Petro : Cryptocurrency of Venezuela

December 12, 2017

 

  • 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.

 

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