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State Cryptocurrencies Review: Toys or Instruments For Economic Growth?
Bnt-reviews   |   04.03.19  |  

... Limited, issued the eCFA crypto coin, which became another means of payment on a par with the African franc CFA franc. eCFA is fully dependent on the national banking system and is supported by the Central Bank. In 2018, Venezuela announced the release of El Petro cryptocurrency, which, in essence, is a contract for the purchase of a barrel of oil via the blockchain. According to the statements of Nicolas MADURO , more than 5 bln barrels of oil from the Ayacucho region were allocated for the maintenance ...

Are National Cryptocurrencies Viable? 4 Practical Approaches To Consider
Cryptocurrencies-analysis   |   25.01.19  |  

... all? Experts in the field of digital economics note that national cryptocurrencies can have four purposes: An Economic "Shield"; A Trade Catalyst; A Digital Frontier; A System Connector. The first group represents the notorious Venezuelan El Petro — an attempt to oppose sanctions and save a devastated economy. The effectiveness of this instrument is extremely difficult to assess right now: life does not get any better in Venezuela, and the political tension reached its peak in a live ...

Bitnewstoday Recalls: TOP 5 Events Which Shook The Crypto World In 2018
Cryptocurrencies-analysis   |   17.01.19  |  

... and assumptions, but it is known for sure that the Durovs have reported to the US Securities and Exchange Commission (SEC). TON is out of the information field for a while, but everyone is looking forward to its triumphant comeback. #4. The launch of El Petro national cryptocurrency Nicolas Maduro, the president of Venezuela, was not eager to keep any privacy of Petro, on the contrary. Moreover, he tried to hype and attract maximum attention to the launch of the first-of-its-kind state cryptocurrency....

El Petro’s Eleven Enemies: Why The World Policemen To Force Venezuela To Its Knees
Venezuela   |   09.10.18  |  

... help the Maduro regime skirt the US sanctions. 11 influential senators at once presented a draft regulation entitled “The Law on Humanitarian Assistance, Restoration, and the Rule of Law in Venezuela of 2018”, which de facto bans the turnover of El Petro both in the United States and in marketplaces controlled by American business. It is significant that among the authors of the bill there are ex-potential US president Ted CRUZ ; Senator Marco RUBIO who is in the top 100 of the most influential ...

Let's Make Venezuela Great Again? Toon #1
Venezuela   |   27.09.18  |  

... Maxim Smagin. We officially open a new section - Bitnewstoday toon. The most meaningful digital economic trends through the eyes of the brilliant cartoonist Maxim Smagin who has joined our team! We are proud to have him on board! We all know what el Petro is. And if you want to understand what Trump has to do with it, read our series of articles on Venezuela. Will The Cryptocurrency Help To Bypass The Sanctions? The idea of circumventing all sorts of sanctions with the help of crypto currency ...

Venezuela's Economic Disaster: How El Petro Can Oppose The USA Politics
Venezuela   |   25.09.18  |  

The Venezuelan national digital coin is entering the global market. But in the current economic and political situation, it is unlikely to be necessary to anyone The Republic of Venezuela is introducing its virtual currency El Petro to the foreign market. This step from Nicolás MADURO has been expected for a long time. Analysts were preparing killers of arguments about the futility of such attempts to cope with the economic crisis and hyperinflation. Journalists sharpened ...

New Venezuelan Currency to Finish EL Petro Along With the Country
Venezuela   |   21.08.18  |  

... reduced rates on five zeros. Another key step was the issuance of a new currency called “sovereign Bolivar”. Its peculiarity is that it’s the world's first national currency, pegged to a cryptogram. Namely — to the oil-backed cryptocurrency el Petro, which Maduro launched in February this year as an ERC-20 token. The launch of a new fiat currency is a part of Maduro's strategy to combat hyperinflation. According to the forecasts of The International Monetary Fund, it will reach 1 000 000% ...

Nicolas Maduro's Hype Is Too Expensive For Venezuela
Venezuela   |   09.08.18  |  

... community is concerned about Nicolas Maduro's initiative. Not for Venezuela, of course, but for the situation on the global market. In order to obtain a complete picture, we plunged deeper into the problem and listened to the Venezuelans' views of issuing El Petro. The skepticism of the country's inhabitants is no less than that of economists. Here, for example, is one of the multiple opinions. "Only public officials have gained access to El Petro, - says Jocelyn Avila, the retreat facilitator and ...

Virtual currency is already in real banks. And they spend it
Forecasts   |   26.07.18  |  

... with the thought that he uses stolen money. Tracking the movement of cryptocurrency is much easier than paper money`s one .There is another example, it`s a whole country, Venezuela. President Maduro launched the project of the national cryptocurrency El Petro, while declaring that the "coin" will be provided by the present and future deliveries of oil to the world market. The filling of this coin, by the way, peacefully coexisting with the national monetary unit, immediately became attractive ...

Russian KAMAZ truck plant debunks the rumors on Petro token foreign trade
Venezuela   |   05.04.18  |  

Reports suggested that the Russians will sell car parts for Petro tokens which are under sanctions, but the representatives of KAMAZ made it clear they would prefer to wait for official requests Rumors connected with Petro, a cryptocurrency made by the authorities of Venezuela (as they claim) to improve economy, have not been confirmed again. And once again, Russia is part of the rumors. As initial messages in the media told, the Russian truck plant called KAMAZ will sell car parts to Venezuela...


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