Quote from: wiser on February 21, 2018, 02:24:36 AM

Quote from: nemwanderer on February 21, 2018, 02:16:52 AM

Quote from: wiser on February 21, 2018, 02:02:18 AM

Quote from: greentea on February 21, 2018, 01:42:44 AM

Quote from: jelin1984 on February 21, 2018, 01:00:46 AM

Prensa Presidencial‏
@PresidencialVen
@PresidencialVen

#FOTO Así sostuvo reunión el Presidente @NicolasMaduro con representantes de la empresa Fundación NEM, previo al lanzamiento de la criptomoneda Petro

NEM AND PETROCOIN TOGETHER Cheesy

Wow! That could be a HUGE boost for NEM! The price could sure use a leg up

This is absolutely terrible, if I'm reading it right. NEM is going to issue and back Venezuela's cryptocurrency? That of an autocratic regime seeking to circumvent sanctions and raise money from foreign investors while letting its people starve?

I don't know that NEM is issuing and backing Venezuela's cryptocurrency, so much as that cryptocurrency *may be* running on the NEM backbone. My understanding is that anyone can code a token to run on the NEM platform. That doesn't necessarily mean it's endorsed by NEM leadership.

I figure a high profile token using NEM is good publicity, even if the people creating the token aren't the best, but I suppose it could be seen as a negative reflection on NEM.

That brings to mind this question: Suppose the issuers of a given token are really bad people, and they run the token off NEM, can the NEM Foundation or NEM leadership actually stop them from doing so? My understanding is the answer is no, but I could be wrong.

I imagine they can, but I don't know.

I can't image Venezuela could have done this without the help of the NEM team though.

This is pretty horrendous in all honesty. Crypto was meant to defeat such regimes, not enable them. This puts NEM in a horrendous light.