According to the country's leader, El Petro's national currency of $ 1.2 billion will be transferred to new institutions that support productive initiatives for residents of the country, writes portal ambcrypto.com.
In addition, the authorities invest crypto-currency assets in the hotel business. So, in Caracas the hotel was opened with payment for accommodation in a digital currency.
In late April, Maduro said that the volume of preliminary sales of El Petro was $ 3338 billion. $ 1.7 billion has already been spent by the authorities to purchase products for the country and industrial resources. Another $ 1 billion was invested in the Central Bank of Venezuela for further sale through auctions.
And in the middle of April, the developers of crypto currency were awarded the Satoshi Nakamoto Prize for "outstanding contribution to the development of the blockchain industry."
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