Venezuela will sell oil and part of the gold it produces for its national petro cryptocurrency, said the country's president, Nicolas Maduro.
He told the local newspaper El Nacional: "We will sell Venezuelan oil for gasoline. We already sell Venezuela's iron ore and steel for Petros.
"We have already signed contracts to sell oil, steel, iron and aluminum and will sell part of the gold to Petros."
<p class = "Canvas-Atom Canvas-Text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "According to Maduro, the government is successfully leading its Venezuelan cryptocurrency in everyday life – although many experts claim otherwise."data-reactid =" 21 "> According to Maduro, the government is successfully introducing its cryptocurrency into the everyday life of Venezuelans – although many experts claim otherwise.
In December, the country's authorities transferred to Petros retirees and public sector benefits due during the New Year holidays.
The Petro is a miracle and a miracle that our workers and pensioners of the country can reach to do their shopping. It is a unique and extraordinary new experience of our economy. We are a role model for the world! pic.twitter.com/XNzbINfOsp
– Nicolás Maduro (@maduro_de) December 29, 2019
Maduro announced the launch of the national petro cryptocurrency in October 2017. The sale started on February 20, 2018. The cost is the price of a barrel of oil produced in the country.
Millions of Venezuelans have left their country since 2013 because the economy has collapsed and schools and hospitals can no longer offer basic services.
They fled to neighboring countries such as Peru, where almost 70,000 Venezuelans lived.
In September, Christina Comben of Coin Rivet wrote that cryptocurrencies like Bitcoin and Dash have become increasingly important due to the economic turmoil in Venezuela.
<p class = "canvas-atom canvas-text Mb (1,0em) Mb (0) – sm Mt (0,8em) – sm" type = "text" content = "BTC trading volume According to LocalBitcoins, the region is high and Dash has also made up a lot of ground with instant transactions and SMS payments. "data-reactid =" 29 "> According to LocalBitcoins, the BTC trading volume in the region is high, and Dash has also gained a lot of ground with instant transactions and SMS payments.
In July 2019, Maduro ordered the country's largest bank to open special desks for the country's cryptocurrency.
The South American leader issued a government order to instruct the Banco de Venezuela to house the petro in all 790 stores.
<p class = "canvas-atom canvas-text Mb (1,0em) Mb (0) – sm Mt (0,8em) – sm" type = "text" content = "Many cybersecurity experts say that the Petro develops with the help was from Russia, is a Attempt to evade US sanctions."data-reactid =" 32 "> Many cyber security experts say that Petro, developed with the help of Russia, is an attempt to evade US sanctions.
<p class = "canvas-atom canvas-text Mb (1,0em) Mb (0) – sm Mt (0,8em) – sm" type = "text" content = "The contribution Venezuela sells oil and gold for the petro cryptocurrency first appeared on Münzniet, "data-reactid =" 33 "> The post-Venezuela sale of oil and gold for the petro cryptocurrency first appeared on Coin Rivet.