Now elderly people in Venezuela will get their monthly pensions in the Petro, despite the fact that it still can’t be used.
In 2019, Venezuela will start selling oil in exchange for Petros and bypass US-imposed sanctions.
A new initiative of Venezuela aimed at boosting Petro adoption presupposes making it the main digital currency backed by oil.
Effective from November 1, the cost of issuing new passports is 2 Petros while that for the extension will be 1 Petro, said Venezuelan vice president Delcy Rodriguez
Venezuelan president Nicolas Maduro officially announced the public sale of the controversial national cryptocurrency Petro, which is set on November 5.
Report suggests that there is no circulation of Petro inside or outside of Venezuela and all the hype relating to it is just a big bubble that can burst anytime.
Seeking to get out of the rampart economic crisis, Venezuela bets it all on new national currency anchored to controversial “Petro” token.
The lawmaking bodies have denounced the creation of Petro calling it absolutely unconstitutional, a fraud and a potential threat to investors.
After launching Petro, Venezuela’s President announced new ‘Petro Gold’ cryptocurrency. He considers it a means of combating the U.S. sanctions, while the U.S. warns about risks for investors.