Venezuela will launch a cryptocurrency funded bank for the youth
-Petro is a oil backed cryptocurrency developed in Venezuela
-Nicolas Maduro, the Venezuelan president will launch a bank for students and young people
-The bank will be funded with 20 million petros
Petro was developed last February 2018 under the directions of the president. Before The launch of Petro, it was opposed by Congress for it was seen as ‘illegal’.
The launch of Petro has been condemned as a way to avoid US-led sanctions. A cryptocurrency fund will be used to set up institutions and get these institutions running
Every university should have its own mining farms. This project of Venezuelan government aims to use these cryptocurrencies to strengthen the economy of Venezuela
Read the full article by Sujha Sundararajan at https://www.coindesk.com/