Crypto-Socialism arises in Venezuela. Despite the fact that such speculative financial instruments fall outside the scope of socialism, Nicolas Maduro, the crafty president of the developing country, does not lose hope for making money on growing public interest in virtual money. The national leader promised to answer the West with Petro Oro, it own digital money, in the nearest future.
Originally, Maduro announced the release of local cryptocurrency in December last year. And now, according to the president, the project is ready to be launched. Market participants regarded Maduro's statement as an official confirmation of the launch of the Venezuelan cryptocurrency. The main distinguishing feature of Petro Oro is that it will be gold-backed virtual currency.
