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.
I do not think the country is ready. Anyway this is just my opinion but how about the poor? Do they consider them? Crypto coins are volatile and I do not think its good for them to use. For me it is too risky for them.
Venezuelan President Nicolás Maduro has stated the Petro would be backed by Venezuela's oil, gas, gold and diamond wealth. So, it will reduce the volatility. But yeah, the problem is if there is a majority of people lack understanding technology, the coins would hard to use for them. Except the governments made it friendly to use.