Venezuela Plan Real Life Use for its Cryptocurrency: Petro

Venezuelan President Nicolás Maduro has announced that the Petro will be used as a unit of account in the country for salaries as well as goods and service.

A solution to the country’s hyperinflation and a means to bypass western economic sanctions, Venezuela has created its own cryptocurrency, the Petro. Venezuela’s major asset is its substantial oil reserves, and the Petro is backed by this asset. This government’s cryptocurrency project took off last February.

Yesterday, Nicolás Maduro, the President of Venezuela, has declared that the Petro will be used for paying salaries, and as well as goods and services. He identifies it as the country’s second official currency. In doing this, Venezuela will have two national currencies: the Petro and the Sovereign Bolivar, where one is pegged by the other.

As of next Monday, Venezuela will have a second accounting unit based on the price, the value of the Petro.

Nicolás Maduro, the President of Venezuela

Petro

PTR
Price
0.000000 USD 0.00%
0.00000000 BTC 0.00%
Volume, 24h
0 USD
0.00%
Marketcap
0 USD
0%
Emission
0%

Related news

WWF Launches Blockchain Tool to Track Food Along Supply Chain

WWF Launches Blockchain Tool to Track Food Along Supply Chain World Wildlife Fund-Australia (WWF-Australia) has announced the launch of a supply chain tool that uses blockchain to allow businesses and consumers to track food items, according to a tweet today, Jan. 17. The platform, dubbed OpenSC, is the product of a partnership between WWF-Australia and BCG Digital Ventures (BCGDV) — the global corporate… The post WWF Launches Blockchain Tool to Track Food Along Supply Chain appeared first on Altcoin Today.
Altcoin Today

Bitpatron: Bitcoin and Blockchain Free Speech Content Platform to Rival Patreon

Discover Bitpatron, a digital platform that enables you to earn Bitcoin for writing content without fearing demonetization or removal from the platform. The free speech content membership platform powered by Bitcoin enables users to earn Bitcoin for speaking their mind regardless of their political affiliations or the ideas they harbor. The Bottleneck of a free internet Recently, there is an increased attack on the freedom of expression and online revenue has raised serious concerns for the cyberspace. Mainstream social media platforms such as YouTube, Facebook, Twitter, and Patreon often demonetize and deregister all content creators whom they consider controversial and contrary to the majority political leaning. This is where the Bitpatron platform comes into play. The Bitpatron community believes the mainstream online media often engage in an unacceptable transgression on the rights of content creators. Against that backdrop, the platform decided to come up with a reliable solution. The mission of Bitpatron is to create a level playing field for all content creators where they are able to monetize their work. This way, they will be able to keep the playing field toned and eliminate pressure by big corporations and government on “controversial” political figures to enable creators to operate completely. How it works Bitpatron is creating a Bitcoin-powered content membership platform that is censorship resistant, private, and decentralized. It will store content on the Bitcoin blockchain to make it impossible for governments or large corporations to delete or censor content. It will also provide creators with a means of earning Bitcoin through subscriptions and as well as micro-transaction rewards by their readers. The platform seeks to match Patreon’s user experience as close as possible to allow smooth migration of content creators to the new platform where they can re-monetize their work and bring in their fanbase. In the end, content creators will be able to enjoy the same revenue they had on other platforms but this time with more freedom and peace of mind. Importantly, the platform is planning collaboration with a reputable crypto exchange to enable purchasing of bitcoin with credit card. This will make the transaction from credit card to Bitcoin smoother, so patrons can reward their content creators with Bitcoin. This will eventually create an easy transition from fiat to crypto, even for users with less experience. Amazing features Bitcoin first: The platform uses nothing but bitcoin so users can earn it by creating content and being rewarded by the fanbase. Freedom of speech first: Regardless of their political leanings or thoughts, whether right wing or left wing, creators can speak up freely and enjoy full freedom of speech on the Bitpatron platform. Privacy first: Creators just need a good nickname and they are set. They don’t care about personal information or e-mail except if the user wants to have the option to recover a lost password. As such, the platform offers complete anonymity and privacy. Platform charges Bitpatron charges a 5% withdrawal fee from content creators, which is competitive with Patreon’s fee. The platform uses the fee to pay dividends of token holders and the remainder for funding operational costs and developer income. Besides, Bitpatron is designed as a mutual company, such that the percentage of tokens held is the same percentage of ownership that a creator owns—and that is the same percentage of dividends received.
Bitcoin Exchange Guide

Hot news

By continuing to browse, you agree to the use of cookies. Read Privacy Policy to know more or withdraw your consent.