The President of the Bolivarian Republic of Venezuela, Nicolás Maduro, announced the creation of a Venezuelan crypto-currency, within the framework of his Sunday program “Los Domingos con Maduro” (Sundays with Maduro), held during the closing of the International Fair of Science and Technology (FICTEC) Jacinto Convit.
“I want to announce that Venezuela is going to implement a new crypto-currency system based on oil reserves. Venezuela is going to create a crypto-currency, “the petro-coin”, to advance in the matter of monetary sovereignty, to make its financial transactions, to overcome the financial blockade (…) it will be made with an issuing of crypto-currencies backed by reserves of the Venezuelan wealth in gold, oil, gas and diamonds”, he reported.
With the incorporation of this powerful economic and technological tool, Venezuela joins the 21st century era in this matter, which will boost the economic recovery of Bolívar’s Homeland.
