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Venezuela goes crypto

justchecking123

By justchecking123,
in World Economy

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justchecking123 Newbie

justchecking123

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Posted

https://techcrunch.com/2018/08/20/venezuela-ties-its-currency-to-a-state-run-cryptocoin/

 

Read, surmize, blah blah...this is the only paragraph that matters IMO.

 

Although this whole situation is nominally of interest, it seems unlikely to benefit the people on the ground in Venezuela who have no use for oil-based cryptocurrencies and just want to buy some bottled water, a package of diapers and a train ticket out of the country. How this all plays out will no doubt be instructive, but let’s not lose sight of the humanitarian crisis playing out on the streets.

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