Venezuela has declared the country's virtual currency "ICO" : 100 million

Venezuela's President, nicolas maduro said on Friday, he has ordered the release 100 million "oil money", each unit of the "oil money" and venezuela is linked to a basket of oil prices, the total value will exceed $5.9 billion.
Maduro said in a televised speech, in the day will be the Orinoco heavy-oil belt ayacucho block 1 oilfield, with reserves of 5 billion barrels) (oil, all oil as the material basis for the issue "oil money", the specific blocks of gold resources also include as the material basis for the "oil money"
The currency would be used to make international payments, becoming a new way for venezuela to finance itself internationally.It is understood that the government has set up an organization of experts in fields such as technology, economy and law to promote the "oil coin" project.
In addition to publishing details of the virtual currency, venezuela has started to recruit miners for oil in the country.Mr. Maduro said as many as 860,000 young people have signed up for "mining" oil COINS