Venezuelan President Maduro has ordered the release of the first 100 million Petros, national cryptocurrency provided by oil.
Petro one will be equal to one barrel of oil. In particular, he said:
I ordered the release of 100 million Petro, on the basis of oil reserves in our country. The cost of one Petro equal to 1 barrel of oil venesuelly.
14 Jan will be the first national meeting of miners of the new cryptocurrency, and will also be published technical documentation for the project. The announcement is consistent with prior statements of Maduro that Venezuela will release a cryptocurrency provided by oil.
Because of the problems associated with hyperinflation in the country has lost confidence in the national currency – the Bolivar. This has led to the rising popularity of cryptocurrencies and related industries, in particular mining. Bitcoin has become so popular that there is even a special term for describing this phenomenon – bikinidare.
In other countries, including Zimbabwe, also has seen an unprecedented rise in popularity of cryptocurrency and bitcoin in terms of financial instability.