Venezuela Says Orinoco Crude Will Back New Cryptocurrency

摘要

Venezuela’s government is moving ahead with a plan to create an oil-backed cryptocurrency in an attempt to lessen the impact of US financial sanctions. On Dec. 27, President Nicolas Maduro announced that the government would use the oil reserves of the Orinoco Belt’s Ayacucho-1 Block as the initial backing for the new currency, to be called the “petro."