The President of Venezuela Nicolas Maduro held a meeting of the Bolivarian Alliance for the Peoples of Our America — Treaty of Commerce of the Peoples (Alba — TCP) on Friday, where he called for 10 other countries to adopt oil-backed cryptocurrency El Petro.
I put on the table, brother governments of the ALBA, the proposal of the cryptocurrency, the petro, so that we assume it as one of the projects of the integration of the 21st century in a bold way, but also in a creative way.
The President of Venezuela
The members of ALBA are Antigua and Barbuda, Bolivia, Cuba, Dominica, Ecuador, Grenada, Nicaragua, Saint Kitts and Nevis, Saint Lucia, Saint Vincent and the Grenadines and Venezuela.
Despite the National Assembly of Venezuela voted against the establishment of el Petro on January 10, Nicolas Maduro announced plans for a “petro” premine. It is expected that the new cryptocurrency will be released in six weeks.
On Friday, the Minister for Youth and Sports, Pedro Infante, said Venezuelan youth will propose to the Assembly “to create a special commission that will be in charge of debating the proposals presented by the various sectors, to carry out the financial system of the cryptocurrency Petro.”