoid taking responsibility by the devaluation of their fiat, they could back their fiat with gold and all that other stuff like oil and call it a day, but since that will mean admitting their mistakes they are creating a crypto for it, but at the end is not going to work since they are going to keep printing more of it until they print it to oblivion.