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mk  ·  2563 days ago  ·  link  ·    ·  parent  ·  post: Venezuela Will Create New 'Petro' Cryptocurrency, President Maduro Says

That's probably not going to work. Backing a blockchain with oil, gold, and diamonds would need oracles that report the supplies in a trustworthy manner. That seems an Achilles heel. There's no real advantage here, except perhaps of there was intrinsic transparency around the supply of tokens.