The National Superintendency of Cryptoactives and Related Activities (Sunacrip) of Venezuela is evaluating the incorporation of circulation, commercialization and use mechanisms on an international level for the Petro cryptocurrency in the coming months, the head of the agency, Joselit Ramírez, announced.
At the St. Petersburg International Economic Forum (SPIEF), Ramírez said that the Venezuelan cryptocurrency, based on reserves of natural resources, has a real function within its blockchain (block chain) from October 1 of 2018.
“Throughout this year we have made rapid progress in order to consolidate the project and provide a useful tool to the country and the world,” the superintendent told Sputnik.
He stressed that there are already people in the country who market some products with Petro, adding that cryptocurrency is also used as a tool for saving and collecting remittances.
“In this last month we are incorporating the services by the State, at least so that some institutions accept the Petro as a form of payment, such as for passports and some goods that are for exclusive use of the population,” he said.
He highlighted that Sunacrip made the PetroApp application available to users, in order to facilitate access to the aforementioned operations.
Ramírez exalted the participation of Venezuela during the Economic Forum of St. Petersburg, during which he had the opportunity to present the advances of the Venezuelan cryptocurrency to various entrepreneurs.
“We presented the advances of the Petro before representatives of the Russian Government, members of the blockchain association of Russia and some private entrepreneurs, as well as representatives of the Eurasian Community, and we had an excellent reception,” he said.
Translated by JRE/EF