For today, the National Executive is expected to install the Blockchain Observatory to govern Petro policies.
"On Monday we will be installing the National Observatory of the Blockchain, which will be in charge of governing the main policies for the design of the cryptocurrency," Carlos Vargas, who is in charge of the Superintendence of the Cryptocurrency of Venezuela, announced to VTV.
The Superintendent explained that, with the new currency, Venezuela becomes the showcase of the world and is a sample of how the nation "has decided to disregard the controls of the large economic groups worldwide".
For the first time, Venezuelans from the vision of the currency, we will be able to acquire tangibly a little oil, a drop of oil, a barrel of oil, through this currency we will have an asset, a situation that will impact positive way to combat the speculative dollar, "Vargas said.
The President of the Republic, Nicolás Maduro, announced on December 3 the creation of the virtual currency "petro" and the Observatory of the Cryptocurrency, which, he said, will work like Blockchain, a kind of accounting book by which they govern currencies like Bitcoin and that guarantees that the records of the transactions are valid and unalterable.
The value of the petroleum, Maduro said, will be backed by Venezuela's natural resources, such as oil, gas, diamonds and gold.
The national president added that the petro will change the course of the region "and beyond the region."