The crypto-currency oil of venezuela, the Petro is going to see the light of day after the publication of the white paper official. The long-awaited document describes the model of the currency and the mechanism of the crowdsale that will be used for the launch of the project based on Ethereum in February. Having officially been approved by the president Nicolás Maduro, the white paper is finally available.
If you missed this deal, here’s the details :
A ICO of $ 5 billion
The value of the sale of Petro, if it reaches its ceiling, will be almost equal to the total income generated by the ICO in 2017. With the price of a PTR tentatively set at us $ 60, corresponding to the price of a barrel of oil, the digital currency venezuelans are more expensive than the $ 50 requested by Bitconnect X ICO today. The crypto-national currency of Venezuela is not a Ponzi scheme. Its creators promise that the Petro will allow investors to enter the market of digital assets with an instrument of intrinsic value, more secure and more stable.
In many respects, the white paper on Petro is banal. 22 pages, carefully written with care. There is much talk of the Blockchain, but fortunately, there was no mention of “disruptive technology” or ” new paradigm “. As the first crypto-currency issued by the government, although coming from a country with a status as a pariah in the eyes of the Americans, the effort Venezuela has had to necessarily attract the attention and fascination.
The strong points of the white paper of the Petro
The white paper Petro deserves to be read in its entirety, if only to take into account the magnitude of all this. In one section, you can discover the gains and volatility in day-to-day Bitcoin and Ethereum in 2017.
Source : Mohamed Hassan, Pixabay. Venezuela publishes a white paper for the Petro.
On the other hand, we can also see the number of Petro, which will be created. In total, the government expects to produce nearly 100 million of PTR. Approximately 38.4% of digital currencies will be put on sale from the 20th of February, 44 % will be available to the general public as of next month, and 17.6 % will be retained by the financial authorities of venezuela.
Source : NewsBitcoin