As long as they can't create as many tokens as they want, I'm all for it. But if they can just control the supply like they did with excessive printing of money, history will just repeat itself a few years down the road.
Hopefully the supply is capped and the value fluctuates based on oil prices and supply. If someone could clarify this I would greatly appreciate it!
Fair points. We will see how this project develops!
"Venezuela has a history of setting official bolivar exchange rates that are far out of line from the bolivar's market value. If the Venezuelan government wants to devalue the petro, it can use an inflated value for the bolivar—something it already does in other contexts. Hence, there's no reason to think the petros will remain linked to a barrel of oil in international markets." Source