Venezuela launches the country's first cryptocurrency ICO, Petro
Venezuela becomesthe country’s first
cryptocurrency- the Petro ICO
has begun.
http://bitcoin-newstart.com/petro-ico
Currently Venezuela is under economic sanctions
from the United States,
and its own currency is in extreme inflation
as a result.
In 2017it increased by 4000%
In other words, prices of goods rose by 40 times
and the value of the currency dropped.
(Due to the devaluation of the currency)
The United States imposed economic sanctions
on the Maduro regime,
but those who suffer are the citizens.
Living standards have deteriorated, and citizens
are earning income from mining Bitcoin,
which is banned, in some households.
This ICO, being the first of its kind for the country,
has attracted global attention
for sure.
Of course, the ICO has not been
approved by the United States,
and the initial sale offers a 60% discount,
which some call a fraudulent ICO.
What kind of impact will this Petro ICO
have on the Venezuelan people?
That is what I am concerned about.
I have summarized
the country’s first ICO, Petro, below
http://bitcoin-newstart.com/petro-ico
