Venezuela's crypto-currency: salvation or scam?

The answer to that's quite simple: obviously a scam, but one that could benefit citizens if everything goes well.

Honestly, tying it to oil is something interesting, albeit I think they're doing it wrong. Ideally, they should tie it to something like the value of a microlitre of oil, and mint a coin for every new microlitre they get. Something similar to how currencies, for the most part, used to work.