A new Ethereum-based cryptocurrency has hit the market that secures its value to oil, a first for the digital money sector. The currency called ‘Bilur’ (Basque for ‘chain’) was created by London-based financial services company R FinTech to compete with other industry leading cryptocurrencies like bitcoin. Ignacio Ozcariz, CEO of R FinTech, tells ETHNews that the concept of monetizing the energy sector has been long overdue.
Please read full article @ https://www.ethnews.com/the-uk-introduces-the-first-oil-backed-cryptocurrency & http://newsbitcoin.info/bilur-the-next-generation-cryptocurrency/
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It's not gonna work, all my investor friends have zero fossil in their portfolio. Of course there is still tons to be made in fossil, but the new money is focused on new technology, oil simply just isn't. Maybe it can benefit a little from the current crypto craze, but if you want to take a long look at the long-term value a product can bring to society.
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