Venezuela’s president Nicolas Maduro has called for 10 other countries to adopt his planned oil-backed cryptocurrency, the petro. This move follows the country’s parliament declaring the issuance of this new currency illegal.
I have gone over this, it works if the currency manages the typical generator for a barrel of oil, give us the distribution contained within the barrels value added chain. The sandbox can maintain an oil currency as accurate as that value chain. Oil buyers and sellers should be able to find all the derivatives they need from that compact graph.
Making statistics fair is a protected spreadsheet function, operating on a blockchain with delete. The statistics function needs to have the most recent few windows of oil sales, not the infinite sequence.
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