Venezuelan president Maduro approved the issue of 100 mln of Pteros. Petro is a state backed national cryptocurrency of Venezuela. Moreover, the president claims that one Petro will be the euivalent of one barrel of oil.
The first official meeting on the national cryptocoin will be held on the 14th of January this year, where will be decided about details in regulation and other issues that are still unsolved.
the government of Venezuela believes that creating a state cryptocurrency will help to overcome the crisis in which country has been for quite a long time. Moreover, one more reason for creation of cryptocurrency is the effort to overcome the devaluation of the national currency. Now, instead of bitcoin, Petros will rule in Venezuela!