Petro Currency is a life boat for Venezuela

Hello guys,
Do you know where is the cheapest petrol selling country? of course it is Venezuela. where Petrol is sold atthe cheapest price. This country has been suffering of severe Inflation rate and hence it is going to down and down. The current situation is worst and people are facing the poor financial and edge of starving over here.
The Final Hope of the country is Crypto Currecny::
Doing several efforts by the government this is finally revealed that the country will issue its own crypto currency but lot of country have opposed for that because they know that it is only way for country to come out.

USA itself has opposed the countries new Petro Crypto Currency -US President Donald Trump issued an order on March 19 to effectively disallow American investors from participating in the initial coin offering (ICO) of the Venezuelan Petro, a cryptocurrency supposedly backed by the country’s oil reserves.

After reportedly raising over $5 bln from the Venezuelan Petro token sale, which would make it the biggest ICO to date overtaking the $2 bln Telegram ICO and $1 bln token sale of EOS, Venezuelan President Nicolas Maduro announced on February 21 that the country is preparing to launch yet another cryptocurrency called Petro Gold, a cryptocurrency that is backed by Venezuela’s reserve of precious metals.

A state-backed currency, each token of Petro is reportedly backed by a barrel of oil. Overall, oil makes up a large chunk of the country’s earnings from exports — approximately 95 percent — and the country has dedicated 5 billion oil barrels toward the supply of tokens. The tokens brought in $735 million on the first pre-sale day and more than $5 billion in one month of sales.

The president of the country has offered the investors to invest and gain handsome profit in two ways.Investors who participated in the Petro token sale with US dollars and euros, also expressed their concerns about the solvency and transparency of the country’s government, specifically after it was revealed that the official whitepaper of the Venezuelan Petro did not guarantee token holders with the ownership of the country’s oil reserves.

Following the initial launch of Petro, another form of cryptocurrency called “Petro Gold” surfaced. That token, which is reportedly more powerful, is backed by the precious metal.