Venezuela’s cryptocurrency the Petro Dollar had hopeful beginnings. 

In December of 2017, Venezuelan president Nicolás Maduro announced that his regime would be adopting the “Petro,” the world’s first state-backed digital currency. 

It was a revolutionary idea, and it could’ve saved the nation’s economy by mitigating the effects of rampant corruption. How Venezuela’s cryptocurrency plan unfolded, however, is a different story...

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