The President of the Bolivarian Republic of Venezuela, Nicolás Maduro, said Monday that 2018 will be the year of the consolidation of Petro; the first crypto-currency supported by the natural and mineral resources of a country, with the aim of overcoming the financial encirclement applied by the great powers.
“This year we are focused on consolidating the Petro startup. We have taken all the steps that have to be taken so that it will be at a national and global level”, said the Head of State during his Annual Message held at the Federal Legislative Palace.
“The consolidation of the crypto-currency, the Petro, will be the center of the financial policy of this 2018”, added the National President, as well as exhorting the entire Venezuelan society to join this powerful movement.
The Head of State emphasized that this crypto-currency will be backed by the nation’s oil wealth, and will have the value of a barrel of Venezuelan crude oil.
“Each Venezuelan petro is going to have the support of a barrel of oil. Fortunately, the barrel of oil is roughly at $60. Already recovering. The petro will have the base value that the Venezuelan oil barrel has”, he said.
“With the rules of the game of the crypto-currency system, we are sure that the price variables of our petro will oscillate upwards”, he said.
He thanked the support provided by more than 50,000 miners who are in the country and who joined the mining system of the Venezuelan crypto-currency.
On the other hand, he pointed out that workers in crypto-currency mining will have the support and protection of the Venezuelan State, so that this sector “makes its contribution to the economy, to the country’s finances,” he said.
