February 20, 2018, the world's first legal digital currency was born. Venezuela's official sale of the country's "petro" is also the legal digital currency issued by the first nation in human history.
According to the latest news from Reuters, Venezuelan President Maduro said that he received a subscription order of $ 735 million on the first day of its pre-sale of Petro-oil. However, he did not disclose any details of the initial investor nor did he provide any evidence to substantiate this figure. He said Venezuelan tourism, some gasoline sales and crude oil transactions may accept the payment of petro. Petroleum coins will be officially released next month. The total amount of oil coins issued was about 100 million pieces, with a pre-sale of 38.4 million pieces
However, the grand vision of the Venezuelan government of "revaluating all currencies" can hardly conceal or even contradict the technical details of the "petro." For example, when signing the official white paper on January 31st it announced that it would open the "Petro Container" project and open official mines in savings banks and universities throughout the country, but the official English-language white paper published on the day was silent on " Instead of claiming that the "petro" will not be issued in principle after the completion of the 100-million ICO.
So I think the petro is a triumph for the government of the government in trying to finance and break the U.S. economic blockade. Investing in oil coins is still a risk, we must be cautious.