In Washington, Venezuela’s plan to create a ‘Bitcoin’ seen as a sign of desperation

While Venezuela might be able to set up the technology needed to trade with digital currencies, experts said the success of the Petro would depend on others’ willingness to use it. And given Venezuela’s current economic situation, the Petro is unlikely to be popular. “Who would actually use a Venezuelan crypto-currency, honestly?” said Eric Farnsworth, the Vice President of the Council of the Americas. “Only the most desperate or the most lawless would try to avail themselves of this.” More…