07:23Fire Kills 68 People at Venezuelan Prison - Reports

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"What happened today in Carabobo is a sign of that".

Venezuelan media said there could be more than 60 fatalities.

"We don't do blockchain for the sake of blockchain", Mr Pennanen adds.

Relatives of inmates held at a prison in Valencia Venezuela, react after news that dozens were killed after a fire engulfed the facility.

What has the response been?

The text points to "elements in the leadership [of the Bolivarian process] that wish to restore the latifundio model of exploitation... a model that is contrary to the one promoted and developed by the Bolivarian Revolution under Commander Chavez's leadership".

But less than two years later, a virulent outbreak in Venezuela, combined with a mass exodus from the South American country, is threatening that medical success story. In 2011, at the dawn of the crypto era, he founded BitInstant, the first and largest Bitcoin company. "This is more criminals trying to steal from the suffering Venezuelan people".

The fire is now out, but a number of people are thought to have burned to death after the blaze is said to have been started by inmates setting fire to a mattress.

Further, Time reported that Russian billionaires Dennis Druzhkov and Fyodor Bogorodsky aided in the petro's development.

"This other inmate alleged that he had been sent to this cell as a punishment for attempting to stab another inmate". Forget about it if you have a credit card.

So-called cryptocurrencies - generated by computers - are "a very technical concept" which "not everybody necessarily knows how to use", noted Asdrubal Oliveros, an analyst with consultancy Ecoanalitica. It's a mystery. Buy something which will last for a long time, I suppose.

A fire has ripped through a jail in Venezuela, killing dozens of prisoners following an attempted breakout. So why does inflation not decline?

Carlos Nieto Palma, the director of the nonprofit group, labelled the event "grave and alarming".

While ever-increasing numbers of cryptocurrencies may seem confusing, for Ralph Hazell, chief executive and founder of The Real Asset Co, the competition created can only make for a stronger monetary system.

She said upon entering the office, the officials asked for his mobile phone, and he has been left without any means of communications since. The scenes were recorded by filmmakers Jermain Odreman and Guillermo Diaz. No one knows. Whether they are here, or in the hospital, or really where they are.

Whether or not Bitcoin regulation will become a thing in the country, remains to be seen. Though the government of Venezuela claims that the Petro's issuance will give a turning point for the downtrodden economy of the country, the US President doesn't seem to buy such idea. It's all about the different rate at which things are devalued, including some bank notes.

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