Venezuela is planning a national currency, in part, on a cryptographic switch
Home uncategorized Venezuela is planning a national currency, in part, on a cryptographic switch
Matthias Nemack –
For about a year, there is the Petro. Now the crypto-currency in Venezuela is to be an official part of the state currency system.
Maduro speaks to the Petro new importance for the country to
It’s been months, more or less clearly, that Venezuela in the fight against the massive Inflation and the General economic problems, would like to put on a private digital currency. This will not develop similar successful as the big names of the industry such as Bitcoin or Ripple. Just because a state is involved. However, it was known that President Nicolás Maduro will not want to use the new “Petro” only as an Alternative to the state currency. Rather, the crypto-currency is to come, even in Parts, as a new national currency.
Great doubts about the Success of the project
Whether, and how, exactly, the changeover can now announce actually, the Hyperinflation, the fight is in dispute. Many experts expect the Petro-hardly any chances in this regard. In fact, the proposed part-digital currency reform, in particular the US Dollar, and the sanctions by the economic and political opponent of the country to oppose a new Instrument. Head of the government, Maduro addressed in opinions, in this context, especially against the United States, as well as your Partner the wear, in its opinion, a large proportion of the blame in the problems in Venezuela. Politically, especially in the beginning of Maduro’s second term is a reason for the harsh words.
State-owned enterprises must use the Petro also
At this point, but it is much more interesting that once again a whole country would like to switch to a digital currency. An example of the thoughts of turning state companies need to immediately reach a share of 15 percent of their sales in the crypto-currency Petro. For about a year, the currency now exists, it is based in terms of hedging on the oil resources of Venezuela.