petro coin backed by argentine oil reserves

[jbeas176]

i was reading today about macri offering cryto currency called petro coin through blockchain technology backed by a large oil reserve. is this true or false?

 

[jbeas176]

now that i am on a computer, i would like to add my thoughts as i understand them. not a genius. blockchain is the platform crytocurrency runs on is the future of financial transactions. IBM for one is heading that way. there are over 100 crytocurrencies, maybe four are relevant. bitcoin, ethereum, dash and tether. its not believed they will be relevant when blockchain dominates transactions. my personal opinion is its a way to do away with cash or negro exchanges and have every transfer of money with a digital footprint. its said title companies for real estate transactions in the US would not be needed. everything has a footprint.

 

[jbeas176]

bajo consider this maybe a brilliant idea. a crytocurrency backed by a tangible resource. could invite alot of investment.

 

[MikeB12]

It was Venezuela, not Argentina...and apparently it's worthless like everything else Maduro touches - https://steemit.com/venezuela/@alemacgo/the-truth-about-the-petro-launch

 

[jbeas176]

Thanks mikeb12. i get a finanical newsletter ssying it was argentina. big difference. it might say something about the rest of the advise.

 

[RodalfoWalsh]

Thanks mikeb12. i get a finanical newsletter ssying it was argentina. big difference. it might say something about the rest of the advise.

Yeah I wouldn’t trust that newsletter for financial advice.