By presidential or government announcement, in Venezuela the plan for a quick emission of 100 million of a national cryptocurrency, called PETRO, backed by the oil and mineral reserves of our country, was launched.
From the moment I read that news, I am in shock, worried, seeking to understand the possible reverence all about the subject, advantages and disadvantages, and if that would help resolve the terrible situation that exists in the country or if, for the otherwise, it would aggravate it even more. I want to say that I am apolitical, I have no preference for any political group, I am only interested in the welfare of my country, and with it that of us Venezuelans.
So I came up with the idea of doing this post to request your help about it, because I know that in Steemit there are many wises on the concept of cryptocurrency and its transactions on the web and I know that, in addition, you could answer this request to clarify my doubts.
I have read, that cryptocurrencies, such as Bitcoin, are generated to be anonymous and decentralized mechanisms. They are not issued and controlled by anyone, that is, by no government, banks or other entities. Now, why is petro the "cryptocurrency of the government", is not that a contradiction?
On the other hand, I also read that cryptocurrencies are not supported by assets, since their value is based on trust. The users trust in their technology. So, how is it that Venezuela will back Petro with the oil that is still on the ground? In truth, I find it incredible that Petróleos de Venezuela (PDVSA) allows those who buy Petro cryptocurrencies to drill and extract the oil themselves to get their own assets. In addition, the production and marketing of Venezuelan oil is insufficient to meet current demand and much of it is already committed to China and Russia.
There are many doubts, as you can appreciate, so your collaboration would be very valuable for me .
