During the last 4 years Venezuela has experienced the biggest financial crisis in its history, a situation that has resulted in a devaluation of its national currency, the bolivar.
Within the framework of policies to strengthen monetary sovereignty and promote welfare by bringing power closer to its citizens, the government of the Bolivarian Republic of Venezuela has decided to embark on an ambitious project for the future, with the vision of turning the country into a blockchain-based solutions development hub for emerging economies.
The Petro will be the foundation of a policy to promote development, infrastructure and training of young people in electronic mining, coding, cryptography, network security and economics 4.0, that will enable the exploitation of Venezuela and other developing countries’ most valuable assets in a new world of transparent, deconcentrated and manipulation-free markets, all thanks to technology.
Venezuelan oil assets will be used to promote the adoption of crypto assets and technologies based on the country´s block-chain. The State shall promote the use of Petro with the goal of consolidating it as an investment option, savings mechanism and means of exchange with State services, industry, commerce, and citizens.
Petro token (PTR) will have three main uses:
Each token will be divisible by 100000000 units. THe minimum exhange unit will be called Mene and will be equal to 0.00000001 PTR.
Dec 2017
Jan 2018: After this crowdsale
Feb 2018
March 2018
Apr 2018
Q2-Q3 2018
