Venezuela

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Reuters: Venezuela’s Petro Has No Users, No Investors and No Oil to Back It Up

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The petro has stirred up a lot of debate among the cryptocurrency community, with some people who believe it is a successful example of using the technology to create resource-backed assets and bypassing financial sanctions, while others see it as a scam by a corrupt government that already inflicted economic calamities, such as hyperinflation, against … Read more

Iranian National Crypto’s Features Revealed as Official Launch Looms Closer

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Iran’s national cryptocurrency will be backed by the country’s fiat currency, the rial, and will be distributed in two phases, first as an interbank token and secondly for retail payments. These are some of the features of the digital currency that were revealed by the Informatics Services Corporation (ISC), an institution that develops banking and … Read more

Venezuela Loves Dash: Altcoin Surges 30% on Adoption Push

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News dominating the current cycle is all about bitcoin core (BTC) skipping above the psychological $7,000 price point. However, quietly, determinedly, the altcoin Dash has been besting all comers. It is up double digits in recent days, thanks in part to its proponents’ dogged hustle and commitment to emerging economies such as Venezuela. Also read: … Read more

DOJ Special Agent Empathizes With Bitcoin Adoption in Venezuela

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In an interview conducted earlier this month at the Chainxchange blockchain convention, Lilia Infante, a special agent with the U.S. Department of Justice (DOJ) who pioneered the DOJ’s first Cyber Investigative Task Force looking at the use of cryptocurrencies in criminal investigations, recently discussed her views regarding the adoption of virtual currencies. Mrs. Infante expressed … Read more

Venezuela Bolivar Re-Denomination Gets Smartphone App

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Hyperinflation has taken off to cartoon proportions in Venezuela, leaving the government to take rather drastic steps in trying to restore confidence in its domestic market. That’s a very heavy, ambitious goal, and so the government ordered banks and exchanges to remove five decimal places in the hope of curbing hyperinflation. And to limit further … Read more

Who Says Man Shall Not Live by Cryptocurrency Alone?

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Many people inside the cryptocurrency community spend extended periods of time in front of their computers. When they do take a break and step out into the real world, they often have a hard time explaining what they do. The very words “cryptocurrency” or “blockchain” often provoke ill-concealed smirks or outright guffaws followed by remarks like, … Read more