Venezuelan President Announces National “Petro” Cryptocurrency
OREANDA-NEWS Venezuelan President Nicolas Maduro announced the launch of the website for the purchase of Venezuelan cryptocurrency El Petro, which will be available from November 5 for the national currency. It is reported by El Nacional.
"Today (on Monday) a new stage begins, we are launching the national Venezuelan blockchain, which will have its center in Venezuela and will be developed by national professionals and scientists, this will be the basis of the entire development plan of Petro for 10 years," Maduro said on state television.
According to him, citizens will be able to buy cryptocurrency on the website www.petro.gob.ve, also on the territory of Venezuela will operate six exchangers.
Since Monday, all the mechanisms are launched so that any Venezuelan can register and participate in the "Petro" program, buying it for convertible currency. "And from November 5, Petro will be sold for sovereign bolivars," Maduro said.
He said that on Monday there were attacks from the United States, France and Colombia on the website "Petro" in order to prevent the beginning of its turnover.
The Venezuelan President announced the creation of a national cryptocurrency in December 2017. In January, Maduro instructed to release 100 million Petro. In February, started the official sales of the cryptocurrency, according to the results of the first day the amount of pre-sales Petro reached $735 million Is the first cryptocurrency, which provided oil. Thus, Venezuela itself became the first country with its own cryptocurrency, which is supported by oil reserves. Previously, Maduro determined the cost of one" Petro " in the price of one barrel of Venezuelan oil, or 60 dollars (3.6 thousand new sovereign bolivars).
Later, the Bolivarian leader instructed the oil company PDVSA, petrochemical Petroquimica de Venezuela (Pequiven) and the mineral extraction Corporation CVG to make part of the transactions for the national cryptocurrency. In March, the initial placement (ICO) of El Petro began. In late September, Maduro announced El Petro's entry into the international market since early October.