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RE: Oil Backed Cryptocurrency - Venezuelan President Issuing First 100 Million Petros
I see the benefit for the Venezuelan state here, but I don't see the benefit for anyone else that would entice them to use it. Can anyone shine some light on that for me?
Assuming the state does not cheat the system, it's a pegged currency. Those are hard to come by these days, since fiat abandoned the gold standard wholesale.