Venezuela would launch a cryptocurrency to combat a financial blockade by the United States.
A cryptocurrency is a digital asset designed to work as a medium of exchange that uses cryptography to secure its transactions, to control the creation of additional units, and to verify the transfer of assets.
Cryptocurrencies typically are not backed by any government or central banks.
Digital currency is a money balance recorded electronically on a stored-value card or other device. In 2008, bitcoin was introduced, which marked the start of Digital currencies.