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.
cryptocerrency must be supported with technology needed, we know venezuela is a country that is degraded its economy, i think like gambling, want to restore economy without solid foundation
Man, what Im seeing is the highest level of stupidity coming from a whole country. How can a country be talking about going all in on cryptocurrency. How many people do you think has access to the internet and how many do you think are interested in it? There are people who cant even get fiat not to talk of cryptocurrencies that are difficult to handle. And by the way, if they choose to make use of cryptocurrencies instead of fiat they will be cutting themselves out from the world, cause they will have no banks. Even if they do have banks that operates with cryptocurrencies, other countries are not interested in such.