Maduro allowed to extract Petro throughout Venezuela

As previously we Reported The Venezuelan government officially launched the preset for its crypto currency Petro (PTR).

As reported by Venezuelan news agencyPresident of Venezuela Nicholas Maduro gave permission to allocate resources in order to create the entire country of student farms for the production of crypto currency.

The head of Venezuela also gave permission to all savings banks to participate in the process of creating a digital currency and acquire it. According to the President of Venezuela, there are already investors who have expressed a desire to acquire Petro for about 735 million dollars.

Recall that the creation of its own crypto currency Venezuela forced the socio-economic crisis in the country. For several years the country has been experiencing a devaluation of the national currency and a rapid rise in prices.

According to the National Assembly, inflation in the country in 2017 exceeded 2600%. This year, according to some experts, this figure may amount to 14000%.

I must admit that Venezuela is the first country officially issued its own crypto currency and is a pioneer in this field. It will be very interesting to see how this experiment ends. Indeed, in the case of its successful implementation in real life, the view of crypto-currencies from the side of many skeptics can change very much.

Author: Yevgeny Yakubenko, AnalystFreedman Club Crypto News

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