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RE: Crypto News: Venezuela Makes News Introducing New National Cryptocurrency 'The Petro'

in #cryptocurrency7 years ago (edited)

IMHO the only way of solving the economic woes of Venezuela is creating incentives to foreign and local investment, clear rules, reducing violence, investing in infrastructure and producing more goods and services a well as cutting excess expenses like vote-seeking concerts and giving away money for votes, or buying food from other countries that used to be produced in Venezuela but that can no longer be produced there because of an unrealistic price control and an iron fist clenched around the free exchange of currency. That does without mentioning rampant corruption.

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These are all valid points. The real story is much more complex and very few care to look into the problems deep enough to gain a true understanding of them in the first place.

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