Enter the 'petro': Venezuela to launch oil-backed cryptocurrency

http://feeds.feedburner.com/~ff/Reuters/worldNews?d=yIl2AUoC8zACARACAS (Reuters) - Venezuelan President Nicolas Maduro looked to the world of digital currency to circumvent U.S.-led financial sanctions, announcing on Sunday the launch of the "petro" backed by oil reserves to shore up a collapsed economy.

from Reuters: World News http://www.reuters.com/article/us-venezuela-economy/enter-the-petro-venezuela-to-launch-oil-backed-cryptocurrency-idUSKBN1DX0SQ?feedType=RSS&feedName=worldNews