Will the cryptocurrency be the salvation of the Venezuelan economy?
Cryptocurrencies a highly volatile market ...
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There is the possibility that some cryptocurrency multiply their values in high multiples if they manage to consolidate in strategic markets, reading through the web the five currencies that could have an increase in 2018 are:
CARDANO: USD 0,764
IOTA: USD 3,996
NEO: USD 87,000
RIPPLE: USD 2,080
GOLEN: USD 1,000
Many people think that the cryptocurrency will be the currency of the future ... Venezuela is currently preparing to implement the so-called "PETRO" since inflation devalued the bolivar and has completely declined, practically without value and the flow of it is minimal, people they have to stand in long lines at the banks to obtain a minimum of cash, and the ATMs are not yet fully adequate to the new monetary cone implemented last year.
Will this be the solution for us Venezuelans?
The first cryptocurrency was Bitcoin and was born in 2009, the year in which the deceased president of Venezuela Hugo Rafael Chávez Fría made a failed attempt to implement EL PETRO, an international currency project backed by oil reserves. An idea not consolidated until now by the current president Nicolás Maduro.
Fuente: Página web: http://www.vtv.gob.ve/
How much will the petro be worth?
The initial value will be set by the government, in any case if a petro is equivalent to a barrel of Venezuelan oil it would currently be worth $ 61.42.
So far it has been announced that it can be purchased in two ways: Direct and in Auction, it is expected to implement exchange houses to buy petros in bolivars and in turn can be exchanged for dollars.
According to some, this is to eliminate paper money, since it is one of the causes of inflation, according to some analysts, is the printing of bills without support.
"The petro represents the dollarization of Venezuela's economy, and investors should not underestimate the potential of this change," says David Osorio, president of Davos Financial Group, a Miami-based financial advisory firm.
The state of the economy in Venezuela is so serious that only a drastic change, such as dollarization, could generate a positive environment in the country.
The unique registry of Digital Mining to obtain access to the petrobras opened on December 22, 2017 and will remain available until January 21, 2018 and will be essential for those who want to acquire the cryptocurrency.
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I believe that a crypto currency could be beneficial for third world countries that have extremely high inflation rates. Though, bitcoin may prove to be to volatile to help a country, another crypto could be very beneficial.
Of course not!! In Venezuela there is a Exchange Control.
Si el petro si se establece como es puede contribuir muy positivamente a la economía, espero que el gobierno pueda manejar bien esta tecnología y que no lo eche a perder
My personal opinion is that if it could benefit, of course implementing a good platform and that the project is executed by experts in the field, if the government does things right they could take advantage of the petro, and improve the economic crisis, I believe that for the current situation this would take a couple of years but it would be the beginning.