the new promise of venezuela to get out of the crisis
The PETRO (PTR) will be backed by the Bolivarian Republic of Venezuela and the wealth of its large reserves of crude oil. More importantly, Petro has been created in an innovative way, using the highest standards in block chain technology and information security and thinking of a future where electronic asset representations facilitate more direct trade between emerging nations as well as the work of the State within the framework of true financial and economic independence.
why petro?
During the last 4 years Venezuela has experienced the biggest financial crisis in its history, a situation that has resulted in a devaluation of its national currency, the bolivar.
Within the framework of policies to strengthen monetary sovereignty and promote welfare by bringing power closer and closer to its citizens, the government of the Bolivarian Republic of Venezuela has decided to embark on an ambitious project for the future with the vision of converting the country into a center for the creation of solutions based on blockchain technology for emerging economies.
The Petro will be the foundation of a policy of development, creation of technological infrastructure and training of young people in the areas of electronic mining, programming, cryptography, network security and economy 4.0, which will make it possible to take advantage of the value of Venezuela's most valuable assets and Developing countries in a new world of transparent markets, deconcentrated and free of manipulation, all thanks to technology.
PETRO backing (extracted from the Technical Sheet)
The most important contribution of PETRO to the cryptoactive market and the new digital economy will be the support offered by a sovereign State.
The Bolivarian Republic of Venezuela guarantees that it will accept PETRO as a form of payment of taxes, fees, contributions and national public services, taking as a reference the price of the barrel of the Venezuelan basket of the previous day with a discount *. In this way it will be guaranteed that the buyer always has a recovery value adjusted to that of his investment.
Payments in PTR will be accepted according to their value in bolivars at the rate resulting from the operations of the authorized exchange sites, determined by market mechanisms and in accordance with the legal dispositions issued by the competent authorities of the Republic. Additionally, the Venezuelan government is committed to promoting the use of PETRO in the domestic market and making efforts to encourage its acceptance throughout the world.
Formula is
PETRO backing (extracted from the Technical Sheet)
The most important contribution of PETRO to the cryptoactive market and the new digital economy will be the support offered by a sovereign State.
The Bolivarian Republic of Venezuela guarantees that it will accept PETRO as a form of payment of taxes, fees, contributions and national public services, taking as a reference the price of the barrel of the Venezuelan basket of the previous day with a discount *. In this way it will be guaranteed that the buyer always has a recovery value adjusted to that of his investment.
Payments in PTR will be accepted according to their value in bolivars at the rate resulting from the operations of the authorized exchange sites, determined by market mechanisms and in accordance with the legal dispositions issued by the competent authorities of the Republic. Additionally, the Venezuelan government is committed to promoting the use of PETRO in the domestic market and making efforts to encourage its acceptance throughout the world.
Formula is
