The problem with government issued crypto-assets is that they can function as tools for corruption. Most Latin American governments are known for their high corruption rate.
Elections are coming in your country, lets aim for a positive outcome.
The US are concerned that the sale of Petro is being carried out in order to raise funds that will circumvent financial sanctions that have been imposed on the controversial state. Others have labelled the ICO a pre-sale of oil, which will cause issues in the near future. This is primarily because some of the oil that is being used as backing for the ICO is yet to be mined: Controversial Venezuelan Pre-Sale For Petro Goes Ahead
While the country has the largest oil reserves in the world, 100 million barrels would represent around 12% of its annual production. Committing this amount of their main economic asset is not only unlikely, but also extremely risky for the already wrecked Venezuelan Economy.
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That's just a new way for them to steal all the money they can before leaving the government. (if they leave, of course)
The problem with government issued crypto-assets is that they can function as tools for corruption. Most Latin American governments are known for their high corruption rate.
Elections are coming in your country, lets aim for a positive outcome.
There isn't a "positive outcome" :(
Is it really not possible to emigrate? ):
The US are concerned that the sale of Petro is being carried out in order to raise funds that will circumvent financial sanctions that have been imposed on the controversial state. Others have labelled the ICO a pre-sale of oil, which will cause issues in the near future. This is primarily because some of the oil that is being used as backing for the ICO is yet to be mined: Controversial Venezuelan Pre-Sale For Petro Goes Ahead
While the country has the largest oil reserves in the world, 100 million barrels would represent around 12% of its annual production. Committing this amount of their main economic asset is not only unlikely, but also extremely risky for the already wrecked Venezuelan Economy.
You got a 1.53% upvote from @buildawhale courtesy of @pk170!
If you believe this post is spam or abuse, please report it to our Discord #abuse channel.
If you want to support our Curation Digest or our Spam & Abuse prevention efforts, please vote @themarkymark as witness.