Venezuela Cryptocurrency Petro Oil Reserves Diamonds Inflation. The venezuelan president has announced plans to create a cryptocurrency backed by oil, gas, gold and diamond reserves. The petro would be backed by.
In august, against imf projections that inflation would top one million percent… read more On december 3, 2017, he announced that a new cryptocurrency, known as the petro, will be introduced to venezuela. Maduro said the venezuelan cryptocurrency would be backed by the country's oil, gold, gas and diamond reserves.
Announced In December 2017, It Is Supposed To Be Backed By The Country's Oil And Mineral Reserves, And Is Intended To Supplement Venezuela's Plummeting Hard Bolívar Currency, As A Means Of Circumventing U.s.
In a national address, president nicolas maduro, boldly proclaimed that he would back the token with reserves of oil, gas, gold, and diamonds. The venezuelan president has announced plans to create a cryptocurrency backed by oil, gas, gold and diamond reserves. Maduro said the venezuelan cryptocurrency would be backed by the country's oil, gold, gas and diamond reserves.
The International Monetary Fund (Imf) Expects The Situation In Venezuela To Worsen In The New Year, With Inflation Rates Rising As High As 2,300%.
Venezuela pegs bolivar to cryptocurrency to save country from economic collapse. The petro would be backed by. As the petro is backed by venezuela's oil reserves, it breaks the tenets of bitcoin and other cryptocurrencies, whose values don't derive from a natural resource or government fiat money, but only.
It Will Be Funded By The Country’s Reserves Of Gold, Oil, Diamonds, And Gas.
The exchange rate of the petro. On december 3 rd 2017, venezuelan president nicolás maduro announced the petro in a televised address, stating that it would be backed by venezuela’s. Venezuela is launching a cryptocurrency backed by oil, gas, gold and diamonds.
The Venezuelan Cryptocurrency Petro Hit A Record High On Tuesday, February 15, Reaching A Price Of $57 In The Principal Currency Exchange Agencies In Venezuela.
Venezuela launched the presale of its own cryptocurrency, the petro, today. The aim is to counteract what the left wing leader describes as a financial ‘roadblock’ against the struggling nation, due to american sanctions. The petro has seen an upsurge in value during 2021, with its value jumping from $16 in january to over $50 at the time of writing.
Now, The World Is Watching As Venezuela Becomes The First Country To Ever Peg Their National Currency, The Bolívar, To A Cryptocurrency.
Finance.february 2018 it introduced the petro, a cryptocurrency (similar to bitcoin) whose value was tied to the price of one barrel of venezuelan crude oil and was backed by the country’s reserves of gas, oil, gold, and diamonds. Venezuela is home to the world's largest crude oil reserves, but its production has. Venezuela to launch 'petro', a cryptocurrency backed by oil and other reserves.