Venezuela’s much anticipated (yet highly controversial) oil-backed digital coin – the ‘Petro’ token – is coming soon.
On Tuesday, Venezuela President Nicolas Maduro announced that the crypto-crazed country will begin the pre-sale of its new Petro token starting on February 20, in an attempt to alleviate an economy that has been hit hard by inflation and shortages. These tokens will be created on the Ethereum blockchain.
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As part of the offering, Venezuela intends to make 100 million Petro tokens available, with each token being ...
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