Venezuela, which is reeling under crippling hyperinflation has pegged it's hopes of recovery on it's own cryptocurrency - the petro. Media there are reporting that pensions are now set to be converted into the national cryptocurrency.
Editor's Note: Neither Fiat or cryptocurrency can solve problems of a corruption-filled government that makes poor econdomic decisions. The risk here is that they'll mismanage this too - then others will point to it saying "look, cryptocurrency failed".
It's important the rest of the cryptocurrency world remains skeptical, and avoids highlighting this as a great use of cryptocurrency.
Editor's Note: Neither Fiat or cryptocurrency can solve problems of a corruption-filled government that makes poor econdomic decisions. The risk here is that they'll mismanage this too - then others will point to it saying "look, cryptocurrency failed".
It's important the rest of the cryptocurrency world remains skeptical, and avoids highlighting this as a great use of cryptocurrency.
