Yet formally announced by the President of Venezuela in person, the local cryptocurrency, the Petro, should have been issued with, not only oil reserves as collateral, but also gold, diamonds and other commodities. A few months later, after a major issue of the latter, the record is far from brilliant: no one user, no investor and even less convenience does not guarantee.
The Venezuelan crypto revolution is on hold…
The country of Nicolás Maduro has not finished talking about him yet … and is far from winning the praise of the international crypto sphere. After many interventions by President Nicolás Maduro concerning his proposal for national cryptocurrency and the adoption of the latter by other neighboring states, would we be able to say today that the Petro is a failure?,
Reuters issued a somewhat alarming report this week.
In an interview last January, the president unveiled a document explaining among other things the availability of barrels of oil from the Ayacucho certified oil deposit, N°1 in the Orinoco oil belt. But a few months later, and once on site, many questions arise. Is it really here ,in Atapirire, that the oil guaranteeing the Petro is truly located?
Would it really be on the below pictures, that we can see any momentum of the government which itself ensured to put 5 billion barrels of crude oil available for the creation of Petro?
Although the infrastructure is seriously lacking, doubt may arise; not for the inhabitants of the region, who are formally claiming that no effort has been made by the government, at all. When one mentions that any financial revolution could then be coming from this country, the villagers express their unhappiness.
“No sign of Petro here”
Questioned about the existence of any major development Igdalia Diaz, a craftsman, hastens to advance these few words: “There is no sign of the Petro here” then showing to the reporters the school in ruins from the city, the dilapidated roads and mentions the many frequent breakdowns that affect the totality of the inhabitants who are lacking food. Same applies to the lack of running water, coverage and quality of mobile networks …
This situation seems to be the same in most of the whole country and the Venezuelan Petro is very difficult to detect…or even to locate. This same cryptocurrency does not seem to be available on exchanges and no local store seems to accept it. Recall that according to the president, the Petro ICO reached the record $ 5 billion, that the corner was traded but also active. As for his minister, he seems to be more reserved emphasizing that the underlying technology of Petro was still in full development and that today, no one has the famous token national.
So perhaps, will it be necessary to go to the office of the “superintendent of cryptocurrencies” to see more clearly or even just consult the web page dedicated to it?
Neither the first option nor the second option seem to bring any answers: the website does not work and the receptionist at the Ministry of Finance (where the Superintendent of Cryptocurrencies is housed) simply replies that the latter “has not yet physical presence” in the premises.
If Petro was a Sophomore, we guess it started the academic year very poorly…Missing!