Petro Currency

                           El Petro

Petro currency was announced today by Nicolás Maduro. The "Petro" will be a Cryptocurrency backed by Venezuela's Oil, Gold, Gas and Diamonds

Maduro announces the creation of Petro,PETVZL  the cryptocurrency of Venezuela

In this article you will find:

1 Maduro announces the creation of Petro, the cryptocurrency of Venezuela

2 PetroMoneda, the Cryptocurrency of Venezuela

3 Will this cryptocurrency be viable?

4 When and who will create the virtual currency?

5 Unique Digital Mining Registry.

6 Youth Chamba.

6.1 What are mining farms?

7 Bitcoin Venezuela

7.1 How does Bitcoin work?

7.2 What is the price of a Bitcoin?

Everything said by the Venezuelan President, Nicolás Maduro; its Minister of Science and Technology, Hugbel Roa, and the specialist José Angel Álvarez, of the National Association of Cryptocurrencies, on the Venezuelan cryptocurrency "Petro"(petvzl), based or supported by the Venezuelan oil wealth, and the creation of a Venezuelan Blockchains observatory .

PetroMoneda, the Cryptocurrency of Venezuela

The Venezuelan cryptocurrency was announced by the first president of the Republic. With which, it is expected to solve the national economic crisis.

With this new currency financed by Venezuelan oil, the national government seeks to create a new form of international financing.

What differentiates the Venezuelan Cryptocurrency from Bitcoin or Ethereum, is that this currency will be backed by the national reserves of gold, oil, diamond and gas.

In addition, it was already established that the value of Petro will be established according to the price of a barrel of oil, according to the data provided by the Ministry of Petroleum.

In this way, speculation around the price of the virtual currency will be avoided and will have a more stable and supported value.

Will this cryptocurrency be viable?

The National Government has arranged experts for the codification of Petro, in addition, created the Blockchain observatory that will govern the policies of the virtual currency.

In fact, experts in the field have emphasized that creating the virtual currency does not have major technical problems.

"You can connect to the internet and create your own cryptocurrency in 20 minutes by copying and pasting software code."

This was explained by Garrick Hileman, specialist in the field.

The main problem is to give support to the currency and in the Venezuelan (petvzl)case, the currency will be mainly backed by the national oil.

"Petro, will allow to advance in the matter of monetary sovereignty, to make its financial transactions, to overcome the financial blockade".

According to President Nicolás Maduro.

When and who will create the virtual currency?

The national executive stressed that the creation of Petro must start immediately and for that purpose he has appointed who will be in charge of the entire creation process.

As the new president of the state oil company, Manuel Quevedo has been appointed to coordinate the creation team of this virtual currency.

President Nicolás Maduro ordered the immediate creation of the Moneda Petro and the Blockchain observatory in the country.

What has not been announced is the launch date, however, it is expected to come into operation during the first quarter of 2018.

Very soon we will be announcing new related details.

Unique Registry of Digital Mining.

In turn, Maduro already announced the creation of the national registry of miners. Which, will serve to keep track of people who are dedicated to "Produce" virtual monedar as Bitcoin, among others.

This registry seeks to attract young people who want to be part of the process of developing the first Cryptocurrency in the region.

With the Unique Registry of Digital Mining, it will be possible to determine who will undermine the Venezuelan virtual currency? and how will it be done?

Chamba Juvenil.

Likewise, Maduro took the opportunity to create a special group of young people who know the Cryptocurrencies. In order to help in the process of creating the mining farms.

"We are going to call them, a special Cryptocurrency team, to set up Criptomenoda mining farms in all the states and municipalities of the country."

This was highlighted by President Nicolás Maduro.

What are mining farms?

The mining farms are constituted by interconnected computers by means of a special software that governs the functioning of the same.

The computers are managed by specialists in cryptocurrency and mining.

Bitcoin Venezuela

Bitcoin Venezuela 710x350

Bitcoin arrived in Venezuela and can be purchased with bolivars through LocalBitcoins and Excoinge.

This is the main virtual currency created. It was born in 2009 and since then some others have appeared, but this is the one that continues to have greater strength and international validity.

How does Bitcoin work?

The bitcoins are generated by miners, who are the "accountants" in the virtual world and write the transactions in the blockchain.

If you want to buy Bitcoin from Venezuela, you can do it with Bolívares directly in LocalBitcoins, or through the official Facebook group.

You can buy them by buying them with Bolivars, Dollars, Euros, Yen and any other official currency in the world.

The main advantage of Bitcoins in Venezuela is that they can not be regulated by governments or by banks. It is a free currency.

It is also very easy to make transactions with them from anywhere in the world

And they are already accepted as a means of payment by many services and businesses around the world.

What is the price of a Bitcoin?

The first thing we should know is that this currency is not unlimited and that is what makes it so safe.

Between programmers and the community, a number of available bitcoins of 21 million was established.

Of which only 16 million have been discovered.

Although it sounds little, this amount is more than enough, since they amount to more than 41 billion dollars.

The value of a bitcoin is 11,882.6 dollars,