#Venezuela

Venezuela Raises Petrol Prices, Mandates Support for Petro at Gas Stations

June 2, 2020 by Dalmas Ngetich at News

Venezuela is endowed with natural resources that its state-backed cryptocurrency, the Petro, is pegged one-to-one with a barrel of oil. Surprisingly, oil is scarce. Often, citizens scramble to fill up their car tanks after queuing for days. Therefore, the decision by the Maduro-led government on May 31, 2020, to raise...

Ontology (ONT), Blockchain Venezuela to Drive Economic Initiatives in Latin America

April 8, 2020 by Ogwu Osaemezu Emmanuel at Altcoins

Venezuela Blockchain, an organization that claims to be focused on driving a new economy in Venezuela powered by cryptocurrency and distributed ledger technology (DLT), has joined forces with Ontology (ONT), the high-performance blockchain network for enterprises. The partnership is aimed at creating economic initiatives that will improve the lives of...

Venezuela: P2P Bitcoin (BTC) Trading Surges Amidst Coronavirus Scare

March 18, 2020 by Ogwu Osaemezu Emmanuel at Bitcoin

The daily Bitcoin (BTC) trading volume of Venezuelan peer-to-peer (P2P) exchanges has been on the rise over the past two weeks, as President Nicolas Maduro has ordered the nation to go into quarantine as part of measures to contain the coronavirus pandemic, reports Decrypt on March 17, 2020. Venezuelan Banks...

Altcoin Explorer: Dash, the Digital Payments Cryptocurrency, Part 2

March 17, 2020 by Edoardo Vecchio at Altcoin Explorer

In the first part, we reviewed the history of Dash and analyzed its governance model. In this article, we will see some use cases of Dash, what the future of this cryptocurrency holds for us as well as some of its weaknesses. The Venezuelan Case Although it is still included...

President Nicolas Maduro Set to Create Youth Bank Funded by Petro Cryptocurrency

Venezuela’s President Says Petro Cryptocurrency Critical to Economic Recovery

January 15, 2020 by Osato Avan-Nomayo at Altcoins

Venezuela’s President Nicolas Maduro says Petro — the state-issued crypto, will be a major focus of the country’s government in 2020. Despite previous attempts to promote utility for the national cryptocurrency, public tokens like Bitcoin (BTC) and Dash are seeing the most adoption within the economically troubled country. Petro Will...

Venezuela to pay Christmas Bonuses with a Contraversal Cryptocurrency, the Petro

November 18, 2019 by Ogwu Osaemezu Emmanuel at Altcoins

As hyperinflation continues to ravage the Venezuelan economy, President Nicolas Maduro has hinted that the Christmas bonus of retirees and pensioners in the country will be paid in petro (PTR), Venezuela’s national crypto. This according to a tweet by a local news source, Venepress on November 17, 2019. Crypto Reigns...

Cryptocurrency Dash Exhibits Real-World Application Through Venezuela Adoption

October 18, 2019 by Ashwath Balakrishnan at Altcoins

Dash is one of the lesser recognized privacy coins but has exhibited some of the strongest use cases and adoption metrics. Despite more popularity residing with ZCash and Monero, Dash has progressed incredibly well. Cryptobuyer, a Latin American exchange and crypto merchant solution, has stated that Dash has been the...

Venezuela Formally Confirms Sanction-Skirting Cryptocurrency Payment System

October 1, 2019 by Ashwath Balakrishnan at Altcoins

Venezuelan President, Nicholas Maduro, has confirmed rumors that the country is launching a cryptocurrency-based payment network for domestic and international payments. An even more exciting development from here is that the country is looking to accept Bitcoin and Ethereum from a state-owned petroleum company which they will hold as a...

Venezuela State-Run Oil Firm to Pay Suppliers in Bitcoin

September 27, 2019 by Ogwu Osaemezu Emmanuel at Bitcoin

As the age-long economic crisis rages on, Venezuela’s apex bank, Banco Central de Venezuela (BCV) is now running internal tests with officials to find out the possibility of holding bitcoin (BTC) and ether (ETH) in its coffers as foreign reserves, as the nation’s state-owned oil company is looking to pay...

Dash Crypto Parachuting down into Coinbase Pro

Dash (DASH) to Begin Trading on Coinbase Pro

September 13, 2019 by Ogwu Osaemezu Emmanuel at Altcoins

Coinbase Pro will add full trading support for Dash (DASH), a privacy-centric altcoin, on September 17, 2019. Cryptocurrency traders on the platform can start depositing Dash (DASH) into their wallets starting from September 16, according to a blog post on September 12, 2019. Listing Dash (DASH) Dash (DASH) enthusiasts will...

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