Search results for "Venezuela"
Venezuela will make an attempt to present the Petro as a unit of account for crude oil trading to the Organization of the Petroleum Exporting Countries (OPEC) next year. Manuel Quevedo, the President of the country…
Venezuela is currently going through a challenging economic period. The IMF predicts inflation may reach 1,000,000% by the end of 2018. As a result, many merchants and consumers are looking to use cryptocurrencies to trade products and save money.
Venezuela’s President Nicolas Maduro made an announcement about a Petro backed Bolivar, but these radical changes weren’t official. Many doubted this…
The Petro is seen by President Maduro’s supporters as a reliable and innovative way out of the country’s very harsh economic reality.
We have written several times about Venezuela’s Petro and how it was being developed. Now, it seems that Russia is planning to accept the Petro for some international transactions. The measure can be seen as a way to support the Venezuelan regime that has been several times sanctioned by western countries including the United States and the European Union (EU).
The president of The United States, Donald Trump, has recently signed an executive order which has a few or more perks attached to it. It can be estimated from the recent report that the trading of the cryptocurrency (Petro) issued by Venezuela is legally prohibited.
The President of Venezuela, Nicolas Maduro said that Venezuela had received 735$ million in the first day of the pre-sale of the national cryptocurrency petro. Currently there is no evidence for the invested capital that was presented. He added that tourism, gasoline and oil transactions could be made with petro.
As science moves forward, exponentially picking up speed, and the world is starting to reveal at the advances in technology that radically change the way we live and think, even the most traditional countries start to awaken to the concept of technological innovations. Some countries implement blockchain to try to create a real democracy, not […]
Venezuela, a country involved in a deep political and economic crisis has launched its cryptocurrency known as Petro. But some countries have already refuted possible transactions with this new virtual currency. Argentina and Poland, two countries with different economic, social and political ties with Venezuela have stated that they will not use the Petro for their products or services.
We have heard about Venezuela’s oil-backed national cryptocurrency “the Petro.” The cryptocurrency has been launched some days ago, with a very limited support. Now, Nicolas Maduro has ordered consular services and gas stations to accept different cryptocurrencies, including the petro. At the same time, he hinted the possibility to create another cryptocurrency backed with gold.