Venezuela Launches State-Owned Crypto Petro
Venezuela launced its state-owned cryptocurrency Petro. The token is available for purchase from the country's treasury or on 6 cryptocurrency exchanges for fiat and crypto.
The Venezuelan Economy Department made the announcement via Twitter on October 29.
Petro can be purchased from the Venezuelan treasurey via the token's official website website offers Petro for fiat including USD, euro, and yuan. Petro is available on 6 small cryptocurrency exchanges - Bancar, Afx Trade, Cave Blockchain, Amberes Coin, Cryptia, and Criptolago - authorized to trade the token. It can be purchased with BTC, LTC, ETH, and DASH.
Venezuela's president Nicolas Maduro suggested the development of a state-owned crypto almost a year ago. Since then, he has ordered the issue of 100 million of the oil backed coin, tied it to national fiat, announced that Petro will be used as the unit of account for goods, services, and salaries, and claimed that it will be used for international transactions as well.
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Iran is also planing for its Crypto
Have a look at
https://steemit.com/cryptocurrency/@shahhasan29/after-venezuela-petro-russia-and-iran-considering-crypto-for-trade-through-iran-s-new-national-crypto-currency
With his track record of seizing anything he wants from the private sector I would not trust him to back this either.