Venezuelan Government Bodies to Accept Crypto

Decree gives entities 120 days to start accepting petro
13 April 2018   123

According to a statement by the government newspaper Official Gazette Venezuelan crypto currency "petro", backed by oil, should become legal tender within 120 days for all transactions made by state institutions - from ministries to airports, Bloomberg reports.

In addition, the Official Gazette says that the government will become the sole regulator of all crypto assets, and the newly created national Cryptocurrency treasury will be responsible for regulating all crypto activity - from issue to trading. In another statement published on Tuesday, the Venezuelan government reported that Abrahan Landaeta will become head of the Crypto currency treasury, and Anthony Camillio Torres is the chief in virtual currencies.

The decree is intended to facilitate the use of "petro", but there are certain obstacles to implementing this policy - the main aspects of the Venezuelan crypto currency are still kept secret, and many rating sites have already called it a scam. Last month, President Nicolas Maduro said that Venezuela had already received offers to buy tokens worth $ 5 billion from several countries, including China, Russia and Mexico - but no evidence has been provided so far.

With the help of "petro" Venezuela hopes to benefit from global blockade fever, as well as to withdraw its economy from a severe recession, which is accompanied by a rapid fall in the rate of the main Venezuelan currency. According to the IMF forecast, by the end of the year, inflation in Venezuela will reach 13,000%, and the country's GDP will decrease by 15%.

Consensus 2018 summit to be held in New York City

4th annual blockchain technology summit - Consensus 2018, will take place in New York City on May 14-16
22 April 2018   32

CoinDesk has announced its 4th annual blockchain technology summit Consensus 2018 on May 14-16 at the New York Hilton Midtown. Along with the discussions on the blockchain technology, the event is going to feature a hackathon, PoW pitch competition and a scholarship award in a partnership with Zcash. Title sponsors of the event include bloq, Deloitte, Ledger, Octagon Strategy and SONM.

Consensus 2018 will feature 250+ speakers and 4,000+ attendees from the leading industry startups, investors, financial institutions, enterprise tech leaders, and academic and policy groups who are building the foundations of the blockchain and digital currency economy. Among the notable speakers there will be Blockstack co-founder Dr. Muneeb Ali, J.P.Morgan blockchain program lead Amber Baldet, eToro CEO and founder Yoni Assia, Hyperledger executive director Brian Behlendorf, ConsenSys founder Steve Cerveny, Athena Capital founder Meltem Demirors and many others.

The full 3-day agenda of the event can be found here.