The concept or idea of ​​cryptocurrency was first described by Wei Dai, in 1998, where he proposed the idea of ​​creating a new type of decentralized money that used cryptography as a means of control, while the first cryptocurrency that was created was Bitcoin, created in 2009 by the pseudonymous developer Satoshi Nakamoto, which uses the set of cryptographic functions.

In mid-2017, Venezuela announced the creation of a national cryptocurrency, which they have dubbed "El Petro", and which will be backed by the country's reserves of oil, natural gas, gold and diamonds. The objective of this measure is to "move towards new forms of international financing for the economic and social development of the country."

THE CRIPTOMONEDA IS EVERY MORE POPULAR IN VENEZUELA AND THE WORLD.

The Venezuelan Observatory of Technology Blockchain believes that the Petro is emerging as one of the safest crypto-active in the world for investors, to have sustenance of the nation's oil reserves and to be the first cryptocurrency issued by a State.
Likewise, he indicated that the positioning of Petro will have a lot to do with the value of oil reserves, by counting Venezuela with the largest of this resource in the world. Unlike the more than 1,500 existing cryptocurrencies worldwide, including the pioneering Bitcoin and Ether, the Petro is the only one that has physical support to be supported with 5,342 million barrels of field 1 of the Ayacucho Block of the Oil Belt of the Orinoco.

"The Petro is very interesting because anyone, regardless of where it is located on the planet, can buy it in freely convertible currency. The Venezuelan cryptoactive can be used to acquire goods or services and will be redeemable for fiduciary money and other cryptoactives through digital exchange houses.
In addition, it may exercise the functions of a digital representation of goods or raw materials and serve as scaffolding to create other digital tools oriented to trade and national and international finance.

For the economist:
Leonardo Galindo, the Petro stands as a source of important financing and can contribute to the development of the economy by receiving money to capitalize a new currency that serves to move the local economy.

Luis Enrique Gavazut points out that the Executive's proposal, due to the conditions it has, will allow the capture of capital through foreign investment.

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