It is the first cryptocurrency created by a government and is based on block chain technology and it is also the first cryptocurrency that is backed by different natural resources such as gold, diamonds, gas and mainly oil, but this does not say that if you buy a petro you can exchange it for a few pounds of gold, diamonds, gas or oil nooo! You are very wrong because you can only change it for the price of each of these resources in sovereign bolivars since until now this is what is known about the change of the petro. The initial offer began on March 20, 2018 at 08:30 a.m. with 44,000,000 petros available for sale with a reference sale price of 60 USD (the price that was the barrel of oil) and the sale of the initial offer will close until the petros of the initial emission run out, until now I have not read or known to someone who has a petro.
This cryptocurrency could help the Venezuelan economy a lot because if all Venezuelans have access to the petrowallet and can buy the petros and then exchange them to any physical currency in the world it would be great and we would not depend on the misery that the government gives us or lets us do it, but as we all know it is a cryptocurrency created by them, which only they will have control of all the transactions that you make with the petros and there will always be limits for purchases and sales, but to my thinking this cryptocurrency giving it a good use and releasing it worldwide and clear leaving everything transparent would be a way out of the crisis through which the country passes.
Personally, it seems absurd to me that they have anchored in salary at the price of petro because as we all know, cryptocurrencies do not have a fixed price, so the price always varies and is almost always descending, so the worker will never have a fixed salary due to the drop in the price of petro, but this if in each case this cryptocurrency is accepted or offered at a level that I doubt very much because there is already talk that the petro is a fraud according to experts in cryptocurrencies and one of them is the American economist Steve Hanke.
He said it via @steve_hanke: "As expected, nobody is using the petro. The currency is not sold in any of the most known cryptocurrency markets and no store receives it. The petro is a fraud ".
This was said by Henke when commenting on a Reuters note about the petro. "The petro has been hard to find. Over the course of four months, Reuters spoke with a dozen experts in cryptocurrencies and in evaluation of oil fields, traveled to the place in Venezuela (Atapirire, in which settle the oil reserves that President Nicolás Maduro assigned to the petro) and evaluated transaction records. The search dredged up little evidence that petro is being used. The currency is not sold in any recognized cryptocurrency market and few tend to accept it. "
"Senior Venezuelan officials have given contradictory statements. Maduro said that the sales of the petroleum have reached 3,300 million dollars and that the currency is being used to pay for imports. But Minister Hugbel Roa told Reuters on Friday that the technology of the petro is still in development and that "nobody has been able to use the petro".
Cryptocurrencies are making their way as a payment method worldwide and these can change the direction of the future of the economies of many countries on a large scale, so if you are very interested in investing in something that is really worth it, they are the cryptocurrencies that in the long term can provide us with many gains. For bad luck the petro is still a long way from getting recognized in the cryptocurrency markets, so I recommend that you do not invest a single means in them because until now they do not know much about them and there is no many clear things.
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