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Rice University – DIGIT INFO https://www.digit.info Bookmarking Crypto Insights Sun, 28 Jan 2018 13:30:23 +0000 en-US hourly 1 https://wordpress.org/?v=6.9.4 https://www.digit.info/wp-content/uploads/2024/07/cropped-61589-32x32.png Rice University – DIGIT INFO https://www.digit.info 32 32 Why Venezuela’s New National Cryptocurrency El Petro Will Fail https://www.digit.info/why-venezuelas-new-national-cryptocurrency-el-petro-will-fail/ Sun, 28 Jan 2018 13:30:23 +0000 https://www.digit.info/2018/01/28/why-venezuelas-new-national-cryptocurrency-el-petro-will-fail/ Read more]]>

Why Venezuela’s New National Cryptocurrency El Petro Will FailWashington and legacy media are in a tizzy about Venezuela reportedly thwarting international sanctions by way of a dreaded state-backed cryptocurrency. A closer look reveals several stumbling blocks for the Bolivarian Republic: nonexistent reserves, hyperinflation, centralization, and the impossibility of actual redemption. The attempt will fail, if it’s ever rolled out, adding woes to a region […]

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