Only one day after the establishment of the Petro, the crypto-currency national proposed by the president of venezuela, Nicolas Maduro, has been declared illegal by the parliament, the government has announced its intention to “pre-undermine” the Petro. The new digital currency is expected to be launched in about six weeks.
Nicolas Maduro/Source : Wikimedia Commons
A process of pre-mining soon to be launched
Carlos Vargas, the person responsible for the issues related to crypto-currencies and related activities of the technology of Blockchain, declared on national television : “The Petro will not be abandoned. On the contrary, we will begin a process of pre-blasting, which will be completely supervised and controlled by the government “. “In a month and a half, the sale of the Petro will be held, and the citizens will be able to create their digital wallets “, he added. However, Vargas has not yet mentioned the name of the platform on which the trading of Petro will be realized. However, the platform is the most well-known and used to create tokens for the trading is the protocol Ethereum RC20, which also requires that crypto-currencies are pre-mined.
Process of mining of Crypto-currencies/Source : NewsBitcoin
The venezuelan government wants to encourage the mining of crypto-currencies
Since the announcement of the Petro in early December, Maduro claims to have recruited children across the country for the exploitation of this new crypto-currency. He also ordered the creation of a registry where the minor can enroll. This registry will be open until 20 January next year. Although the mining of crypto-currencies is not illegal in Venezuela, there have been a few arrests for theft of electricity. Arguing that the activities of mining crypto-currency, generating significant revenue, Vargas explained that with the registry, ” people will be able to undertake the business of mining of crypto-currencies without fear of being persecuted “.
Source : News.bitcoin.com