The government of Venezuela led by Nicolás Maduro has had a great idea to get out of the economic crisis, as well as pay the great internal debt that this country has.
Petrocoin is the cryptocurrency project that the government hopes to take forward with the approval of the Constituent Assembly. Bitcoin and blockchain have decentralized the economy around the world and it is a great relief for underdeveloped countries or major crises.
It is important to know that a blockchain can be public (Venezuelan proposal and similar to Bitcoin) or private (customized and controlled cryptocurrencies)
Venezuela is not the only country that wants to venture into the bitcoin world, Russia is already preparing the CryptRublo, China, Mexico and Uruguay also want their own cryptocurrency.
Why is Petrocoin the salvation of Venezuela?
It is very simple, if the cryptocurrencies displace the physical currencies, the countries that adopted them as part of their economy would be the big beneficiaries and they will obtain great profits, the price of their currency will rise through the clouds and greater wealth and stability will be generated.
Despite the current economic blockade of Venezuela imposed by the United States, public cryptocurrencies can not be controlled and have a very high level of security, inaccessible to any mortal or opposition government.
What awaits Venezuela?
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