Bitcoin, Crypto currency, Blockchain

Petro: A Listing makes no (good) crypto currency

0e147bd4680191db7ffc122393fcdf72 - Petro: A Listing makes no (good) crypto currency

Venezuela’s government crypto-currency, Petro had to lose a lot of criticism. Many doubted the meaningfulness and the before it was officially available. However, since the 17th century. October may the lists of the six crypto-exchanges the Petro. The first signs don’t look good, however, and no improvement in sight.

Since the 17th century. October six Venezuelan crypto-exchanges authorized to list Venezuela’s government crypto-currency, the Petro (PTR). Including Bancar, afx, CAVE BLOCKCHAIN, Amberes, Cryptia and CriptoLago. All of these crypto-exchanges have a trading license from the government. Apparently, this license is no good, but only conditionally as a seal of quality. Because two of the licensed crypto-exchanges only work to a limited extent. In the case of afx users could be not to register and CriptoLago not on the trading venues to access.

No use, no exchanges

Apart from that, has been listed at the time of writing CAVE BLOCKCHAIN is the only stock exchange in the Petro. The Status in Bancar could not be verified, because a registration including KYC was necessary.

In addition, none of the “six most powerful” crypto-exchanges, with which President Maduro is in talks with the Petro. On 1. October, noticiero digital, Maduro announced that the government, with the “six most powerful crypto-exchanges of the world” work. The name of the crypto exchanges he called.

Maduro’s willingness to work with crypto exchanges to cooperate, in contradiction to the attitude of the government of the United Kingdom. Until recently prevented the local government the issue of the state, gold-backed crypto-currency the Royal Mint in Gold, because the risk of image damage in case of cooperation with a crypto-exchange is too high.

Anyway, the few crypto-exchanges, but would explain at least the lack of use of the Petros. Since the Genesis block of 13. October have just been created 242 blocks. For comparison: In the case of Ethereum, since the beginning of 2015 daily minimum of approximately 3,000 blocks generated.

Stronger petrochemical use is unlikely

Taking into account the criticism of the Oil Coin is the reluctance of the users and crypto-exchanges to understand. Among other things, prohibition of the U.S. President Donald Trump’s trade with each of Venezuela issued crypto-currency. Also called several U.S. senators to impose sanctions against the Petro to extend and expand. Doubts on the economic meaningfulness or plagiarism is suspected, exacerbate the situation. The Listing of the Petros in the case of crypto-exchanges – the “most powerful in the world” or not –will not eliminate these problems.

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