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RE: EOS Venezuela Creates The Crypto Peso

in #eosio6 years ago

I have no data to prove it, but there is also no data to prove that the "petro" exists other than as an idea. There's fairly strong circumstantial evidence to suggests that it does not, in fact, exist. Not that the following is an infallible source, but here's a couple excerpts from a recent wired.com article that will definitely raise some eyebrows:

One Petro is supposed to get you $60 or 3,600 sovereign bolívars. It’s supposedly backed by oil barrels produced by the national oil company PDVSA; the catch: PDVSA also has debts amounting to $45 billion. And in real life, the Petro – crypto or not – doesn’t exist at all. “We have not seen a single Petro circulating, nor its smart contracts, or rules of the token, and much less its blockchain,” says Farias.

“One of their high-ranked officials from the police intelligence agency was treating bitcoin miners as terrorists, and even came out saying miners where physically taking bitcoins to the border of Colombia to exchange them for US dollars. The national intelligence agency was saying there was a physical bitcoin! And now they have a national cryptocurrency – so who will mine it or sustain the network?”

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