Good steemians on this occasion I bring you information about the Venezuelan cryptocurrency (the Petro) I hope you like it.
The president of Venezuela, Nicolás Maduro, announced that next Sunday, January 14, the Petro White Paper, the cryptocurrency promoted by the Venezuelan government, will be presented during the First National Meeting of Petro Miners.
Maduro also announced that the network that will support what could be the first government cryptocurrency in Latin America will be centralized, since the state will be in control of the cryptocurrency since it will operate under a "security system for pre-mining". This strategy is aligned with the regulatory policies of the Russian cryptosubject.
The Venezuelan head of state announced that the initial emission of Petro will be 100 million units, an amount that is backed by the same amount of barrels of oil since according to the official gazette "each unit of PETRO will have physical support, a purchase-sale contract for one (01) barrel of oil from the Venezuelan crude oil basket or any commodities decided by the Nation ".
It must be remembered that the government of Venezuela established in article 4 of Decree No. 3196, published in the official gazette, that the Petro will initially be distributed "through an auction or direct placement" by the Superintendence of Cryptoactives of Venezuela, body created to "rule" the Venezuelan cryptocurrency.
Also, the Venezuelan president declared that the financial strategy with which they intend to position Petro within the cryptocurrency markets is using cryptocurrency exchange houses. Aspect to which he added that they are already experimenting, "in trial period". It is estimated that each Petro will be exchanged for the equivalent of the price of a barrel of Venezuelan oil, which is currently $ 59 dollars.
The financial strategy to achieve the placement of Petro in the national and international markets will be under the use of virtual exchange houses. The exchange houses will be those that provide the structure for the secondary negotiation of the cryptoactive Petro, where buyers and sellers will open and close positions.
Nicolás Maduro President, Bolivarian Republic of Venezuela
It is important to highlight that Maduro, during the first council of ministers of the year in which economic announcements were expected, called on the international exchange houses interested in participating in the purchase and sale of Petro, a fact that stands out due to the lack of regulation that exists at the moment for change houses of cryptocurrencies and the iron exchange control imposed in Venezuela for more than 10 years.
El Petro: one month from the announcement
President Maduro indicated the government's commitment to promote Petro as an alternative to the economic sanctions imposed on Venezuela, asserting that just one month after the announcement of the creation of the Blockchain Observatory in Venezuela, progress has already been made on the agenda established with the creation of the National Association of Cryptocurrencies, the legal allocation of national reserves that will support Petro, the creation of the Cryptoactive Superintendence of Venezuela and the National Registry of Miners.
With regard to this last instance, Maduro said that at the moment 90,000 miners have registered, of which more than 50,000 are mining at this time. Nothing indicates that Petro is mining, because the token has not yet been released to the market. But this figure gives an idea of the mining landscape of the rest of the cryptoactives in the country.
In this sense it is necessary to indicate that there are three types of cryptoactive emissions: those that are based on a chain of blocks of their own and use mining; those that use a chain of blocks, such as Ethereum, to support the emission of the cryptoactives, that is to say, they have preminated where the emitter controls a certain amount of tokens emitted before allowing the mining. A third form corresponds to the ICO, where the amount of tokens issued and the frequency of that emission are established at discretion, without this implying any type of mining.
The Venezuelan leader also assured that the duty of the Venezuelan Cryptoactive Superintendent is "to stimulate, support and protect the country's miners." He mentioned that the plan to avoid damaging residential areas with cryptocurrency mining will be establishing special zones for mining "of the petro and any cryptocurrency". A measure similar to that implemented in China to control bitcoin mining, housing miners in a single city.
Leave me in the comments that you think about this currency. Do you think that this could be dollarizing the country?
and what pros and cons can bring this currency in Venezuela hehe are free to comment, and do not forget to leave your vote if they liked my post would be helping me a lot thanks: D
