The government of Venezuela claims to have held a blockchain and cryptocurrency seminar in Caracas, with experts from all over the world attending to give advice and suggestion on the authorized cryptocurrency – Petro.
Telesur and Government tweeted claiming the experts from countries like Russia, Spain, Mexico attended the seminar. According to president’s office, Head of the Spanish Blockchain Institute and Technology, Lluis Mas Luque, stated the Petro “represents a triumph over” conventional financial systems.
Not only did he appreciate the effort taken by the Government, but he was also surprised by the scale of the power of the project after a tour of the Petro headquarters.
Though most of the countries in the world has refused to do business in the Petro after Donald Trump placed a series of restrictions on parties trading in the oil-backed token, Caracas claimed that it has the backing of other business leaders and politicians in Colombia, Spain, Brazil, Japan.
The office claimed the other speakers at the event were Nilhan de Mel, managing partner of Sri Lanka based Crypto Genesis and Alex Sicart Ramos, founder of Shasta, which has its origin in Spain.
The event was made more acceptable by event organizers when they accepted Petro tokens to buy Petro-themed merchandise, even accepted Petro for admission tickets.
Venezuela’s crypto revolution appears to be taking the lead with department store Traki, which some claim to be a copy of Walmart, recently announcing that it will accept payment in a wide range of cryptocurrencies, including Bitcoin, Ethereum, Cardano, Dash, etc.
Though with high possibility of progress the petro has been named as Venezuela’s latest attempt to circumvent international sanctions which drowned the country into economic crisis. Though the coin has been deemed as a scam by various websites, the officials announced that they would use the currency to build villas for the homeless.
President Nicolas has already approved funding of 75 billion bolivars and 909,000 Petros for the project. How will the world decide the fate of Petro is something worth looking forward.