Foreign News: Venezuela to Establish Trading Exchange on Ethereum

On October 2, Decrypt announced that Venezuela would establish an Ethereum exchange. Venezuela wants a centralized governance process, but under current law, the exchange will make it as democratic as possible. The Venezuelan government has stated that all terms and conditions will be open and explored, and participants will have their own keys and symbols. The exchange would be a DeFi platform running on the Ethereum blockchain that allows traders to trade existing tokenized assets under the ERC223 (an option for ERC20) and ERC721 (racing tokens) contracts on a case-by-case basis. Previously, Venezuelan President Nicolas Maduro said the country was exploring the possibility of increasing the use of cryptocurrencies in the economy in addition to oil, which could include both private ownership and ownership of the economy. State. .