The president of Venezuela Nicolas maduro has recently order banks in the country to start using Venezuela’s national cryptocurrency petro (PTR) in its day to day operation, citing that the oil backed state cryptocurrency will be use to replace the countries fiat currency.

Resolution has been passed by the sudeban Venezuela banking sector! The financial institutions will be regulated and required every financial information and transaction is reflected in the national cryptocurrecny petro(PTR) beside the country’s fiat currency.

Many analyst has made a very right suggestion that the petro is the only way the South America country could overcome its financial and economical challenges citing the fact that they have been some western pressure is putting an end to the country’s national state backed cryptocurrency.

The south America country has been with some economical situation which has seen over 2 million of it citizens has flee the country because of its economic situation which was cause by sky rocketing inflation for last half a decade. The International Monetary Fund has projected that the inflation rate in Venezuela will hit a figure of over 500000 this year.

The Venezuela’s national cryptocurrency petro(PTR) was launch this year with the sole aim of accessing international financial sanction from The United State! At this time of writing this post it was unclear to the CoinMap whether the the petro(PTR) could be able to survive the economic sanction from the United State.

As TheCoinMap reported that the new Venezuela national cryptocurrency will now be pegged its national fiat currency there by limiting the influence of The US dollar over The petro.

Continue reading here https://thecoinmap.com/venezuelas-national-cryptocurrency/

Cryptocurrency is obviously the future!!

Hugo Chavez will be weeping in his grave. Venezuela is really struggling.

post=70765590:
Cryptocurrency is obviously the future!!

Yes ohh bro its the future

Caseless:
Hugo Chavez will be weeping in his grave. Venezuela is really struggling.

Yeah US sanction affect them so much

Time to go shop bad bitchis from Venezuela