President Nicolas Maduro has said Venezuela would launch a cryptocurrency to combat a US-led financial “blockade,” although he provided few clues about how the economically crippled Opec member would pull off the feat.
The solution to hyperinflation always is a new currency. One that is rigidly limited in issuance so that people can have confidence in it. Maybe not a sufficient criterion, but a necessary one.
So, hands up everyone who thinks Maduro is going to launch a currency with a hard and not breakable issuance limit?
Quite, it’s not going to work, is it?