As I scoured the international business news that has been getting the most attention lately, I came across an article about Venezuela. This country has had a tough economy lately and has been heavily impacted by it. It has over $150 billion in foreign debts and has been struggling through inflation for many years. Venezuela has caught the attention of our various news sources because they have decided to "launch a cryptocurrency" to combat all of these hardships. It's purpose is also to offset the U.S. sanctions that have been put on Venezuela. The government of Venezuela hopes this will solve it's issues, but most are doubtful.
http://www.bbc.com/news/business-43133853
Derric, The story you wrote a month ago is evolving....maybe! It seems that Russia may have its hands substantially in the creation of the Venezuelan 'Petro' (the cryptocurrency you mention above). Read this from Cryptocurrency News: https://www.ccn.com/russian-official-denies-his-countrys-role-in-venezuelas-petro-currency/
ReplyDelete