According to the journalist specialized in technology Edgar Rincon, the solution devised by the Venezuelan government to evade the “strong and cruel sanctions of the international community to Venezuela”, the Petro, is not a cryptocurrency because “within the guidelines of the cryptocurrency guide does not fit. ”
Four days before the beginning of an election year in Venezuela, President Nicolás Maduro announced on national television that he will grant a bonus of 500,000 bolivares, the equivalent of US$ 3.9, to those who possess the Carnet de la Patria, an identity document created by the government that serves to regulate the purchase of food and tools with which users can access pensions or bonuses of this style in exchange for their loyalty to the government party.
In view of the hyperinflation in their country, Venezuelans have developed “creative” forms of business.
Venezuela's monthly inflation rate jumped to 33.8% in August, with food price rises reaching hyperinflationary levels above 50%, the opposition-controlled National Assembly said on Thursday.