Venezuela Invites OPEC Countries to Jointly Develop Oil-Backed Crypto Platform

in #cryptocurrency7 years ago

Venezuela Invites OPEC Countries to Jointly Develop Oil-Backed Crypto Platform

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Welcoming OPEC Nations

Related reading on @wahabali:  Most Crypto Traders in South Korea Remain Anonymous Despite Regulations

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Amid the gathering on Tuesday with Secretary General of the Organization of the Petroleum Exporting Countries (OPEC), Mohammed Barkindo, Maduro proposed for all OPEC countries to meet up and build up a stage for the exchanging of oil-upheld cryptographic forms of money.

Meeting between Maduro and Mohammed Barkindo.

OPEC comprises of 14 countries: Algeria, Angola, Ecuador, Equatorial Guinea, Gabon, Iran, Iraq, Kuwait, Libya, Nigeria, Qatar, Saudi Arabia, United Arab Emirates, and Venezuela. "I will authoritatively send all the OPEC makers a proposition," Maduro declared and stretched out the welcome to non-OPEC nations, saying:

I will authoritatively propose to the OPEC and non-OPEC nations that we receive a joint digital money component supported by oil.

Venezuela as of late distributed the whitepaper for its own oil-upheld digital currency. A private pre-offer of the petro will be hung on February 20, trailed by an underlying coin offering (ICO) in March.

Notwithstanding "5 billion barrels of oil bolster the petro," Maduro affirmed that "we will likewise bolster our digital money with valuable minerals from our property," including:

I have disclosed to Mohammed Barkindo the integrity of the petro. The cryptographic money is the universe without bounds. I am extremely energized and in addition the general population of Venezuela.

Petro's Promises

As indicated by the petro's whitepaper:

The Bolivarian Republic of Venezuela ensures that it will acknowledge petros as a type of installment of national expenses, charges, commitments and open administrations.

PIC

"The Venezuelan government is focused on advancing the utilization of petro in the residential market and attempting endeavors to invigorate its acknowledgment all through the world," the whitepaper peruses. "The State will effectively expect the responsibility regarding advance the appropriation of petro, empowering the development of its national and universal client base."

What's more, "The utilization of petro will be advanced by PDVSA and other open and joint endeavors, and in addition national open elements and territorial and neighborhood governments," the whitepaper likewise uncovered. On Tuesday, the Superintendency of Cryptocurrencies declared that the "PDVSA will utilize the petro in its business relations."

Moreover, the Superintendency gave extra data about the beforehand declared Petro Container, expressing that they are "for the massification of mining ranches in secondary schools, colleges, college towns and famous segments."

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Thanks for this worth a follow. I enjoyed it, Keep up the good work.

Here's some links from a previous recap of mine that are related:

Venezuela President announces that the initial sale of the countries proposed Petro coin will launch next month. The country has turned to alternative sources of financing after it struggles to manage its current debt burden and is prohibited by U.S sanctions from issuing more debt.

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