Bitcoinist.net:

In July, Bitcoinist reported on Venezuelan Nicolás Maduro's efforts to see the Petro become his avowed 'Great Hope.'

Venezuela’s president, Nicolas Maduro, recently announced that he plans to revive the country’s oil-backed cryptocurrency Petro, which failed to attract users.

Venezuela’s Petro: National cryptocurrency that failed
The last several years have brought great economic difficulties for the country of Venezuela, whose native currency, bolivar, suffered a great loss of value due to extreme inflation. At the same time, cryptocurrencies were finally leaving the shadows and becoming a big trend around the world. This is why the country decided to create its own, national cryptocurrency backed by its oil supplies — Petro.
The coin was supposed to represent a safe haven from the nearly-worthless bolivar, but also to help circumvent US sanctions. However, Petro, which was launched in 2018, failed to attract users as Venezuelans were more…

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Source: https://bitcoinist.com/president-maduro-forces-airlines-to-buy-fuel-using-petro-cryptocurrency/