This Sunday, the President of the Republic, Nicolás Maduro, announced the implementation of a new system of crypto-currencies, being the first of these the Petro, which will be supported in the natural strategic reserves – oil, gold, diamonds – of the country.
With this mechanism the National Government seeks to break the dependence on the dollar and the international financial blockade imposed by the administration of Donald Trump, as said the economist Andrés Giussepe, during an interview on the “Encendidos” (Turned On) program on VTV.
“The Petro emerges as a revolution within the crypto-currencies”, he continued, pointing out that this digital currency has the support of the natural riches of a nation unlike the Bitcoin, which is not backed by any Government, nor is dependent on trusting a central issuer.
Seven years ago, the value of Bitcoin, the first crypto-currency launched to the digital market, was at one dollar, and currently it is at 12,000 dollars, that is, “whoever had 100 dollars (in Bitcoins), today has 12,000 dollars. If people trust that, which does not have any support, no physical support, imagine launching a crypto-currency supported by the Venezuelan oil reserves”.
The economist pointed out that crypto-currency is a trend for commercial exchange in the financial market. “All this is part of the debate to seek independence and sovereignty, and above all, the Venezuelan financial dominance”.
