Most dominant currencies of the past centuries were tied to real commodities with intrinsic value -- eg, gold, silver for instance. There is nothing horrifying

Most dominant currencies of the past centuries were tied to real commodities with intrinsic value -- eg, gold, silver for instance. There is nothing horrifying about a commodity-backed currency, especially when compared to the "alternative" -- the international reserve currency, the US dollar, is backed by "confidence" and is created out of thin air -- that we are now stuck with. I haven't read Venezuela's crypto offering in detail, but Venezuela's problem, as I see it, is most investors/traders won't trust socialist Venezuela to honor their contracts when push comes to shove.