on the crypto
THEUS embargo continues due to significant difficulties for the economy of the South American country. A progressive strangulation which the authorities have thought of remedying with the Petro, the national cryptocurrency guaranteed by Venezuela's oil and precious reserves. A move which, however, at least so far, has not given the desired results, forcing Maduro to consider alternative roads in order to remedy an increasingly deteriorated situation. The road that would have been identified would always lie in the field of digital coins, in particular Bitcoin and Ether.
Hold BTC and Ether to increase national reserves
The road identified by the Venezuelan government was revealed by an article by Bloomberg, according to which local authorities are planning to add BTC and Ether to the available Petro reserves. A hypothesis taken into consideration and sponsored by the central bank, at the specific request of Petroleos de Venezuela S.A, the state oil company. A request deriving from the difficulties encountered in the payments by some international customers, precisely because of the sanctions imposed by the United States.
Bloomberg has taken over anonymous sources, according to which the Petroleos de Venezuela he would be trying to transfer Bitcoin and Ether to the country's central bank, which would be responsible for handling payments by international customers interested in domestic oil.
Count cryptocurrencies in international reserves
Also according to rumors of recent days, the central bank would also be working on a draft law aimed at solving another problem, the one related to the international reserves of the country that, recently, have reached the thirty-year minimum, settling at quota 7,9 billion dollars. To overcome a fairly critical situation we are therefore thinking of also count inside the cryptocurrencies held by the banking institution.
In addition, Banco de Venezuela has long offered customers the possibility of carrying out banking transactions both in fiat currencies and in digital currencies, confirming an increasingly open attitude towards mixed solutions that could bring some relief to the precarious financial condition. of the country.
An economy increasingly based on digital assets
To what has been said so far, further news must be added, that relating to the event installation of the first vending machine for virtual coins. The machine, after some unsuccessful attempts, was installed in Tachira da Panda, a South American company and allows the management not only of cryptocurrencies such as Bitcoin, Bitcoin Cash (BCH) and DASH, but also of fiat currencies, starting from the Venezuelan bolivars and Colombian pesos.
A circumstance that confirms once again the willingness of local authorities to leverage digital assets to try to remedy the consequences of the blockade imposed by the United States, which is causing many problems for Venezuela. In this regard it should be reported as always according to the rumors that circulate insistently, one of the best universities in the country would be working on an RFID-based solution, thanks to which cryptographic payment by means of smart cards will be possible.
