The Venezuelan economy has undergone several changes that have been of great importance for the country. In particular, the birth of the new digital currency implemented by the National Government.

This implementation has attracted the attention of the press, both nationally and internationally.

Specialists in economic matters can only comment and analyze about this new Venezuelan economic system.

However, the citizens have not been entirely clear on what the creation of this virtual currency consists of and what its operation will be.

An important means of social communication conducted an interview on this topic to the Venezuelan professor and economist Alfredo Rincon, expert in finance.

Are there differences between the 1,200 currencies existing worldwide and the petro?

• Petro is the first electronic currency established by a State. Not even Saudi Arabia has done it officially. The cryptocurrencies, nobody knows who creates them and the petro was established by the national government. It is promoted by the media. Cryptocurrencies have no more support than their stability and the confidence they project, while the petroleum is backed by natural minerals such as oil, gold, gas and diamonds.

• How reliable can the petro be for investors?

• We have a currency promoted by the State of a country that is in crisis, it could be a parallel to all the obstacles that have been put to the government or could be a failure in the absence of security that investors have due to the national economy.

If it is not a cryptocurrency, what is petro then?

• The petro is a currency different from the bolivar, but electronic, not physical, it is not seen. Despite the fact that there are many spokespeople talking about the petro, none give a clear idea of ​​what it is. We are almost the only one of the 195 states that make up the world, which are members of the United Nations (UN), which does not emit figures of gross domestic product, inflation, or even production. So how are we going to inspire confidence if all the American, European and Asian countries give those figures and we do not?

• What could the State do to build trust?

• That works in political outputs to the current system that can establish the country, stop inflation and generate confidence in investors. Anyone can buy and sell petros. Its value will be governed by that of the oil barrel. It could be a brilliant idea or a failure failure.