Political uncertainty is fueling the scramble to acquire digital currency. LocalBitcoins has processed over $15 million in Bolivar to BTC trades.
The Venezuelan government is reportedly converting pension payments into its national cryptocurrency, the Petro.
Venezuela recently became one of the first countries to implement a national cryptocurrency, but the Petro is fraught with controversy and confusion.
Venezuela is the world’s richest country in terms of oil. Yet its people are starving. With devaluation, hyperinflation and crisis is cryptocurrency the answer?
Both Iran and Venezuela are currently facing a tide of financial sanctions imposed by the United States. As you might expect, their respective governments are actively searching for ways to…
“Corruption, embezzlement, fraud, these are all characteristics which exist everywhere. It is regrettably the way human nature functions, whether we like it or not. What successful economies do is keep…
The Russians may have used Venezuela as an experiment to test a decentralized currency without the risk of bringing down their ruble.