Venezuelan President Nicolas Maduro announced the creation of his own cryptocurrency, which will be called El Petro. The cryptocurrency will be supported by the country's oil, gold, gas and diamond reserves.
A cryptocurrency office has been created in Venezuela, headed by lawyer Carlos Vargas.
The President noted that the creation of El Petro will help circumvent the restrictions of sanctions and announced the creation of a “blockchain observatory” in the country.
According to him, cryptocurrency will become the basis for the restoration of the country’s economy in 2018 and that the idea originally belonged to Hugo Chavez.
It is noted that all residents will be able to get access to the state-created cryptocurrency Petro country.
Recall that a month ago the Venezuelan authorities introduced into circulation the largest banknote in the history of the country - 100 thousand bolivars. The introduction of a new banknote became necessary due to the extremely high level of inflation - next year inflation could reach 2300%.
According to https://www.gazeta.ru
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