No other cryptocurrency has the support that PETRO has.
The Minister of People's Power for Ecological Mining Development, Víctor Cano, affirmed that Venezuela has large reserves not only of oil, but of mineral resources quantified in 1.7 billion dollars that support the petro, the Venezuelan cryptoactive, which has the greatest support in the world. Additionally, Venezuela's proven oil reserves are BOP 297,500 million, gold reserves are 367.6 tons extracted in vaults, diamond reserves are around 11,800 million carats, and proven gas reserves are 4.1 billion. of cubic feet.
The aforementioned, gives a support to the Petro of more than 58 billion US dollars at current prices, amount that represents 3 times the GDP of the United States or China and 4/5 of the world GDP. In turn, the guarantee decreed by the Government for the mining of this cryptoactive is the Ayacucho production block, area 1 of the Orinoco Oil Belt.
On the other hand, the Secretary General of the Blockchain Observatory, Daniel Peña, declared that the Petro, will be positioned among the ten main digital currencies during this 2018. In turn, the Venezuelan Government assures that the Petro will allow to have convertible currencies, to earn more money of the invested, which is secured as an electronic currency. And through it you can buy goods, that is, it is tradable.
In this sense, the launch of Petro will allow breaking the anchor of the Dollar and the sanctions imposed by the United States. This currency represents a new form of world trade, which escapes from speculators such as International Banks or Risk Rating Agencies. Currently, a perverse mechanism called Dollar Today is used, which has not allowed the Venezuelan State to set a Bolivar-Dollar Parity, because it makes it inoperative by inducing devaluations at will, thus Petro will be the definitive death of DolarToday. It should be noted that experts such as Emilio Hernández, Víctor Theoktisto, and José Ruiz point out that Petro is still not a cryptocurrency but a Token or interchangeable chip for oil that may evolve into currency as long as it is accepted as a means of exchange.
Likewise, the Superintendence of Cryptoactives and Related Activities in Venezuela, under Decree No. 3.196, considers the Petro an interchangeable Cryptoactive for goods and services and for fiduciary money in the exchange houses of national and international cryptoactives, as well as exercising functions of commodities since it can be used as a financial refuge instrument for its support in oil.
Many successes are predicted in the launch of this cryptoactive with great support