Venezuela announced the new currency "Petro Gold" the next day after issuing the virtual currency "Petro". - 24.Feb.2018

What is "PetroGold"

Soon Venezuela leader Nicolás Maduro announced that it will issue a new virtual currency "Petro Gold" within this week.

According to local news agency Telesur, the virtual currency of this time is backed by precious metals.

Surprisingly, Mr. Maduro's announcement took place on Wednesday, February 21, the day after the introduction of oil-backed virtual currency "Petro".

Petro's presales are still ongoing and Maduro says he has already collected $ 735 million already, but there is no evidence to support this.

Shortly after Petro was announced, some Venezuelan parliaments opposed the sale of Petro "it is illegal to use the oil stockpile of the country as collateral and is constitutional violation."

Investors have doubts about the transparency and payment ability of Venezuela.

Meanwhile, Mr. Maduro announced at the speech on television broadcasting that Petro Gold will soon introduce it.

Values are backed by gold

It is not clear whether the Venezuelan leaders are referring to the gold stockpile in the central bank or the undiscovered mineral reserves.

No further details of the new currency are published.

According to Telesur, investors in Brazil, Denmark, Honduras, Poland, Norway and the Middle East are interested in Petro for new payment methods or investment purposes.

No matter how briefly you say, Petro's introduction is not understood, and some users say that JavaScript errors occur when purchasing this currency.

Also, other users are not able to match orders on the Distributed Exchange EtherDelta.

Furthermore, it is not clear which block chain technology this token adopts, and opinion is not agreed whether it is NEM or etheral depending on the press. (Recently, there are many reports of Nem, but initially it was said that it was an Ethariamu)

Virtual currency investors are exploring which block chain technology Petro Gold will use the new virtual currency.