Venezuela's oil-backed state cryptocurrency is getting some traction. After the stable coin was created to fight off inflation and Trump's imposing regulations on the country, the Petro has experienced some downs, as it was not perceived well from common people and especially businesses. Things are starting to change, it looks. The Petro is now reportedly…
Read more
The story of Venezuela and its affinity towards cryptocurrencies to save the economy is a very dynamic and interesting one. The President of Venezuela, Mr. Nicolas Maduro has embraced digital currencies as a way to fight back the plunging bolivar and the restrictive US sanctions imposed on the country. What has killed the economy, however,…
Read more
Although recent press reports may contend otherwise, not all central banks are opposed to the notion of cryptocurrencies. The World Economic Forum released a report back in April that revealed that there are several ongoing central bank led projects that involve blockchain technology in support of what is called a Central Bank Digital Currency (CBDC).…
Read more
The economy in Venezuela is going down. The country is experiencing high inflation and constant shortage of food and water, mainly because of US sanctions. In the summer of 2018, Leaprate reported that President Nicolas Maduro has placed all "his eggs in one basket" - by using the petro, a state-backed digital coin, to save…
Read more
An interesting phenomenon is taking place on the global financial markets. The measures taken by the Trump Administration to tighten up global trade and “restore” the powerful place of the US as a number one economic power are seriously affecting the global political and economic powers. The most recent talks on how to neutralize the…
Read more
Desperate people are known to do desperate things, but is that maxim also true for countries? Venezuela, a failing socialist state, has two competing presidents at the moment and an inflation rate of 1.7 million percent. Yes, that is correct. It is not a typo. Due to inflation and a host of other reasons, the…
Read more
As of today, there are around 4,200 Bitcoin ATMs, which are placed in more than 75 countries around the world. Now, the first Bitcoin ATM in Venezuela is to be launched within the next 2 weeks. The news reportedly comes from the CEO of Cryptobuyer, Jorge Farias. Cryptobuyer is a company that helps people get…
Read more
The Venezuelan government recently introduced a state-backed digital coin, called Petro. The country has been facing economic downturn and the Venezuelan President, Nicolas Maduro, introduced the oil-backed digital coin to fight the dying economy. Back in the summer of 2018, the situation in Venezuela was so critical that people had to line with days for food…
Read more
Dash, the cryptocurrency for payments and e-commerce, has announced the launch of Dash Text, a Venezuela-based company providing SMS-based transactions for Dash. T his now provides a completely new way for users to acquire, store, and spend their Dash, while solving for one of the major barriers to entry in the cryptocurrency space — the…
Read more
Venezuela introduced its state-backed cryptocurrency, the petro and now the President of the country has ordered all banks to adopt the new digital currency as of this past Monday. Venezuela is suffering from a huge economic and political crisis, with the US sanctions coming in force with hunger and even water crisis in the capital.…
Read more