Will Venezuela be able to solve part of its economic problems by introducing this new cryptocurrency, the petro?
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The petro cryptocurrency, which is supported by the nation’s energy and mineral reserves, is a tool of exchange in the macroeconomic field promoted by the National Government for the mobility of resources at any level and the digital transformation within financial transactions, which puts Venezuela at the forefront of the world economy.
You can use savefrom youtube downloader. The problem in Venezuela is simply socialism. Chavez stopped the monetary exchange, nationalized industries, imposed price controls, pursued opponents and destroyed the country’s economy, letting it support itself only through oil.
It raised huge deficits, which caused the level of inflation to rise through the air and in response to that repeated the same price control processes that condemned everything that remained of the Venezuelan economy, only unfortunately unlike the previous one this was a complete 2.0 .
“We did not have access to international resources and within the range of options we had to design an instrument that could evade the blockade and at the same time obtain a type of financing,” he told AVN.
In addition, the petro will give the country freedom for its transactions, which will allow overcoming the obstacles placed in the international financial market by organizations such as Euroclear, which retained 1,200 million dollars that were destined to the acquisition of food and medicines that would be distributed in the country.
I also think that introducing Petro was a good idea. I’m going to follow the news about it (usually I use cryptocurrency news sites for this purpose). And I hope, this step will help Venezuela to become a strong country with a stable economy.
