I think Venezuela does not control anything at this point... This is the first serious attempt to get some control again...

There are many blockchain-technologies that can be used... I am not sure which they will be using, but there is no advantage for them to use something that is closed source... So I guess i will be some token on an existing blockchain like NEM's mosaic (no idea regarding NEM) or ERC20-tokens, or an independent blockchain and using the other tokens just for exchange.