El Petro is a crypto instrument to standoff Russia and America - FFC Media
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El Petro is a crypto instrument to standoff Russia and America

In the city of Venezuela, Traki city, the cryptocurrency of El Petro began to accept the local supermarket chain.

According to Noticias24 news agency, from July 25, you can pay by cryptocurrency for any products and goods that the supermarkets offers.

El Petro is the digital and sovereign currency of the Bolivarian Republic of Venezuela. It is backed by government guarantees and provided with commodities of the Republic, the oil in particular.

Digital assets of Bolivar Republic is just a first step in transforming the entire economy of the country onto completely new economic model in its principle — based on the principles of ecosystem” — stated Jocelit Ramires, head of the office of Digital Assets Sanacrip. “Ecosystem based economy has fundamental advantages. First it embraces reuse and share. Second, it converts competition into coöperation. Together, it will allow to gain efficiency on qualitatively different level” — said Jocelit Ramires.

The cryptocurrency experiment of Venezuela is aimed to combat the economic crisis that occurred as a result of an attempted political coup, sponsored, apparently, by the United States of America.

The Bolivarian Republic is considering the possibility of using cryptoactive assets in trade with the Russian Federation. According to FFC Media sources, the mechanisms of exchange El Petro for rubles is in developing.

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