President of Venezuela Raises Minimum Wage to Half a Petro
Technically, Petro can be bought with the help of Bitcoin and Litecoin from both the Venezuelan Central Bank and the local exchanges.
Technically, Petro can be bought with the help of Bitcoin and Litecoin from both the Venezuelan Central Bank and the local exchanges.
Venezuelan President Nicolas Maduro asked airlines to pay for fuel using the PetroCard that will convert their currencies into Petro for payments.
Venezuelan President Nicolás Maduro announced the government will pay half a Petro to 4,500,000 retirees and 3,500,00 public workers as Christmas bonus.
Maduro believes in the power of cryptocurrencies like Bitcoin and Ethereum. He says that his cryptocurrency-powered plan will help the country “maintain [the flow of] imports and exports.”
President Donald Trump has signed an executive order, immediately prohibiting access by the Venezuelan government to any of its assets within the jurisdiction of the United States.
Venezuela and Russia are discussing an option to use the Ruble and the Petro in their mutual trade settlements.
In March, Russian State Duma will review the regulation of cryptos. If approved, the new law will allow Russia to continue its development in the crypto sphere.
Though there were a lot of doubts about the existence of the Petro, now it is obvious that this oil-backed crypto really exists.
MIT Technology Review published an article, providing an overview of the recent history of blockchain and explaining why it will start to become mundane in 2019.
In 2019, Venezuela will start selling oil in exchange for Petros and bypass US-imposed sanctions.