If the National Superintendency for the Defense of Socio-Economic Rights is successful in pressuring stores to accept the petro, it would serve the Maduro regime well. By making it easier to avoid sanctions, the petro enables the government to regain some of its lost oil revenues. By making it easier to monitor domestic transactions, the petro aids efforts to stamp out political opposition. And, by reducing the need to print up so many new notes during periods of hyperinflation, the petro reduces the likelihood and magnitude of cash shortages.
Venezuela’s biometric authentication cryptocurrency payment system is still down, over two months after it apparently causing havoc for traders across the country.
Hello guys, Venezuelan here, you can check my post history. Weeks ago government airdropped 0.5 PTR (Petro) to public workers and pensioners….
The president of Venezuela, Nicolas Maduro, has announced that the state-owned PDVSA oil firm will sell 4.5 million barrels of oil for Petros.