Thursday 17 January 2019 ,
Thursday 17 January 2019 ,
Latest News
  • CEC completely rejects TIB’s election report
  • Ridesharing lady Shahanaj gets back her bike
  • Quit BNP accepting failures: Quader to Fakhrul
  • 'Main accused' of Xulhaz-Tanoy murders held from Tongi
  • One in three UN employees have been sexually harassed: survey
  • Brexit: Theresa May's deal is voted down in historic Commons defeat
  • Salman F Rahman appointed, Sajeeb Ahmed Wazed reappointed PM advisers
5 December, 2017 00:00 00 AM
Print

Venezuela creating digital currency amid financing crisis

AFP

AFP, CARACAS: Venezuela is creating a digital currency to combat a financial blockade by the United States, President Nicolas Maduro announced Sunday.

The Petro will be backed by Venezuela’s oil and gas reserves and its gold and diamond holdings, the president said in his weekly television program.

“This is going to allow us to move toward new forms of international financing for the country’s economic and social development,” the president said.

The government also announced the creation of a “blockchain observatory”—a software platform for buying and selling virtual currency.

Although the president did not offer many details, analysts such as Henkel Garcia see the possibility of success as limited.

“You can build it, but trust, acceptance and use is what will determine the cryptocurrency’s success. For me, it will be quite limited. The bolivar is also backed by reserves and has no strength,” Garcia, director of consultancy Econometrica.

“Confidence in a country is going to depend on the levels of production and the wealth it generates.

 

Comments

Poll
Today's Question »
State minister for power Nasrul Hamid yesterday said everyone to have access to electricity by June. Do you think the feat achievable by the timeframe?
 Yes
 No
 No Comment
Yes 28.6%
No 65.4%
No Comment 6.0%
Most Viewed
Digital Edition
Archive
SunMonTueWedThuFri Sat
0102030405
06070809101112
13141516171819
20212223242526
2728293031

Copyright © All right reserved.

Editor : M. Shamsur Rahman

Published by the Editor on behalf of Independent Publications Limited at Media Printers, 446/H, Tejgaon I/A, Dhaka-1215.
Editorial, News & Commercial Offices : Beximco Media Complex, 149-150 Tejgaon I/A, Dhaka-1208, Bangladesh. GPO Box No. 934, Dhaka-1000.

Editor : M. Shamsur Rahman
Published by the Editor on behalf of Independent Publications Limited at Media Printers, 446/H, Tejgaon I/A, Dhaka-1215.
Editorial, News & Commercial Offices : Beximco Media Complex, 149-150 Tejgaon I/A, Dhaka-1208, Bangladesh. GPO Box No. 934, Dhaka-1000.

Disclaimer & Privacy Policy
....................................................
About Us
....................................................
Contact Us
....................................................
Advertisement
....................................................
Subscription

Powered by : Frog Hosting