This is the second post, in a series of four. If you haven't read the first post, click here: .

Obviously, in the case of the Venezuelan crypto (Petro), trust should not be placed only in the functioning mechanism of the same, but also in the good faith of President Maduro, in realizing a truly valid project, which can give a perspective to its disaster. country, and not that it is, a desperate attempt to "spend the night", hoping that tomorrow will be better.

Another issue, to be put in the budget, in the success or failure of the Petro project, must be attributed to the many, and powerful enemies, that Venezuela has created over the years, which could conspire against the success of the project.

Go as it goes, the Petro as a concept will perhaps be tried again, as the situation in which it is tested seems very adverse.

It is also true that, if the experiment were to succeed, it would be a resounding success, against everything and everyone, and the implications would be sensational on a world scale, given that so many countries are in a similar situation to Venezuela.

State cryptocurrency, as a solution to the fiat money problem?

We'll see. The challenge is launched.

Returning to the need for an underlying, to guarantee the value of a currency, cryptocurrencies such as Petro seem to want to retrace a sort of new paradigm, which actually looks like an update of the old gold standard, in which currencies were backed by physical gold reserves.

Throughout history, gold has been adopted by all civilizations, in a completely spontaneous way, as its peculiar characteristics, such as being easily transportable, non-perishable, as well as rare, and therefore of great intrinsic value, have always made an excellent method of exchange, and forerunner of modern currency.

There was no centralized planning, which led to the adoption of gold, but it was something born from below, and fought by the system of power, namely governments, and banks.

See you tomorrow for the third post.

Thanks for reading!