Accepting a crypto that wouldn't control?
Forget it.
It would be easier (for a country) to issue an own controlled crypto, as Venezuela did with Pedro.
Do not forget, that National Banks (who issue currency) are private institutions.
Do you get the point ?
Forget it.
It would be easier (for a country) to issue an own controlled crypto, as Venezuela did with Pedro.
Do not forget, that National Banks (who issue currency) are private institutions.
Do you get the point ?
In Venezuela the Central Bank issues money, this is a State owned institution. It absolutely obeys the executive, including the absurd; which is why they are issuing all the money they want without any restrain and for that reason its currently the world's worst fiat, already passing one million percent yearly inflation.
The main problem with Petro is they are treating it the same way. It was pointless to make a digital currency and make the same mistakes they do to fiat. The problem is within their minds, complete disregard of economy principles, pretending they can fix anything by decree.
And this experience has let me believe that the only good currency is one where the government has zero control, such as bitcoin. And like i said before, there are countries that no longer have a national fiat, and are using the money from a third country, so its not like there aren't any governments out there that have zero control of the currency already...
