Good-Guy
VIP Contributor
Inflation is one of the biggest enemies of any country. A country with a high inflation rate also has a high rate of unemployment and poverty. Unfortunately, there are several countries that have a high inflation rate and one of those countries is Venezuelan with the highest inflation rate. During such times, the government of Venezuela has announced its own cryptocurrency called "Venezuela Petro Crypto" with hopes that it might have some impact on its economy and it might help to fight-off crisis. However, I am really not sure if this will help because technically a government's coin's value is dependent on the GDP and economical conditions of the country. For example, Bitcoin is much better than other coins because it has such a high market cap and it is high in demand, too. I am not sure if Venezuela's coin will have a good market cap and demand in the market. So, what do you think? Do you think that this is a good step by the government of Venezuela? Would you personally buy digital coin created by the government of Venezuela?
