Venezuelan authorities are considering the possibility of creating their own digital currencies to overcome hyperinflation, writes The Merkle.

To develop the concept of national cryptocurrencies, the Central Bank of Venezuela attracted the company Onixcoin. The government of the South American country is looking at various options for the development of mining in Venezuela.

Note that, due to hyperinflation in Venezuela there is an extremely high demand for the cryptocurrency. Local businessmen agree to accept even a digital collectible card with the frog Pepe, created on the blockchain the platform Counterparty. On the other hand, Venezuelan authorities harshly suppress the activities of mining cryptocurrency, accusing the miners in the Internet fraud and theft of electricity.

On creating its own cryptocurrency now working many States. In particular the government of the United Arab Emirates intends to release a cryptocurrency EMSA. While Japanese banks have formed a consortium to create a national digital currency J-Coin.

See also: Japanese SBI Holdings creates its own digital currency

Venezuela is preparing to release its own crypto currency 10.10.2017

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