Nicolas Maduro, the President of Venezuela, has declared that he has found the solution for the crisis in Venezuela: the release of the national cryptocurrency backed up with oil. One coin for the price of one barrel!
Though, many opposition parties and just users believe that the reasons behind Petro release are very simple: the guys just need money. Cryptocurrency is decentralized and uncontrolled, and that opens wide opportunities for manipulations and corruption.
All in all, many believe that Petro, the national cryptocurrency of Venezuela, is nothing but a big scam. It is clear why other countries perceive it in a negative way, though, what is going in connection with that in the society of the country?
Economic collapse and hyperinflation in the country are the main reasons why most of the population is sceptical to Petro. The current president wasn’t able to control the country and the situation in it, like the previous president Hugo Chavez did.
The current president claims that the national currency will help to overcome the problems with the collapse of the national currency, though, as the reality shows, the cryptocurrencies, all in general as well as the national Petro, are available only to a very limited number of people. Whose problems then the government is trying to solve? Definitely, ordinary citizens are out of the boat again.