As of this Monday, October 1, the Petro, our sovereign digital currency, marks a milestone in the economic history of the world as it is the first digital currency promoted by a government as an international exchange currency, with which Venezuela enters into a new stage of economic equilibrium and expansion of foreign investment.

The Venezuelan state will promote and encourage the use of petroleum with the objective of positioning it as an investment option, savings mechanism and means of exchange with public services. As well as the sale of its commodities abroad, industry, commerce and citizenship in general

"The first of October we launched the new stage of the Petro so that all Venezuela has access to Petro, in savings, investment, spending. The new stage starts to turn the Petro into a power on an international scale, "announced the President of the Republic Nicolás Maduro Moros on September 20, offering the country the balance of the first month of implementation of the Recovery, Growth and Prosperity Plan. Economic

With the start of international operations through the Petro, Venezuela opens the way for the commercial exchange of cryptoactives, facing the financial blockade by using it as a payment instrument for the acquisition of goods and services that will undoubtedly bring great benefits to the Venezuelan people.

The Petro, a digital currency backed by our nation's oil reserves, plays a key role in the Recovery, Growth and Economic Prosperity Plan promoted by President Nicolás Maduro to achieve stability and defeat the economic war.

Donald Trump play months ago

The president of the United States, Donald Trump, signed, last March, an executive order with which he banned "all transactions" with "any digital currency" issued by the Venezuelan government, in allusion to the Venezuelan crypto.

Expert economists

For the economist Roger Chacín this is the biggest obstacle to avoid digital currency in the international market.

"The sanctions are latent, they have not been lifted, Washington will sanction everything that transits Maduro's digital currency. Only the allied countries remain and historically have wanted to become independent of the dollar: Russia, China, Iran, Turkey and Syria. If China is fully committed to support the Petro this could cause a multiplier effect among other nations, but we will have to wait if this massive support will be given, "said Chacin.

In the opinion of the economist Asdrúbal Oliveros, the petro as a cryptoactive "never landed or materialized because he did not have confidence in the cryptocurrency markets, so they came to convert this into a unit account structure and in a rather uneven way".

Oliveros said that the plan of the Head of State has many unknowns, mainly the anchoring of the salary of Venezuelans to Petro and that this fluctuates with the price of crude oil in international markets.

"If in the end the salary is 1,800 sovereign bolivars and the barrel went down to 30 the only way that you guarantee that is that you move the exchange rate at least at a double level to be able to guarantee that you have the same amount in terms of bolivars, I do not know if the government will have the flexibility to move the exchange rate up or down, "Oliveros said that" this plan has too many unexplained elements. "

Personal opinion

Really friends are many different opinions, as Venezuelan I really want this cryptocurrency to have the best acceptance at the blockchain market level. But there are also many doubts and especially the questions left by the Maduro government for its lack of seriousness when it comes to telling the truth to the people, it is hard to believe that the petro is really going to be handled in the way they say, if normally they dominate in their totality all negotiation as they will do with the petro if the first thing a cryptocurrency is about is trustworthy. We will wait to see what happens.