North Korea Develops Its Own Cryptocurrency

The North Korean authorities have begun to develop their own digital currency.

According to the Vice News portal, Pyongyang needs a cryptocurrency to circumvent international sanctions. One of the participants in the blockchain conferences in North Korea, Alejandro Cao de Benos, said that the new digital asset will be similar to bitcoin.

He did not specify the remaining details of the development of the coin. There is no token name yet.

“We are still at a very early stage in the creation of the token. Now we are exploring the possibility of providing a coin with the help of goods or any other assets” – Benos said.

However, at the official level, the DPRK has so far refused to recognize or refute information about the intention of the country’s leadership to issue cryptocurrency.

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Note that at the beginning of last year, Venezuela issued its Petro token. In addition, Caracas said that the coin is assigned to oil. However, this digital asset is still not popular in the global market.

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