Nicolas Maduro, Venezuela’s president has ordered the country’s consular services, gas stations, and some other services, to accept Bitcoin and any other cryptocurrency including the nation’s own Petro.
He has also announced the launch of another cryptocurrency, this time backed with gold.
Venezuela’s oil-backed currency began its private pre-sale on February 20.
The president said:
I order the payment of consular services in all embassies and consulates of the Bolivarian Republic of Venezuela in the world, [and] all consular services in the country, in the Petro currency or in any cryptocurrency.
The President also announced that “the National Association of Airlines will be able to pay in Petro or in any cryptocurrency [for] the fuel and the services associated to the airlines in the rendering of their services in Venezuela.” He also ordered, “a manual be established for the payment of tourist services in the country through the Venezuelan cryptocurrency or any other virtual currency.”
According to him, “service providers, hotels, inns, national and international tourist services” asked him for authorization so they can “begin charging in cryptocurrencies and Petro.”
From the Petro Website:
The PETRO (PTR) will be backed by the Bolivarian Republic of Venezuela and the wealth of its large crude oil reserves. More importantly, the Petro has been created in an innovative manner, using the highest standards in blockchain technology and information security, thinking of a future where electronic asset-representations will enable more direct trade as well as government work within the framework of true financial and economic independence.
For more information and to download the Petro Whitepaper – Click here
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