Venezuelans Queue Up at Gas Stations as Maduro’s Latest Fintech Plan Falters

As Venezuelan President Nicolas Maduro starts rolling out major monetary changes, citizens have hit a snag with the new point-of-sale systems at gas pumps, according to a report from Reuters. Long lines gathered at gas stations where drivers were unable to use the payment systems to purchase gas, adding to the list of infrastructure problems caused The post Venezuelans Queue Up at Gas Stations as Maduro’s Latest Fintech Plan Falters appeared first on CCN

Read More

Brookings: Venezuela’s Petro Undermines Legitimate Cryptocurrencies

Brookings Institute analysts recently argued that Venezuela’s oil-backed cryptocurrency, the Petro (PTR), is likelier to harm legitimate cryptocurrencies like Bitcoin and Ethereum, than it is o help Venezuelan’s escape the recession the country is currently enduring. Through an article published on its website, the think tank first noted that Venezuelan President Nicolás Maduro claims the The post Brookings: Venezuela’s Petro Undermines Legitimate Cryptocurrencies appeared first on CCN

Read More

Venezuela’s Petro “May Help the Global Currency System”: Chinese Credit Rating Giant

The post Venezuela’s Petro “May Help the Global Currency System”: Chinese Credit Rating Giant appeared first on CCN Dagong Global Credit Rating, one of China’s biggest credit rating agencies, recently published a report commenting on Venezuela’s oil-backed cryptocurrency, the Petro (PTR). Per the report, the cryptocurrency “may help the global currency system return to its basic value.” While the agency doesn’t assert whether the Petro can help Venezuela’s economy, it points out the The post Venezuela’s Petro “May Help the Global Currency System”: Chinese Credit Rating Giant appeared first on…

Read More

Venezuela Announces New ‘Petro Gold’ Cryptocurrency, One Day After Launching the Petro

The post Venezuela Announces New ‘Petro Gold’ Cryptocurrency, One Day After Launching the Petro appeared first on CCN Venezuelan leader Nicolás Maduro has recently announced that within one week, the county is going to launch a new cryptocurrency, the Petro Gold. The cryptocurrency, according to local news source Telesur, will be backed by precious metals. Notably, Maduro’s announcement was made Wednesday (Feb. 21), one day after Venezuela launched its oil-backed cryptocurrency, the Petro. The post Venezuela Announces New ‘Petro Gold’ Cryptocurrency, One Day After Launching the Petro appeared first on…

Read More

Fake News: Venezuela Rejects “False Information” on Petro Whitepaper

The post Fake News: Venezuela Rejects “False Information” on Petro Whitepaper appeared first on CCN The Venezuelan government has recently stated that “false information” about its oil-backed Petro cryptocurrency has been published online. According to Reuters, the government is rejecting a leaked, allegedly fake, Petro whitepaper. The superintendence of Venezuelan Cryptoassets and Related Activites, bullishly announced late last year by president Nicolás Maduro to “govern” the cryptocurrency and its transactions, The post Fake News: Venezuela Rejects “False Information” on Petro Whitepaper appeared first on CCN

Read More