On Wednesday, in a political ceremony, in the midst of national and international reactions to the announcement of the presale of the petro, Venezuelan President Nicolás Maduro announced that next week he will launch another cryptocurrency, which he named Petro Gold, "with gold support".
"The Petro is a cryptocurrency unique in the world that has support in oil, and next week we will launch the Gold Petro with gold backing, even more powerful that strengthens the Petro as a Venezuelan currency in the world of cryptocurrencies," he said. the mandatary. He also affirmed that 36 cryptocurrency exchange houses in the world are working with Venezuela, according to the website of the state radio station RNV.
Beyond this announcement, the president did not provide more details on the new cryptoactive that supposes a redefinition of the strategy with respect to the cryptocurrencies, since until now it had been exclusively spoken of the Petro, although in different opportunities representatives of the Blockchain Observatory of Venezuela would have affirmed that different cryptocurrencies would be launched for different sectors of the economy.
When gold is mentioned as support, a question arises in relation to petro and petro-gold. The petro, explained the government, would be backed by proven oil reserves, although not yet exploited. With this new cryptocurrency there is the possibility that the support is in the gold that the government has in custody - as it already happened in England - and not in the reserves of unexploited gold.
The Royal Mint, the British institution responsible for supplying the physical money to the United Kingdom, announced in late January that it launched a cryptocurrency, the Royal Mint Gold (RMG) that allows people a safe and inexpensive way to acquire gold. as a means of investment.
The RMG has its price tied to one ounce of gold and the RMG holders can claim the physical gold when they wish, only that the Royal Mint deducts the manufacturing costs, unless the investor has enough RMG to obtain in return a coin or a bar. In short, it is about making more flexible the sale of gold to individuals, but the cryptocurrency is not subject to price changes but has its value linked to the fluctuations of gold.
This announcement of Maduro is made shortly after having begun the pre-ICO of Petro, a private currency offering that was the subject of several unforeseen events, highlighting the change of the Ethereum platform by the NEM platform as the base blockchain for the realization of the Offer , among other stumbles.