Venezuelas state-backed cryptocurrency Petro is about to hit the market. Amidst an extreme economic crisis in the South American country however there is little reason to expect anything other than failure. State-Issued Crypto Amidst a Crumbling Economy Today Venezuela is scheduled to launch the worldβs first ever state-backed cryptocurrency with its new oil-backed Petro token which many are construing as a desperate cash grab by a corrupt government amid an ever-worsening economic meltdown. Called Petro Read More The post Worlds Most Miserable Country to Launch Its Own Cryptocurrency Today appeared first on Bitcoinist.com. via ICGO https://www.icgo.co.uk/redirect/?url=http://bitcoinist.com/worlds-most-miserable-country-to-launch-its-own-cryptocurrency-today/