Petro Era Ends: Venezuela Dismantles State-Backed Cryptocurrency

Venezuela’s ambitious cryptocurrency experiment, the Petro, launched with fanfare in 2018, has finally met its demise. After six years of struggling to gain traction amidst skepticism, technical hurdles, and a crippling corruption scandal, the government is pulling the plug. Petro’s Promise Shattered: Venezuela’s Crypto Catastrophe President Nicolas Maduro initially touted the Petro as a... source: https://bitcoinist.com/petro-venezuela-dismantles-state-backed-crypto/