Bitcoin, Crypto currency, Blockchain

Venezuelans will have to pay passes now with Petro

As of today, Monday, may 8. October, are committed to the people of Venezuela to use the controversial currency Petro. In order to receive a passport of the Republic of Venezuela, it is now necessary to pay the state of crypto currency. Most likely, this new decision is a response to the decision of many people to leave the country.

The humanitarian situation in Venezuela continues to deteriorate. The ongoing economic crisis not only leads to forfeiture of the currency and the impoverishment of the people in the country, but also to a General scarcity of Goods. Empty shelves in the super markets. More and more, and especially the young Venezuelans are leaving their homes, up to 5,000 people on a daily basis, such as the United Nations estimate.

Exit is also more difficult

For those who want to go, is to leave the country as of today, still a little heavy. As the Venezuelan Vice-President Delcy Rodriguez on Friday, may 5. October, announced that it must make use of the citizens of Venezuela for the creation of your passport is mandatory and the Petro-as a means of payment. Thus, the government wants to go a further step in the adaptation of the Petro, which is to apply in the near future as a natural means of payment in Venezuela.

The new passport will cost two Petro, currently approx. 7.200 Bolivar, or 115 US dollars. The reasonably stable exchange rates, owes the government of Maduro’s a kind of sleight of hand, the petrochemical and the Oil. Venezuela had tied in the course of a currency reform, the Petro to the Barrel of Oil, at the same time the exchange value of the Petro-of the devalued Bolivar. Thus, a fixed exchange rate to the US Dollar is now dependent on Oil.

This was also part of the Plan, the emigration of a willing population in the country. Finally, the need to equip citizens for the acquisition of a passport now, with the necessary Petro.

Quo vadis, Petro?

The Petro-self, however, remains controversial. A recent analysis of the White Paper had shown that the state of crypto currency is very similar to the Privacy Coin Dash. Also, in General, the suspicion that the Petro from the point of view of the Maduro government is more a means to an end than a true Opening up to the global crypto Economy is intensifying. It remains to hope that the poor country will get the curve.

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