Maduro announced the creation of cryptocurrency system for Venezuela
Maduro announced the creation of cryptocurrency system for Venezuela.
This digital currency, called "the Petro", will be backed by gold, oil, gas and diamond reserves 💰💱
The President of the Republic, Nicolás Maduro, announced on Sunday that the government will begin the development of a cryptocurrency system to look for new forms of financing and thus have an alternative to rescue the national economy.
He explained that the value of this new digital currency, called "the Petro", will be backed by the reserves of gold, oil, gas and diamonds.
"The new cryptocurrency system will be based on reserves of natural resources to advance the economic development of the country," he said in a broadcast of his weekly program.
He affirmed that this system will allow citizens to carry out different transactions.
He justified the creation of this currency in the face of the supposed "international financial blockade" of countries that are powers of the world against Venezuela.
Best of luck to the Venezuelans. If Maduro carries out this initiative properly and effectively, it just might succeed.
Of course, he will face numerous obstacles, not least the ire of the US for abandoning the petrodollar.
But since the petro will be backed by Venezuela's oil, gas, and diamonds, who knows? It might be more successful than anyone can even imagine now.
Without a doubt, it could work, I believe that everything is at the level of confidence that maduro generates at the moment of implementing the petro in Venezuelans, and an important role will also be played by the advice that the government of maduro will take, since it will be a new course to try to get out of the economic crisis that the country is experiencing..
Just like with Chavez, most of the "news" that we hear about Maduro is very negative. But from what I've read in your post and other alternative news, he's not as bad as the mainstream press says he is.
Let's hope this initiative works, and Venezuela overcomes the crisis. Best of luck!
thank you very much. Hopefully, if it is a way out of the economic crisis that we really need to solve, in my last post I documented the last announcements of a deputy of the National Assembly Andres Guevara who among his studies is an expert in finance at the Institute of Higher Studies in Management ( IESA), and has given a report on the opinion of the Venezuelan right, we will have to wait for more announcements from the left as President Nicolas Maduro to learn more about the mechanism of action of this now expected cryptocurrency in Venezuela.
I invite you to read my last post. regards 😊
Welcome to the jungle