The UK Introduces The First Oil-Backed Cryptocurrency
A new Ethereum-based cryptocurrency has hit the market that secures its value to oil, a first for the digital money sector. The currency called ‘Bilur’ (Basque for ‘chain’) was created by London-based financial services company R FinTech to compete with other industry leading cryptocurrencies like bitcoin. Ignacio Ozcariz, CEO of R FinTech, tells ETHNews that the concept of monetizing the energy sector has been long overdue.
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what is the petro-dollar?
A notional unit of currency earned by a country from the export of petroleum.
yup...and it's been around for a LONG Time.
So this isn't new
oh.. I just noticed something. I re read your headline.
The first oil backed CRYPTO currency. I missed that part.
.I apologize.
No sweat brother, we are all learning.
I read too fast sometimes.
Will be looking into this for sure